The Most Popular Fan Tokens on Binance.US
Fan tokens have grown in popularity since Juventa FC introduced Juventus (JUV), the first fan token, back in 2019. Since then, other sports teams and organizations have created their own tokens in order to provide a more robust fan experience.
The most popular fan tokens by market capitalization (value) on Binance.US include:
Alpine F1 Team (ALPINE)
FC Porto (PORTO)
S.S. Lazio (LAZIO)
Santos FC (SANTOS)
Check with your cryptocurrency platform to see which fan tokens they offer.
What Is a Fan Token?
A fan token is a digital asset that enables sports and e-sports teams, music clubs, and other organizations and individuals to connect with enthusiasts from around the world, build fan engagement, and open up a whole new world of interaction within their industry.
Like cryptocurrencies, fan tokens are built on a system of digital records called a blockchain. Simply put, a blockchain is a digital database that stores transaction records in a secure, irreversible, and decentralized manner.
Think of a blockchain as a piece of paper on which you record transaction data, including deposits, withdrawals, and trades.
Look closely at that piece of paper and you’ll see that it contains blocks of information, similar to cells in a spreadsheet. The unique thing about this piece of paper and the blocks it contains is that you can only write on it — you can’t go back and edit or remove the content.
When you record a transaction in an empty block — such as the purchase of a fan token — a new block appears and links itself to all of the previous blocks, creating a chain of information called a blockchain.
A fan token is a record of digital value stored on a specific blockchain. Some tokens have the same name as their blockchain, while others are stored on blockchains of a different name.
Take the S.S. Lazio Football Club fan token (LAZIO) as an example. The LAZIO token is issued on the BNB Smart Chain (BSC) as a native BEP-20 token.
Fan Token Versus Cryptocurrency
At first glance, a fan token may seem similar to popular cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH):
Both fan tokens and cryptocurrencies are stored on the blockchain
Both can be exchanged for products and services to a certain degree
However, the similarities end there.
Unlike cryptocurrencies (many of which are used as a medium of exchange, similar to fiat or government-backed currency), fan tokens serve a singular and unique purpose: to help teams and brands interact with and provide benefits to their loyal fans.
In essence, fan tokens are a form of cryptocurrency that isn’t necessarily backed by the same underlying value principles as coins like BNB and Cardano (ADA).
The Benefits of Fan Tokens
The benefits of a particular fan token vary depending on the organization that issues it. For example, holders of a fan token may get a chance to influence club decisions and vote on various polls published by the team itself.
Theoretically, though, there is no limit to what the club can offer or how it can interact with its token holders.
They might give fans the opportunity to vote on things like:
Dressing room design
Music played after a team scores
Club bus design
Or, they might give fans the opportunity to:
Record a message to be played in the dressing room before the game
Access rare merchandise drops
Participate in raffles for unique gear or team experiences
Win fan badges
Purchase mystery boxes and non-fungible tokens (NFTs)
Take advantage of other exclusive token-holder offers
As these tokens become more common, no doubt the list of benefits will continue to grow.