Chiliz (CHZ) rallies 60% to a $1B market cap as fan token offerings expand

Nonfungible tokens (NFTs) and decentralized finance (DeFi) are two of the hottest concepts in the crypto sector, and each is altering the way projects and companies interact with the public on a wide scale.

One project that is looking to apply these concepts into a framework for sports fan engagement is Chiliz, a blockchain platform created by the Socios fan engagement platform. The project is designed to allow fans to purchase branded Fan Tokens that let them influence their teams through the popular vote.

CHZ/USDT 4-hour chart. Source: TradingView
VORTECS™ Score (green) vs. CHZ price. Source: Cointelegraph Markets Pro