Introduction to Fan Tokens – The Future Currency in Sports Industry

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Football fans are always looking for a new way to have more fun with their favorite sport. They may participate in fantasy football, or watch games together at bars and restaurants. The next thing they might want to try is Fan Tokens (FT). FTs can be purchased by people who love the game of football as well as bitcoin holders worldwide. This article will explain how FTs work, including what they are and how they differ from coins.

What are Fan Tokens

Fan tokens are new fungible utility tokens that are created by sports teams and other organizations to reward fans, provide access to exclusive content or experiences, or raise funds. 

The tokens provide its owner the voting right on exclusive club polls such as kit designs, training ground names or picking charity initiatives. It is similar to a membership card providing fans with exclusive rewards, including special VIP access and treatment for events.

Introduction to Fan Tokens - The Future Currency in Sports Industry
Apr 17, 2021; Anaheim, California, USA; Fans wait in the stands after the game was postponed for COVID-19 contact tracing between the Los Angeles Angels and Minnesota Twins at Angel Stadium. Mandatory Credit: Kelvin Kuo-USA TODAY Sports

The idea is that these fan tokens can be sold on secondary markets for profit if the team becomes more popular. Fan tokens give fans a way to invest in their favorite team without having any equity ownership of the organization itself. The success of this type of token will depend on how many people want it in the first place and what its utility value is relative to other cryptocurrencies such as bitcoin.

How Fan Tokens are Issued 

Fan tokens are issued by platform in collaboration with sports teams. Chiliz ($CHZ) is an Ethereum based utility token that serves as the exclusive digital currency for platform. It is the only currency that can be used to buy fan tokens.

Introduction to Fan Tokens - The Future Currency in Sports Industry
Apr 16, 2021; Anaheim, California, USA; Fans of Los Angeles Angels left fielder Justin Upton hold signs that read “Uptown Funk” in the fourth inning against the Minnesota Twins at Angel Stadium. Mandatory Credit: Kirby Lee-USA TODAY Sports

Famous football clubs like Barcelona, Juventus, AC Milan, Manchester City, Paris Saint-Germain (PSG), AS Roma and Galatasaray have partnered with to launch their own fan tokens. It is reported that Barcelona ($BAR) sold 600,000 tokens in less than two hours and generated $1.3 Million.

How to Buy Fan Tokens

Fan Tokens can be bought on the app using $CHZ.  Some of the famous fan tokens like $ACM of AC Milan, $JUV of Juventus and others are available on Binance Exchange platform. If you are still on the edge and haven’t invested in cryptocurrency yet, fan tokens is the best way to start your crypto trading. Binance is a good platform and friendly for beginners to get you started easily.

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