Fan Token Overview
Fan tokens are cryptocurrencies that allow holders to vote on mostly minor decisions related to their clubs, club decisions, rewards, and also unique experiences. They have been drawing in new users to the world of cryptocurrency and making history by being the first to be rewarded with digital tokens. Manchester City became the first Premier League club to launch a fan token and just recently by launch a sport fan token with their football club. If you’re not yet familiar with them, here’s what you need to know.
Chiliz: The Pioneer of Fan Tokens
Chiliz is a company that is generally responsible for the creation of new types of cryptocurrencies. The fan token, which is available to fans that reach the platform and club partners that host a fan token offering, also known as an FTO, is where the prices of the fan token are fixed and made available to the fans before they reach the marketplace. The chili token is the first and most prominent fine token that has prompted an explosion of new tokens like Manchester City, Inventus and AC Milan. Chiliz has also worked hard to secure some industry firsts. For example, Ivanti was the first club to launch a fan token all the way back in 2018, then we saw AC Milan be the first club to launch a fan token in 2019.
What’s next for Fan Tokens?
Nowadays, the fan token sector is dominated by two main players: SAS and Chiliz tokens. Chiliz PSG token experienced a major price gain as it grew by 300% at one point to reach a new ULUM high of $61. That huge gain happened because one of the greatest payers in the world, Messi, actually moved from Barcelona to PSG – a transfer that shocked the entire world of football. However, very recently, LAIA has also entered the scene. Like other fan tokens, LAIA works as a governance token. It offers the holders the ability to vote on club decisions and gain access to exclusive rewards and benefits, many of which will be announced after the token launches in mid-October.
Our Thoughts on Fan Tokens
NFTs are a way of rewarding fans who watch matches live. For example, Sore and DER are doing a great job, but we don’t want to compete with them. So we’re using NFTs to reward fans who watch the match live. If you own an Alan Token at the time of the match, you may receive an NFT. The idea is that if you own all the NFTs of the season, you will be invited to a VIP box in Milan or another city. NFTs are seen as a utility and an investment. They are a new thing that is fascinating because it has the potential to change the way we view ownership and value. People who were once there for the money are now there for the vision. This shift can be seen in the conversations people are having with clubs.
How can I get a Fan Token?
In order to get a fan token, you will need cryptocurrency. If you need to sign up for an exchange, check out this list of exchanges.
