Will Football Fan Tokens Start the Next Crypto Boom?
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The long-awaited quadrennial football event finally kicked off on November 21, 2022. As the biggest football game in the world, the tournament is expected to attract over five billion viewers worldwide. Unlike previous tournaments, this year’s football carnival features many sponsorships from crypto. For instance, the logo of Binance is on the jersey of the Argentina National Football Team, and Crypto.com has become an official sponsor of the tournament. This is not the first collaboration between crypto and the world’s most influential sports event. Back in 2018, the market saw cryptos related to the tournament.
Behind the football feast is a massive viewership with invaluable business opportunities. This year, many teams and clubs participating in the matches have issued fan tokens. As the trending event unfolds, fan tokens could drive away the present sluggishness of the market and start a new boom in crypto investment.
Essentially, fan tokens are a type of cryptocurrency designed to provide exclusive benefits for the fans of sports teams, bands, and other commercial groups.
For example, football fans can show their support by holding fan tokens issued by their favorite team or club. Fan token holders often enjoy certain VIP privileges, including access to limited-edition goods, tickets to football matches, etc. They can even influence the decision-making of the team or club to a certain extent. For example, holders of BAR (FC Barcelona Fan Token) got to choose the song playlist on match days; fans holding CITY (Manchester City Fan Token) could decide on the design of football kits.
Fan tokens, a kind of social token,
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