Binance announces a new update for its fan token platform that will reward fans who gather points.
Binance dubbed its new update called Binance Fan Club and explained thoroughly the rewards system it will offer. The purpose is to allow fans to engage, interact, and get closer to the action.
The Fan Club will use a point collecting system that promotes countless rewards, such as a dinner with the favorite player, a stadium tour, and many more. Furthermore, Binance will add new winnings each month. The new prizes will be the access to particular meets and greets, game tickets, and video clips from players.
Accoding to Binance, fan tokens are the future of fan engagement. The Head of NFT and Fan Token at Binance, Lisa He, explained this situation:
“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.“
The platform will also include community rewards. Fans who invite their friends to join will be rewarded prizes as grand as the number of invited people. The first Community Rewards prize pool will be worth $20,000 in Fan Tokens!
The platform has been a sensation, offering different clubs options to engage more with their fans. Clubs, such as Santos FC, Porto, and SS Lazio, are now closer to thousands of fans on the platform.
The interest of Binance toward sports
Binance has repeatedly made an effort to integrate sports within the Web3 space. One of its most successful forrays was helping Cristiano Ronaldo connect with his fans through non-fungible tokens. On November 15, 2022, the cryptocurrency exchange created CR7 NFTs that provide exclusive opportunities for the holders to interact and engage with the soccer superstar.
Moreover, Binance also launched its Football Fiesta that corresponded with the 2022 World Cup. The Fiesta was a hit, and Binance had to mint more tickets to reach a bigger audience. The Fiesta had several soccer-related activities and offered a grand prize of $600,000.