The world’s largest cryptocurrency exchange Binance has launched a fan token platform. The Italian football club SS Lazio is allowed to take the lead. That club is the first to get its own cryptocurrency. In addition, Binance will become the club’s shirt sponsor.
#Binance Announces a Multi-Year Partnership with SS Lazio @OfficialSSLazio to Kick Off the Binance Fan Token Platform
➡️ https://t.co/cZrHCn1jI9 pic.twitter.com/Wrv8dMBJ3N
— Binance (@binance) October 13, 2021
Fan tokens have been quite popular with fans for quite some time now. It offers them a way to own a piece of their beloved club. With the tokens they can vote on various club affairs, participate in events and buy merchandise. Socios.com is the best known company that facilitates such fan tokens to clubs. Their tokens will be launched on the Chiliz (CHZ) blockchain.
But now that platform is getting a competitor. While Socios has already secured several big clubs such as Arsenal FC and FC Barcelona, Binance is now also going to launch its own platform. The Lazio Fan Token (LAZIO) will via Binance Launchpad making its first round of sales.
“By joining forces with Binance, the Lazio Fan Token (LAZIO) will be issued through the Binance Launchpad to take the club’s brand to the next level and create a more meaningful fan engagement experience for the fans of the club. club – through unique and engagement-based rewards, interactivity, gamification and more.”
Binance Launchpad participants will be the first to get the token. In order to participate in the sale round, investors must hold Binance coin (BNB). The more BNB they own, the more lottery tickets they will receive, which ultimately gives them a chance to participate.
Binance is not the only exchange entering the field of fan tokens. Earlier, crypto exchange FTX announced that it would list the fan tokens on Chiliz. FTX recently announced its partnership with the Chiliz platform.
Even Lionel Messi reportedly owns fan tokens. Part of his new contract with Paris Saint-Germain is a $30 million bonus in the form of PSG fan tokens.