Crypto Fan Tokens
What if you can choose the next message written in your favourite sports team’s locker room?
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What if you can design the next merch for your favourite band?
All of this is happening already through cryptocurrency. Basically, fans around the world are already deciding the future of their favourite player, sports team, band or artist through Crypto Fan Tokens.
Fans can buy, earn and sell these tokens through several crypto fan token platforms because the main purpose of these tokens is to provide access to its holders of various fan membership perks.
Generally, this form of cryptocurrency allows holders to have fan rights such as voting on club decisions, merch design, rewards, and also meeting with their favourites, being a part of the fan community, having unique experiences and not mention – calling themselves proud VIP fans.
What is Crypto Fan Token?
Fan tokens are an innovation in the crypto space that comes with fresh use cases and rewards.
Crypto Fan Tokens are Utility tokens that work like a membership for life. This fan membership token will never go out of date and it provides numerous benefits, perks, rewards, and governance rights to fans.
A fan token is a type of cryptocurrency which is getting popular among fans of sports teams and bands.
The idea of fan tokens got popular after Chiliz launched their fan token platform Socios in partnership with many sports teams like FC Barcelona, Inter Milan, and Manchester City to drop their fan tokens.
Fan tokens are a representation of being a fan. These are fungible tokens, unlike NFT which is non-fungible. It means that Fan Tokens are interchangeable just like Fiat or Cash they are exchanged with others for VIP experiences, Sports club merch, Voting rights on important team decisions and many more.
These crypto tokens differ from another crypto such as Bitcoin and Ethereum in terms of underlying value. They are not back by valuable technology like other cryptos. These tokens get their value from the value of that team, band or artist. Fan tokens gain value from fans.
Acceptance of Crypto Fan Tokens will reach crypto adoption to new highs among the masses.
How does Crypto Fan Token Work?
The concept of Fan tokens is utilised across domains such as soccer, cricket, the NFL, Kpop, and music bands.
While providing new revenue streams to organizations, they also bring various VIP perks that fans can flaunt and be proud of.
The basic concept of fan tokens works on minting. Organizations behind these sports teams or bands mint a set number of tokens and launch them through Fan Token Offering or FTO on platforms like Socios or crypto exchanges.
The idea of fan tokens is still fresh because most of these are launched on Decentralized Exchanges like PancakeSwap rather than all centralized exchanges.
However, these tokens provide governance rights to holders for various decisions and matters like – MVP categories, tour bus design, match locations etc. the more fan tokens you hold the more your votes are valuable.
How to buy Crypto Fan Tokens?
These tokens can be bought via FTOs but they can also be bought in the secondary market through exchanges or Fan Token platforms like Binance Fan Token.
Crypto Fan Tokens are available on some well-known exchanges like –
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Binance
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Huobi Global
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Coinbase Pro
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KuCoin
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PaneCakeSwap
You can hold your tokens in your wallet or exchange account and can use them for voting and rewards on the mobile app of the token platform.
Type of Fan tokens and Platforms to buy:-
Currently, Chiliz is the biggest crypto fan token with over a 1 billion USD market cap. Chiliz is a native token of the Socios platform, an initiative of the Chiliz company.
Chiliz token is used to buy other fan tokens such as AC Milan fan token, Manchester City fan token etc. on the Socios platform.
Here are some of the well-known platforms to buy fan tokens –
Socios
Socio platform was launched by the Chiliz network. It is powered by the Ethereum blockchain.
Fans have to buy the CHZ token first which is the native token of Socios. Fans can buy their favourite sports club’s fan token against CHZ.
CHZ on Socios can also be bought through a bank account. Later on, you can download Socio’s mobile app and make decisions for your favourite sports club.
Binance Fan Tokens
Binance has launched its official platform to launch fan tokens for sports clubs.
You can buy fan tokens from sports teams like FC Porto and S.S. Lazio. These can be bought against other crypto and stable coins like USDT.
On the other hand, Binance users can buy these crypto fan tokens through their bank account and on Launchpad as well.
For this first, you have to buy Binance fan Tokens which are use to buy fan tokens of your favourite teams.
These tokens have come with rewards and have a modest market cap.
XCAD Network
XCAD has its native token XCAD. This allows content creators to monetize their content on Web3 platforms like YouTube and Twitch through a plugin.
Fans or subscribers of that content creators will be able to earn Fan Tokens by watching content.
In this way content creators will have one more monetization option while fans got rewards in crypto tokens that they can trade or use for governance in the fan community.
Birdie Fans
Birdiefans.com is a soon-to-launch platform with its native fan token BCOIN. The platform will enable Golf players, fans and legends in the game to come together.
Fans of Golf legends and players will be able to earn crypto and govern via BCOIN. Fans will be able to earn these fan tokens by playing golf as well.
Birdie fans will have its symbol token BGOLF. The platform will give access to fan tokens of superstar golfers like Justin Thomas, Adom Scott, Lee Aane Pace etc. along with legends like Tiger Woods and David Duval.
Conclusion
While crypto is still not considered a safe investment but it is a high-risk high-reward investment.
Hence, fan tokens also come with their pros and cons. One should hold these tokens only if one sincerely wants to be a part of the fan community.
Though these tokens are used for trading and investment but DYOR is mandatory for the sports team and band you are investing in or for the platform you are using to buy these tokens.
FAQ
What is a fan token?
Fan tokens are cryptocurrency or utility tokens that provide rewards and crypto-earning opportunities to holders. These are lifetime membership tokens for fans of sports clubs, bands or Artists’.
Where I can buy football fan tokens?
You can buy crypto fan tokens for football clubs on these platforms –
Socios.com
Binance Fan Token platform
