There is little doubt that 2021 was a big year for cryptocurrency. The explosion of NFTs into the mainstream helped, and buy-in from more and more well-known brands made it the most exciting year in the short history of the market, according to Time Magazine. With so many potential marketplaces available to investors, it is easy to be spoiled for choice on how you want to get involved, but how can you know which currency is going to be your best investment?
One attractive option is Chiliz (CHZ), which is a new currency that has seen significant gains as of late. Released in late October 2018, it has since risen by more than 225% since then. CHZ has the potential to climb even higher in the next year as it continues to be adopted by more organizations around the world.
CHZ is the crypto that backs Socios fan tokens, which have been all over the news of late. They’re an NFT that allows fans to own part of the digital influence over their club. For a small prize, fans can take part in decisions that affect the club, such as messages in the changing rooms or what to name a training pitch. They can be bought and sold, like other NFTs, and their price fluctuates. That can be influenced by an outside event, such as Lionel Messi’s recent move to Paris St Germain. He took some of his signing fees in fan tokens and that impacted the price of CHZ positively.
Unlike other cryptocurrencies, CHZ has a link to a physical product or benefit. This means that it might be influenced by factors outside of the markets, such as the aforementioned trade, but it also helps to insulate it from potential fluctuations in the markets. This is a huge benefit for people looking to diversify their portfolios to protect them from a disruption that impacts other cryptos. Plus having a say in how your favorite sports team is run is can add an extra incentive to invest.
So far CHZ has been primarily traded with teams in Europe, but there is growing interest in rolling the tokens out in the US in the next year. This makes right now a great time to do some research and decide if this currency is the right investment opportunity for you. It has already outperformed the market, rising in value ahead of most other cryptos over the past year, and the potential is there for 2022 to the best year the currency has had so far.
Every investment opportunity needs plenty of research before you dive in, but with its connection to some of the most popular sports teams on the planet and its proven track record of performing better than the market average, CHZ could be the next potential win for investors as we approach 2022. Even well known teams like the New England Patriots are in talks to adopt the tokens, so the currency will likely take a big boost in the next few months when they do.
- CryptoQuant Analyst: Bitcoin Nowhere Near Its Peak – Buckle Up, Hodlers! - December 21, 2024
- Chainalysis: $2.2 Billion Lost to Crypto Hacks in 2024 - December 21, 2024
- Bank of Japan leaves interest rate unchanged: Impact on the macroeconomy and the crypto market - December 20, 2024
