Binance Launches Fan Token Platform Update To Drive Sports Fan Engagement

Binance partnered with SS Lazio to use NFT tickets. (photo: twitter @BinanceFanToken)

JAKARTA - Binance, a leading crypto exchange, launched a new update to its fan token platform that aims to help sports clubs engage with their fans by offering various rewards for token holders.

In an announcement sent to the media, the crypto exchange said that its fan club program now allows fans to collect points that they can redeem for prizes, including match tickets, access to the fan meet events and handshakes with favorite players, and video clips of their favorite players, and even participate in an exclusive dinner with the athletes.

In this program, participants can collect points by participating in fan token activities such as voting in polls or completing other tasks. A higher participation rate will allow fans to access better prizes.

Lisa He, head of NFTs and fan tokens at Binance, believes fan tokens are the future of fan engagement. The executive pointed out that the program can bring fans closer to their favorite teams through dinner with their favorite players or even stadium tours.

“Fan tokens allow sports fans to feel more connected to their favorite sports teams by giving them access to exclusive offers and giving them a voice in team decisions for the club,” said Lisa He, as quoted by Cointelegraph.

In addition, Lisa He also said that their team believes that fan token is "the future of fan engagement, where clubs and their fans can feel closer to each other and have a two-way relationship."

According to Binance, the platform has been very successful, helping clubs such as Santos FC, Porto, and SS Lazio interact with the thousands of fans participating on the platform. Binance continues to strive to connect sports with the Web3 space.

On June 23, 2022, the crypto exchange partnered with the famous soccer player Cristiano Ronaldo to help him connect with his fans through a non-fungible token (NFT). NFT holders will have an exclusive opportunity to connect and interact with these soccer stars.

On July 28, Binance also jumped into NFT tickets right after the chaos caused by fake tickets in the UEFA Champions League. The crypto exchange partnered with SS Lazio to use NFT tickets for the club's home matches at Stadio Olimpico, Rome.