GAINS Associates
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GAINS Associates

Chiliz — Telegram AMA — February 23

On Tuesday, February 23, we had the pleasure to welcome to our Telegram chat:

Joe Grech, Crypto Marketing Manager, and
Siyi Chen, Community Lead and Chinese marketing specialist

We asked them questions about the development of Chiliz.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

Chiliz ($CHZ) is a leading digital currency for sports tokenization, powering the world’s first scalable fan engagement & rewards app where fans can buy & trade branded Fan Tokens as well as vote in club-focused surveys & polls.

Socios.com is the world’s first fan influence and rewards platform that helps sports entities achieve digital transformation through blockchain technology. Socios.com is powered by $CHZ, both an ERC20 utility token on the Ethereum blockchain and a BEP-2 token on Binance Chain.

Socios.com has partnered with Paris Saint-Germain, Juventus, OG, AS Roma, Club Atlético de Madrid, Galatasaray, Club Atlético Independiente, FC Barcelona, Team Heretics, UFC, Apollon Limassol, Trabzonspor, Young Boys, Sint-Truidense V.V., PFL, Novara Calcio, NAVI, İstanbul Başakşehir, Team Alliance, Universidad de Chile and AC Milan who have hundreds of millions of fans worldwide, with more clubs and teams to be announced in due course.

Fans use $CHZ to buy branded Fan Tokens, which give users decision-making power by allowing them to vote on polls published on the app. Ownership also gives fans access to exclusive rewards & incredible experiences, as well as gamification, social connection, and leaderboard features.

Introduction

Q — Ayeley Commodore-M from GAINS: Let’s start by learning a bit about you. What did you do before crypto and did you have any other previous venture in crypto?

A — Joe from Chiliz: I am Joe, the Crypto Marketing Manager of Chiliz. From the age of 13, I have been building online communities, started with tech forums, and moved onto Minecraft 👀, fast forward, had a huge interest in esports and tech. Previously I lived in Finland and helped build the first live stream highlight platform called Oddshot.tv (it’s dead now).

Whilst living in Finland, it was early 2017 and my boss had been talking about Ethereum for ages, so I decided to dig in. Ethereum was about $60 back then. For me, Chiliz was my first ‘real’ crypto role, joined them in May 2018 (pretty much the beginning of the adventure)

So yeah, me = tech, esports, finance, and memes.

A — Siyi from Chiliz: Hi, I’m Siyi, I’m the community lead and Chinese marketing specialist for Chiliz. My background and work experience are always marketing related, however it was in the traditional industry (food & traditional fund). I built my personal interest in blockchain and Bitcoin in 2017 and started some small investments ever since. I started my role at Chiliz in 2019 and started full-time in this sector.

Q — Ayeley Commodore-M from GAINS: For how long have you been working on Chiliz? And how many people are on the team?

A — Siyi from Chiliz: I joined Chiliz in early 2019, so almost 2 years :)) We have almost 100 team members for now, with the development team the biggest team within the company (I think so?)

A — Joe from Chiliz: The Chiliz whitepaper was published in February 2018. I joined in May 2018, The fundraising ended in the early summer of that year :) So, I’ve watched how fast this company has evolved and have played a big part in the success ( I hope ) 😂

About Chiliz

Q — Ayeley Commodore-M from GAINS: Awesome. What is the Chiliz project about in a few simple sentences? What gap did you find in the market that led the team to start this company?

A — Siyi from Chiliz: So, in Chiliz, we are connecting fans and their favorite clubs innovatively with the utility asset called Fan Tokens. Fan Tokens are a tokenized ‘share of influence’, allowing fans to vote in certain club decisions and win multiple fantastic rewards, including money-can’t-buy experiences, meeting team members, limited editions rewards, offers, access to club-related content, etc.

A — Joe from Chiliz: Well, our CEO Alexandre Dreyfus came from a background in poker, he was ambitious and trying to gamify poker a little more, making it more like an e-sport. This lead the company down a rabbit hole of blockchain, and tokenization :) Scrapping the poker venture to move into esports tokenization. We raised about $60mn back in 2018 from backers like Binance, OK Blockchain Capital, and more.

From there, we pivoted into sports, e-sports, and entertainment as there was a huge gap in the market and no one was working on the tokenization of sports teams for fan engagement reasons :)

Now we are here a few years later with a portfolio of over 20+ partners :) And with a combined market cap (of Fan Tokens) of $150m+

Q — Ayeley Commodore-M from GAINS: What are the requirements for a team to create and list its token on your platform? Or can a die-hard fan just list the tokens of his favorite club, without the club’s permission?

