One of the industries the growth of crypto has cut across is sports. This intersection has produced several initiatives that connect fans around the world. Fan tokens are one of such initiatives that’s connecting fans with each other as well as with teams.
Fan tokens are cryptocurrencies designed to give holders access to specific experiences related to the organization. These membership privileges include voting rights on club decisions, rewards, and merchandise designs.
While sports clubs mostly use them, other organizations can also have fan tokens to engage their community and followers. Unlike Ethereum or bitcoin, fan tokens are designed to be valued based on how fans rate the experiences related to the organization.
Chiliz is a cryptocurrency on the Socios.come platform used to buy fan tokens. There are other fan tokens too including the AC Milan Fan Token, Manchester City Fan Token, and Juventus Fan Token. These tokens can be bought and traded on several exchanges.
Here are the top three exchanges to trade fan tokens:
Chiliz exchange
Chiliz exchange is the first crypto exchange dedicated to the trading of fan tokens around the world. These tokens are targeted at sports and entertainment alike. It was launched in January 2020 by the team behind Chiliz, headed by Alexandre Dreyfus.
Before the release of Chiliz exchange, Chiliz developed the Socios.com app, where sports fans can earn rewards for their engagement and activities. It is powered by the Chiliz token $CHZ and has attracted football clubs such as Paris Saint-Germain, FC Barcelona, and Atlético de Madrid and national teams like Portugal and Argentina.
Sports clubs can create and launch fan tokens on the Socios platform. These tokens, which could be traded on several exchanges like Binance and Kucoin, can now be traded in a fan token-focused exchange – Chiliz exchange.
Trading pairs included in the exchange are ACM/CHZ, ARG/CHZ, ALA/CHZ, APL/CHZ, ASR/CHZ and more. Users can also trade Bitcoin, Ether, and Tron-based pairs of fan tokens. Users can visit the website, sign up, fund their account and begin to trade fan tokens.
MEXC
MEXC Global, previously known as MXC Exchange, is a cryptocurrency exchange platform founded in 2018 to allow users trade several cryptocurrencies in a safe and high-performance digital environment. It has more than 10 million users in over 170 nations around the world.
The exchange, whose CEO is John Chen Ju, offers trading options for cryptocurrencies and stablecoins. Fan tokens are one of the newest introductions into the platform with one of the highest numbers of fan tokens listed on it – 17. This allows users to explore several fan tokens on the exchange.
MEXC Global gives preference to fan tokens by having a dedicated trading zone for them. Recent updates from MEXC show the platform listed more fan tokens, including $EFC, $CPFC, $LUFC, & $GALO, while $IBFK, $VCF, $NAP $AM, $SAUBER will be listed in the Innovation Zone on December 17, 2022. It will allow users to trade these pairs IBFK/USDT, VCF/USDT, NAP/USDT, AM/USDT, and SAUBER/USDT.
Binance
Binance is the largest crypto exchange in the world in terms of users and volume of traded assets. The Cayman Island registered exchange was founded in 2017 by developer and entrepreneur Changpeng Zhao. Binancians, as they are popularly called, can trade up to 350 plus cryptocurrencies on Binance.
In 2021, Binance launched the Binance Fan Token Platform, where fans can connect with their favorite teams globally. The platform has initiated partnership deals between Binance and several sports teams who want to reward their fans using created tokens.
Currently, there are thirteen fan tokens tradable on Binance, including Chiliz, Lazio Fan Token, PSG Fan Token, Porto Fan Token, and more. Users can create accounts, fund it and start trading the fan token.
Read also;
Fans to Influence Arsenal’s Future as Fan Token $AFC Goes Live on Socios
PRIMAL; everything about the move-to-earn fan token ecosystem
