Binance launches new update on its fan token platform


TL;DR Breakdown

  • Binance releases update on its fan token platform
  • Users are eligible for various rewards
  • Binance infuses sports into Web3

Binance has announced a new update to help fans interact with their favorite teams on its platform. According to the exchange, the update to its fan platform will see them earn rewards for holding the tokens of their respective teams. A detailed update by the company mentioned that fans could leverage the new program to earn points which can be swapped for several real-life rewards.

Users are eligible for various rewards

According to the published update, the exchange mentioned that eligible fans could earn rewards like watching live games, meeting players, customized greeting clips from the players, and some other perks. The company also announced that some groups of fans would also be eligible to have exclusive dinners with their favorite athletes. In addition, Binance explained that fans could gather points through interactive activities, including voting and carrying out tasks.

The platform also clarified that users would be awarded rewards based on their level of participation in the activities. An executive of the company mentioned that Binance sees fan tokens as the ideal tool to drive engagement between teams and their fans. Aside from arrangements online, it could also help the players have a real-life meetings with the clubs and players representing them. The executive said that things like stadium tours would help fans have a real-life feel of their respective clubs.

Binance infuses sports into Web3

Fan tokens have been touted as the ideal measure for clubs and fans to connect digitally. Binance added that since the addition of the tokens, it has helped clubs garner fans across the exchange. The exchange fingered teams like Lazio, and Porto as the leading beneficiaries of the program. Binance has been working actively to embed sports into its platform over the last few years.

The exchange announced a partnership with superstar Cristiano Ronaldo to put moments in his career on digital sale through digital collections. of the collectibles will be able to connect with the athlete and share moments with him. In July 2022, Binance launched digital tickets as a means to combat the issue of fake tickets, as seen at the UEFA Champions League final. The exchange has also partnered with a club side in Italy to help them sell digital tickets to their home games.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

Related News

Hot Stories

Ethereum (ETH) and Bitcoin (BTC) Bounceback But Investors Look for a Robust ICO Project as a Bear Market Hedge; Will Orbeon Protocol (ORBN) Qualify?
11th Global Blockchain Congress by Agora Group Took Place on March 6th & 7th at Sofitel Dubai The Obelisk
Crypto Casinos Online: The Safest Place to Gamble?
5 Alternatives To Shiba Inu With High Growth Potential in 2023
Crypto Expert Forecasts for 2023 Look At Litecoin (LTC), Solana (SOL), and TMS Network (TMSN)

Follow Us

Industry News

Coinbase appeals to the Supreme Court on forced arbitration—here is what happened
NFTs could face 28% capital gains tax in the US: Here is what you need to know
Celsius estimated $144M legal and advisory expenses attracts mixed reactions
Coinbase expands to Brazil with a Pix Partnership
Sweden's largest pension fund sells entire shares in First Republic Bank at a $728 million loss

Add Your Heading Text Here