Binance Debuts New Features with Fan Token Platform

A recent expansion to Binance’s fan token platform focuses on assisting sports teams in connecting with their fans by providing token holders with a variety of benefits.

According to the reports, the exchange announced that its fan club program will now allow fans to earn points they can trade for delectables, such as tickets to games, access to meet and greets, video clips from their favorite players, and participation in private meals with the sportsmen.

By partaking in fan token initiatives like voting in polls or carrying out other activities, participants can score a point. Fans will get access to greater incentives if they participate at a higher rate.

According to Lisa He, Binance’s head of NFT and fan tokens He said: “Fan tokens allow sports fans to feel more connected to their favorite sports teams by allowing them to have access to exclusive offers and have a voice in team decisions for the club.“

Furthermore, He added that his group thinks that fan tokens represent the “future of fan engagement, where clubs and their fans can feel closer to each other and have a two way relationship.“ 

As per Binance, the platform has been a huge success, assisting clubs like Santos FC, Porto, and SS Lazio in engaging with the site’s thousands of active fans.

Binance’s Involvement in Sports

Despite the fact that the ecosystem for digital currencies is still fairly recent, there have been significant financial investments in promoting interaction with sports organizations. The exchange’s involvement with sport is not new, as the platform signed Portuguese player, Cristiano Ronaldo, as its primary partner in June last year in order to promote inclusion with Web3.0 activities.

Also, the company announced a $200 million fundraising package for gaming investment and to accelerate blockchain gaming startups, as part of its $1B Growth Program in 2021.