Gone are the days when the only access to your favourite sports teams was television sets. Now, with the invention of social networking sites like Facebook, Instagram and Youtube you can engage and connect with famous people non-stop. The crypto industry has built something even better. Forget about enjoying content passively, now you can actively participate in your favourite team’s decision and more using fan tokens. Popular teams in various sports like Formula One, Football, etc have issued their own fan tokens. Let’s unravel how you can own one and understand how they work!
What are fan tokens?
Fan tokens are crypto assets that are issued by clubs, organisations, or teams for their fans. Ownership of these tokens allows you to get into the inner circle of fans. Holders get access to a variety of exclusive voting access on different polls that dictate team decisions. These polls relate to decisions for match locations, tour bus designs, promotions, rewards, and merchandise designs. Owing more tokens gives you more voting power, thereby, giving fans the ability to influence their favourite team.
Not just that, you can use these tokens to buy exclusive sports merchandise, NFTs, and access team content. Additionally, you can get an even VIP experience by climbing the tiers of fans that exist on the Socios.com platform.
Some of the top fan tokens
So, here then are some of the most famous fan tokens out there:
Alpine F1 Team Fan Token (ALPINE):
The Alpine F1 Team is a Formula One constructor which made its debut at the start of the 2021 Formula One World Championship and its fan token is called ALPINE. BWT Alpine F1 Team became the first-ever Formula One team to have a fan token after partnering with Binance Fan Token Platform.
Manchester City Fan Token (CITY):
Manchester United is one of England’s most famous football clubs that is managed by Pep Guardiola. Its fan token is called CITY.
FC Barcelona Fan Token (BAR):
FC Barcelona is a Spanish professional football club based in Barcelona, Spain. Like all other fan tokens, the BAR token allows you to enjoy the perks of being an official fan.
Paris Saint-German Fan Token (PSG):
Paris Saint-German is a professional football club based in Paris, France with numerous awards to its credit, besides a massive fan following. The fan token of the club is called the PSG token.
Juventus Fan Token (JUV):
Juventus is a professional football club based in Turin, Italy with multiple national and international awards. The JUV token is the fan token of the Juventus Football Team.
Apart from these, there are some 60+ tokens out there!
How do Fan Tokens work?
Let us understand how the tokens are issued first. Most of the fan tokens out there are issued on the Chiliz platform which is the most popular fan token platform out there. Primarily because they have been able to create an ecosystem of football club tokens so users prefer to stay on their platform. Chiliz has its own blockchain called the Chiliz blockchain. In order to issue a token, sports or entertainment organisations do a Fan Token Offering (FTO) on the Chiliz Blockchain.
You can buy the fan tokens during the FTO using the CHZ token on Socios.com. It is a native ERC20 utility token of the Chiliz blockchain that is secured by the Ethereum blockchain. The Socios.com platform also allows fans to engage with their football teams by connecting clubs and their fans. This helps the clubs to secure additional revenue streams that are digital, secure, and transparent. Just in case you missed the opportunity to buy fan tokens during the FTO. You can now buy them at ZebPay. So, go and get the fan token of your favourite sports teams today.