Fan Token Offering (FTO)
Blockchain technology is getting into our daily life more and more every day. One of the best examples of this is the introduction of fan tokens of football teams. In this article, I will give you information about this topic you heard about but don't know where to start.
Fan Tokens are digital assets that show you have the right to vote and enable you to earn club-specific rewards and experiences. Fan Tokens, VIP experiences, specials, tickets, etc. means they can be replaced with other products such as.
Alexandre Dreyfus, CEO and founder of Chiliz and its subsidiary Socios; He said companies expect to add "many more partners than sports and entertainment in the near future." Dreyfus stated that the collaboration aims to increase the digital transformation of the industry, fan engagement and monetization ecosystem.
Chiliz and Socios are actively expanding their leadership as global fan token providers. Chiliz and Socios launched a Visa debit card project involving fan tokens for major teams such as FC Barcelona. In July 2020, Brazil's largest cryptocurrency exchange Mercado Bitcoin launched CHZ trading with the Brazilian real. Chiliz and Socios previously sold $ 1.3 million worth of FC Barcelona fan tokens in less than two hours.
A strategic partnership was established between Binance and Chiliz companies on December 14. With this partnership, Binance; It started to list Chiliz tokens created for Atlético de Madrid (ATM), AS Roma (ASR), Paris Saint-Germain (PSG), Juventus (JUV) on Launchpool.
On Binance, you can stake with the fan tokens BNB, CHZ and BUSD cryptocurrencies.
You can trade on the Chiliz stock exchange.
Socios only collaborates with football teams as well as computer game teams. Collaborations are constantly expanding.
You could be choosing a jersey design, the name of a training ground, in-stadium entertainment, or picking the next charity initiatives, player skills challenges, exclusive content and much more.
You can earn rewards through regular interaction with your team on the app or you can choose to exchange Fan Tokens as payment.
Your Fan Tokens can be moved freely between crypto wallets on any participating Fan Token exchange platform, including to and from your internal crypto wallet on Socios.com.
Fan Tokens are fully fungible assets, meaning they can be exchanged (AKA traded) freely against $CHZ both on the Socios.com marketplace and off-platform on any other Fan Token exchange provider that’s approved to operate on the Chiliz Blockchain. This is possible as all Fan Tokens are ERC20 tokens which ‘live’ on this blockchain
Token Hunt, our augmented reality feature, allows you to collect a limited supply of tokens anywhere in the world - for free
My last words
I hope I have created awareness for you about fan tokens.
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