What is Fan Token (Chiliz)?

A Fan Token is a specialized token that runs on the Chiliz protocol that represents specific sports teams. Fan Tokens were created in unison with Chiliz' all-in-one rewards-based mobile application, Socios. Fan Tokens give Socios users the ability to vote on the proposals involving particular sports teams, such as design changes to uniforms, team matchups, and more. Socios voting is enabled via smart contracts that execute on the Chiliz blockchain. To obtain Fan Tokens, users must first purchase Chiliz (CHZ) tokens which can be exchanged to and from different Fan Tokens.