If you are a big sports fan, you will have heard about Fan Tokens, an innovation that brings fans closer to their favorite teams than ever before. In football, many biggest clubs, like Barcelona, Manchester City, Paris Saint-Germain, Inter Arsenal, Flamengo, and Corinthians. They have launched Fan Tokens through Socio.com.
Fan Tokens are cryptocurrencies that provide membership benefits to sports fandom teams, bands, and other groups. They enable fn token holders to access membership perks, including voting on club decisions, rewards, merchandise designs, exclusive content, and unique experiences.
Sports clubs, music fan clubs, and other organizations use fan tokens to organize experiences, leadership, and more. They provide a chance for the fans to determine the future of their sports team or pop star and speculate on their success in the web3 markets.
Unlike NFTs, fan tokens are interchangeable, which means you can exchange them for sports or club merchandise, VIP experiences, and more. The underlying value of Bitcoin or Ethereum does not necessarily bake fan tokens. They usually get worth from how much fans value participating in the club and earn benefits.
How do Fan Tokens Work?
Like other cryptocurrencies, fans can buy and trade fan tokens, and during trading, the seller sets the token price generally. They change depending on the market movement and token popularity at the time. Once the users reach a specific fan token amount, they can vote on matters related to their favorite club.
The matters on which fans can vote include the club’s merch and tour bus design, ticketing, match locations, and MVP categories. These perks let fans feel involved in the club they support. They add pride and prestige as their Fan Token value is likely to increase as the club grows.
Fan tokens make a community of the most dedicated fans who give a new way for fans to participate in an existing voting and prize system. The more Fan Tokens you have, the more influence you have on the club and the more loyalty to show to your team.
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How to Buy Fan Tokens?
Fans must buy CHZ through the crypto exchange to acquire Fan Tokens available on the Chiliz Network and Socio.com outside the Chiliz network. These rare digital asset tokens are specific to a team or club that provides an encrypted voting ledger and membership rights ownership.
Some Fan Tokens are available on popular centralized exchanges for trading and swapping on decentralized exchanges (DEX), like PancakeSwap. You can find the most extensive token, Chiliz, on the platforms such as Binance, Coinbase, Chiliz, KuCoin, etc.
How to Identify A Fan Token?
You can identify a Fan Token from their use as part of clubs and sports clubs. Some tokens that span sports and music include KPOP, Professional Fighters League, FC Barcelona, and Galatasaray. They are diverse from other cryptocurrencies as they don’t solve financial and technical problems and are called fun, rewards-based tokens.
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What is Socio.com?
Socio.com is a modern and unique opportunity for users that allows them to interact with their favorite team or club. It is a mobile app that a company, Chiliz, created to dominate the market for Tokens. It is a specific platform that enables you to buy Fan Token, and vote in the polls. You can participate in endless games and features to win rewards.
The tokens depend on Soccer, where the platform has secured deals with top teams, including FC Barcelona, Inter Milan, & Manchester City.
What is Chiliz?
Chiliz is the world’s leading blockchain fintech platform for Token providing sports and entertainment. It has developed a Socio.com platform for fans to integrate with their desired teams and clubs. CHZ, an Ethereum-Secured token, and the native ERC20 utility token serve as the digital currencies for Chiliz and Socio.com.
Chiliz is responsible for the birth of Fan Tokens, a new cryptocurrency type. After reaching the token to Socio.com, club partners host FTO (Fan Token Offering). Where they fix Fan Token prices and provide them to the fans before they reach the marketplace.
