Binance Fan Token is a cryptocurrency that offers special benefits and privileges for teams and brands. Sports clubs, teams, brands and other influencers can use these tokens to grow their fan community and reward their supporters.
What is Binance Fan Token?
Binance Fan Tokens are service tokens associated with a club, team or brand. Token holders receive a number of benefits and privileges. These privileges include taking an active role in club decisions. For example, a football club may have a Binance Fan Token that gives token holders the priority to purchase tickets, and the holders of this token can have a say in a new equipment to be purchased for that team or a slogan to be chosen.
Fan Token Advantages
Fan tokens are usually associated with a sports club, famous person, or other unit with a large audience. Clubs with their own tokens currently circulating on crypto exchanges include names like Juventus, AS Roma and FC Barcelona. Unlike BTC and Ethereum, which derive their value from the underlying project, a Binance Fan Token derives its value from the unique benefits it offers to fans.
For example Binance Fan Token list The SS Lazio football team, which is part of the SS Lazio, gave LAZIO token fans the right to vote in the “fans decision” polls. At the same time, work is underway to collect NFT rewards and explore other gamification features.
Binance Fan Token benefits including receiving rewards and enjoying exclusive fan benefits. Exactly what benefits you get will depend on what token you own and what the club or brand offers, but in general, the advantages can be listed as follows:
- Mystery Boxes and NFTs:You can use your Binance Fan Tokens to purchase NFT Mystery Boxes containing NFTs of different rarities.
- Voting right: If the club or team associated with the token is voting for fans, token holders can participate in these voting through the governance mechanism. These votes may include selecting team-specific products or team charity events and matches.
- Fan badges: Participating in Binance Fan Token’s team-related events will increase your chances of earning a Fan Badge. If you collect enough Fan Badges, you can also gain exclusive experience with the club or brand.
How Are Fan Tokens Different From NFTs?
Binance Fan Tokens differ from NFTs in some features. NFTs are one-off collections that cannot be replicated and are therefore considered “unique”. Although a team with their own Binince Fan Token can issue NFT, this token can actually be replaced by something else. This means that one token can be used in place of another Binance Fan Token of the same type. You can think of it as analogous to the fact that any other $1 bill can be used in place of a $1 bill with no difference. Depending on the Binance Fan Token, some token holders may use their tokens to collect club-related NFTs. This is the biggest difference between Fan Tokens and NFTs.
Binance Fan Token List
The number of fan tokens in the cryptocurrency market has reached 60. The stock market started this application in 2021. With the support of the exchange, fan tokens of four football teams have been put into use so far:
- Alpine F1 Team Fan Token
- SS Lazio Fan Token
- Santos FC Fan Token
- FC Porto Fan Token
How to Buy Binance Fan Token?
To purchase Fan Tokens, you must first create a Binance account and complete the KYC verification process.
After creating the account, you can make transactions with a credit or debit card to load the balance into the wallet. Balance transfer can also be provided by wire transfer.
You can buy the desired amount of fan tokens when the money is loaded into the account. Binance Fan Tokens will be automatically transferred to your Spot Wallet after purchase.
At the same time, you can buy crypto assets from other users with the cross-chain transfer feature and To get Binance Fan TokenYou can use these assets.