A — Siyi from Chiliz: Yep. I just want to say actually there is no fixed standard. If the club is interested, they can speak to us for cooperation.

A — Joe from Chiliz: 🙈 That’s a lawsuit waiting to happen 👀

We work very closely with the clubs, it’s the only way for this to work :) We are positioning clubs to also understand that it is THEIR Fan Token, not ours :) We are simply issuing it on behalf of the clubs.

We need a very close relationship for this to work, which takes lots of education, negotiation :) Some partnerships took years of negotiations. (Makes sense if you look at some of our partners like FC Barcelona, Juventus, PSG, AC Milan, etc)

We are in talks with hundreds of sports, esports, and entertainment organizations all over the world 🚀

A — Joe from Chiliz: Let me just share quickly all of the Fan Tokens that are currently traded: )

Yes, you will find some esports teams there like Natus Vincere, a big CSGO organization. Alliance, OG (Dota legends), etc.

Also, if anyone here uses Binance and participates in the Launchpools. You would have seen our Fan Tokens in December :). ATM, ASR, OG, PSG, JUV all were in Binance Launchpools and listed there :). Binance also increased their investment size in our company (both equity and tokens).

Q — Ayeley Commodore-M from GAINS: COVID has affected a lot of sporting activities. In 2020, the Euros and the Olympics were postponed, along with some leagues being truncated. Did that affect the Chiliz project?

A — Siyi from Chiliz: Yep, we reacted very quickly around this pandemic, created a lot of online activities (fans meeting players virtually, etc)

A — Joe from Chiliz: COVID initially looked like a big show stopper for us, how can we get fans into stadiums and reward them during COVID?

It took a lot of thinking outside the box to try and keep things interesting, for example, in the beginning, we had fans on the LEDs of the Juventus stadium, we had cardboard cutouts of Galatasaray Fan Token holders in the stadium.

We decided to see COVID as an opportunity. How?

Well, many people are spending time at home on their computer, created a hyper-growth catalyst for crypto, that is nice :) (obviously following the flash crash heh, buy the dip blah blah). That wasn’t the only thing that COVID caused :) Clubs generate revenue from stadiums :) Tickets, restaurants, bars, etc. Clubs suddenly had this revenue void, which was accelerating debt, etc. They needed to also be innovative and think outside the box, but they also have resources. This made the case and argument to join Socios and Chiliz very strong.

✅ Extra revenue.
✅ Enhanced fan engagement.
✅ More partners join Socios :)
❌ Fans not in the stadium.

We have continued to grind through COVID, Chiliz dealt with it very well, with protocols, protection, etc to ensure the safety of colleagues :)

COVID has been a hard time for all of us, probably for many of you too, but, when you are a company, there is not much time to sit there and panic about the future :) There is time, however, to continue the grind and show the blockchain space that we are here to build and here to stay 🚀

We have a few skybox’s at some stadiums, including Juventus :) (Now wait for COVID to end and 🤟)

Skybox at Juventus stadium

So here you can see the Socios x $CHZ LED :), with the fans of Juventus

This was towards the beginning of COVID :) 99.9% of fans do not live in the city of the team stadium. All fans and their voices deserve to be heard :) we make that easier. We wanted to do our best to make fans feel close to their club, even though they can’t watch in the stadium.

So, we have a very digital approach also.

Q — Twitter user @KathDM3: FAN token holders receive many benefits including merchandise from their favorite soccer team, invitations to meet and greet, etc. How are these fans selected? Is it a random process? How can we increase the chances of being chosen?

A — Siyi from Chiliz: Well, of course, it’s not a random process :)) (but sometimes). Yep, we do frequent social media campaign on our Twitter & Instagram account and give away exclusive rewards to fans, so make sure to follow our Socios Twitter if you are a fan!

But most rewards are related to how users interact with our platform (Socios app) and the poll of the clubs they support. For example, recently we launched the very first poll for our partner AC Milan

So we asked all the AC Milan fans to design an encouraging phrase to be placed in the locker room of AC Milan, and the club shortlisted the very best 5 ones and sent to all the $ACM fan token holders to vote. The creator of the slogan that received the most votes will have the opportunity to video meet a Milan legend.

