Binance, a preferred cryptocurrency exchange for Bitcoin and altcoins, has made a new announcement for fan tokens. According to its announcement, Binance, the largest cryptocurrency exchange by trading volume, announced the launch of the “Binance Fan Club”. Here are the details…
The exchange took an important step for these altcoins
Binance, the largest cryptocurrency exchange by volume, has recently taken a step towards “fan tokens”, which are the altcoins that have attracted attention recently. The exchange announced the official launch of Binance Fan Club, a new reward redemption system integrated into the “Binance Fan Token” platform. Binance Fan Club gamifies the fan experience by rewarding you based on how much interaction you have with your chosen team.
In this process, users need to collect “star points”. These can be collected by completing simple tasks such as verifying identity or participating in surveys. The more star points you collect, the higher your level will be. The levels are as follows: Academy, Starter, Captain and Superstar. The campaign is called a “new royalty system” and will offer up to $38,000 in rewards through campaigns at launch.
What are among the awards?
A selection of new star rewards will be released each month for you to unlock in exchange for your fan tokens. According to the statement of the exchange, you will be able to get VIP tickets, signed products and even the chance to meet your team’s star player. In addition, all users who invite at least one friend are also given access to the token prize pool. “If you invite more friends and reach higher levels, you can get an even bigger share of the prize pool based on the multiplier system,” the statement reads. The statement also mentions the following:
Binance Fan Token is the ultimate destination for sports fans in the Web3 world. On our platform you’ll find world-class teams in a variety of sports, from world-class football to Formula One, as well as exciting events, promotions, unique prizes and much more.
Fan tokens are a special type of cryptocurrency that gives their holders access to various fan-related events. These fan-related activities include voting on some club decisions, special match ticket discounts, and more. These are just a few of the possible activities offered by fan tokens. Fan tokens operate on a non-fixed value principle, meaning their value comes from the value of fan engagement. Initially, a fan token is offered at a fixed starting price. If you want to reach a comprehensive list of fan tokens, you can visit our “Fan Tokens” page.
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