Fan tokens just like NFTs have gained a lot of attention ever since their launch on the chiliz chain late 2019. Chiliz.net and Socios.com were the first and main exchanges that fan tokens were being traded before they gained the attention of some of the top crypto exchanges like binance that listed them. Cryptocurrency exchanges like FTX and Crypto.com have paid millions of dollars just to sponsor soccer clubs after realizing how fan tokens were increasingly bringing a lot of sports fans into the crypto community.
Binance seeing the progress in fan tokens decided not to only list them, but took another step that could lead to more attention like ever before. On the 13th of this October, binance announced the official launch of a new platform that will only be dedicated to the trading of fan tokens which will start with the LAZIO fan token. LAZIO being the first club to launch their token on the binance smart chain as well as the first token to be listed on the binance fan token platform has own the club an official multi year partnership with binance. During the partnership period, binance will be the main jersey provider for the club S.S LAZIO.
THE LAZIO FAN TOKEN SALE DETAILS:
About 4,000,000 LAZIO fan tokens will be offered for sale through the binance launchpad and that will mark the initial supply. The sale will follow this:
- Binance will record their users BNB balances on spot wallets starting from 14th to 21st of this October daily and the average spot holdings of each user will be eligible for the token subscription on the 21st.
- Each user's share will be calculated based on the (number of BNB committed by the particular user/total amount of BNB committed) multiply by the total tokens offered (4M)
- And let’s say after the calculations you are eligible for 10 tokens, they’ll deduct the price for the tokens from your BNB (for the LAZIO fan token, each will be worth $1 of BNB) and return your remaining BNB and the 10 tokens to your spot wallet.
- After the sale is completed, binance will now open trading for the LAZIO fan token firstly on spot, and later add margin, P2P trading for the token.
BENEFITS OF THE LAZIO FAN TOKEN/ ALL THE FAN TOKENS TO BE LISTED ON THE BINANCE FAN TOKEN PLATFORM.
Fan tokens are utility tokens that give the holders a lot of privileges especially in the team’s say. As a holder of the fan tokens you influence the particular team’s decisions through the fan voting rights, score experiences that money can’t buy, unlock fan Badges to win special rewards, and more still to come as fan tokens trading become more popular.
For full details about the binance fan token platform and everything relating to the sale of the LAZIO fan token, please check these links below.
https://www.binance.com/en/support/announcement/235735d356e241a481e9f339497aad5f
https://www.binance.com/en/support/announcement/7e2ab0778e4b409d857dedcb2d4da175
If you will also be interested to support my piece on my other blogs, you can find them through the links below:
On LOOP FINANCE: https://www.loop.markets/boom-time-awaiting-the-fan-tokens-industry-binance-goes-all-in-to-support-the-chiliz-chain/
On LEO FINANCE: https://leofinance.io/@godsplan/boom-time-awaits-the-fan-tokens-industry-binance-goes-all-in-to-support-the-chiliz-chain