In the future, once we launched the new ranking system within Socios, we will have a better method to reward the fans based on their interaction & activeness automatically

Q — Twitter user @JIDXKEKS: The native Fan Token of Socios, SSU has no monetary value and can only be used for voting on Socios poll currently. Are there more future utilities for it, if yes, what are they?

A — Siyi from Chiliz: So, currently, SSU can be used in the internal poll of Socios.com, to let all the users help us improve the platform together

For example, we did a poll to select the design of the Category row on Socios. We provided 3 options and the one that got the most votes are the current design (we listen to our users) :))

Soon, we will introduce a ranking structure in Socios.com, and SSU can be converted to the xp in the new ranking system.

Token

Q — Ayeley Commodore-M from GAINS: Are there any more use cases for the tokens, both Chiliz and the fan tokens? How does it capture the value of the ecosystem you’re building?

A — Siyi from Chiliz: Yep. So a share of voting right in the club’s decisions is no doubt the core value of fan tokens. Also, the more Fan Tokens you own, the more access you would have to various benefits and discounts from the club and its sponsors.

For example, in our consumer-facing app Socios.com users can find different games & competitions they can participate in (they need to own fan tokens first) to win exclusive club-related merch or the other rewards. Also, the sponsor of the club so offering exclusive discounts for fan token holders.

Q — Telegram user Amina Peter: Just like every token where there is total supply, circulating supply, token burn, etc.

Now come to fan token, how do you arrived at each club’s fan tokens total and circulating supply? Is it going to be the bigger the club fans the bigger their token supply? In this case, how and what system will you use to carry out token burn since fans always increase?

A — Siyi from Chiliz: Yep, we design the total supply of fan tokens together with the clubs, and the total size of the fanbase is one of the most important factors taken into consideration. So in most cases, it’s like this — more fans, higher supply of fan tokens.

Business Development

Q — Ayeley Commodore-M from GAINS: What stage is the project at currently? And what should we look forward to, in the coming months?

A — Joe from Chiliz: Stage => Matured.

20+ partners, close to 100 employees, we are growing faster than we have ever before :) The network effect of Fan Tokens listing on Binance was huge.

Also, we just created the first CHZ liquidity pool on Uniswap. We only see growth from here.

Q — Ayeley Commodore-M from GAINS: Any plans for NFTs?

A — Joe from Chiliz: Yeah, we have some really cool ideas for NFTs :) Also, we have a method to automate them too. (IE, a certain goal in a certain match scored by a certain player, automatically mints NFTs based on oracle data likely provided by CL (we have a partnership)

The thing about trends in crypto is, we usually sit them out :) Many projects want to be seen as first movers and innovators on trends. But, often looks like they’re just riding waves and spreading their resources thinner.

We have an NFT strategy :) But, we are not in a rush. We build for the long-term.

Q — Twitter user @Romadel33: For this year or in the future, are there plans for Chiliz to bring these agreements to other disciplines such as tennis, NBA, NFL to live these experiences with our heroes of the sports world?

A — Joe from Chiliz: We do plan to. Can’t say much more than that for now though. Just be careful what you wish for.

Q — Telegram user Nick Deon: What is the proudest thing about CHZ from 2020 to early 2021 and how do you plan for CHZ’s next achievements to be even better?

A — Siyi from Chiliz: We have a lot of things to be proud of for the past year.

1. Announced AC Milan as our partner (and converted their locker room tokens to real ACM Fan Token)
2. Socios.com users surpass half a million
3. Fan Tokens generated over $30M in revenue in 2020 that was shared with Socios.com clubs and partners.
4. Several Fan Tokens were listed on major global exchanges, including Binance, driving significant activity, with Paris Saint-Germain ($PSG) and Juventus ($JUV) trading volumes hitting a 24 hour high of $300M in late December.
5. We added the liquidity pool on Uniswap!

So for all the dex lovers, you can now contribute the CHZ/USDT liquidity pool in Uniswap and get the trading fee rewards :))

It was a pleasure having you join our community today, Siyi and Joe. Thanks for the very detailed session. It was fun learning about Chiliz and all the amazing things you are doing, with fan tokens and the support you are giving to the sports teams especially during this COVID period. Anything else you’d like to say? Where can we follow you to stay updated? — Ayeley Commodore-M

Thanks again for having us here. It’s a great pleasure. For further updates on Chiliz. Please follow our Twitter and our Telegram news channel. — Siyi from Chiliz

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