Binance launches fan token platform! Teams can issue tokens in one stop, providing exclusive benefits, NFTs

Binance launched a new wave of Launchpad on the 14th: the fan token LAZIO of the Italian football team Lazio. Although this is not the first sports fan token listed on Binance, it has introduced a dedicated page "Fan Tokens" for this and is also a pioneering move for centralized exchanges.

Team-themed Application Page

Binance stated that this is a new way for teams to interact with their fans. It explained that "fan tokens" are utility tokens that teams can use to interact with fans worldwide. Binance's fan token page is a platform that allows teams to issue tokens in one place and provide fan-related application interfaces.

Actual Applications of Fan Tokens

As a Team

• Issue tokens through the Fan Token Launchpad
• Attract fans to join the club and receive rewards
• Provide fans with different interactive experiences through blockchain features

As a Fan

• Support the team with tokens
• Tokens can be used to vote and influence team decisions
• Obtain fan badges through tokens, win rewards or privileges
• Get early access to purchase limited NFTs of the team

Fan Tokens on Blockchain Chiliz and Binance's New Business

Currently, most high-value fan tokens on the market are based on the Chiliz blockchain, and the market liquidity of these fan tokens is mostly based on the Binance exchange. However, the fan tokens of the Italian football team Lazio are not issued through the Chiliz blockchain but are BEP-20 tokens on Binance Smart Chain. Binance also indicated on the "Fan Tokens" page that those interested in issuing fan tokens through Binance can contact [email protected], showing its ambition in this business.