"You only need 1,000 die-hard fans to make a living" - Kevin Kelly
When talking about fan tokens, the first thing that comes to my mind is the 1,000 fans rule mentioned by Kevin Kelly in "Technical Elements". The fans mentioned here are different from ordinary fans. Hardcore fans have a strong sense of identity, no matter what. Whatever work you create, they are willing to pay for it.
Looking back, Binance has been involved in the fan token sector for more than two years. The first project we have to mention is Chiliz ($CHZ). CHZ was listed on Binance in 2019.09. The initial popularity of the project was not high, but it has a good investment background (Binance, Ceyuan Venture Capital, etc.) and a top star platform. It is a star project that cannot be ignored. On December 14, 2020, Binance announced the launch of new currency mining. Users can pledge $CHZ to mine JUV and PSG. Since then, the concept of fan tokens has officially appeared in everyone's field of vision. Since then, there have been OG, ATM, ASR, and BAR. , ACM camera is listed on Binance.
Starting from October 2021, Binance has launched new fan tokens and opened Binance’s own fan token platform. Different from the previous fan tokens, fan tokens from now on are circulated based on the BSC chain. , respectively Lazio, Porto, Santos and Alpine.
When fan tokens were first launched in 2021, CHZ rose almost 20 times from its low point, and other exchanges also began to follow suit and list CHZ and related fan tokens. However, only Binance operates in depth in terms of fan tokens and continues to empower them, bringing more fresh blood to the Binance and BSC ecosystems. As the 2022 World Cup approaches, CHZ has more than tripled from its low point. Binance has also packaged and launched the aforementioned team-related fan tokens into the contract derivative FOOTBALL. Users can trade in more and more related categories. .
Judging from the past two years or so, the industry has continued to develop. The fan token segment has also developed from being silently developed by CHZ and fully supported by Binance to major exchanges rushing to launch it. However, only Binance has continued to learn, absorb and innovate, and has developed The Binance fan token platform currently supports 4 clubs in issuing tokens, which are not limited to football clubs. Alpine, which is already online, is an F1 racing club.
Fan tokens are a good way for Binance to acquire users outside the circle and increase user stickiness. It has also enriched the ecology of BSC. For an exchange that is one of the best in the industry, it is deeply exploring a concept and constantly Optimizing development is not easy and deserves praise. For football clubs, racing, e-sports and even celebrity groups, Binance also provides a very good platform and provides a new way to enhance fan stickiness and realize business monetization faster. For die-hard fans and ordinary retail investors, fan tokens are also a more convenient, transparent and efficient way to get close to teams, groups, etc., and gain a unique experience that money cannot buy.
The World Cup is coming to an end, and the team's grand events may come to an end, but fan tokens are not only used in football, but also in global e-sports competitions, racing, and even the Korean group Blackpink, which Binance announced a cooperation contract with YG Entertainment some time ago. The story of coins may just be the beginning. The imagination and scalability of blockchain are unlimited. Let us look forward to more interesting stories.
SWEETY
I hope everyone will like it and forward it after reading it. If the likes exceed 500, I will update an article on how to capture the opportunity of fan tokens from the perspective of transactions.
