Analyst Identifies Ceyuan Ventures as Early Chiliz Investor
Beijing-based venture capital firm Ceyuan Ventures was recognized as one of the major investors in the sports and entertainment blockchain project Chillz. In a recent revelation, a Chiliz promoter and educator with the Twitter identity Playmaker revealed that approximately 10M CHZ tokens were received by a wallet belonging to Ceyuan Ventures.
Playmaker’s revelation was enabled by an Arkham crypto deanonymization tool that filters information on crypto trades and transactions. Using Arkham, details like value, token, time, and counterparty can be revealed and used to analyze crypto transactions.
More than 3B $CHZ (35% of TS) were distributed in @Chiliz’s private placement in 2018/19.
Although a public list of investors exists, it’s mostly unclear which entity received how many tokens.
Thanks to @ArkhamIntel, we might now know one of them and their allocation. (1/7) 🧵 pic.twitter.com/JBtPvVbMxc
— Playmaker (@PlaymakerChiliz) January 16, 2023
According to Playmaker, the wallet linked to Ceyuan Ventures received the specified amount of CHZ tokens from a Multi-Sig wallet belonging to Chiliz. The transaction happened in 2019 during the private placement program. This piece of information on the date of the transaction supports the already-known fact about Ceyuan Ventures’ participation in the private placement.
The uniqueness of Playmaker’s revelation comes with the details. Arkham’s tool was able to filter out the actual amount of tokens received. That helps to calculate the total value of Ceyuan Ventures’ investment in the project. At a private placement price of $0.0215, 10 million CHZ amounted to $200,000.
Playmaker assumed this to be a small investment, considering the status of Ceyuan Ventures. However, he clarified that his investigation did not reveal additional tokens received by the investors in another wallet.
For the tokens received during the February 2019 private placement, Playmaker discovered that they were moved to a Binance wallet in December of the same year. The analyst didn’t track further to know if the tokens were sold and when.
The rest of the details provided by Playmaker were subjective and based on personal deductions according to market behavior. He suggested that, like several other investors, Ceyuan Ventures may have sold its CHZ tokens. He based his opinion on the impressive bull run of 2020/2021, during which CHZ climbed to $0.9, a price too tempting to resist.
Playmaker identified other wallets still holding CHZ at private placement price levels. He promised to keep an eye on those wallets while monitoring the Chiliz token economy.
