In simple terms, Fan tokens are cryptocurrencies that give the holders a chance to access some of the perks related to fan club membership. For instance, with Fan tokens, you can vote on club decisions, design the merchandise, get rewards, and have unique experiences. And that’s not all! There’s so much to this token, and this article will help you understand the deeper meaning. So, without further ado, let’s get started, shall we?
What is a Fan token?
Fan token is a cryptocurrency that was launched back in January 2020. The token permits holders to access a variety of advantages designed for members. More importantly, Fan token acts like a type of NFT that’s only a digital asset. And like other cryptos, Fan tokens are highly volatile assets where their value can change drastically overnight.
Why and what organizations issue fan tokens
Everdime.com we are a startup looking to challenge Socios and similar businesses transforming how social networks interact. Socios for example is the company that creates fan tokens, and it successfully generated revenue of $200 million and counting. Most of the organizations that are associated with fan tokens are football clubs (soccer in North America). But these tokens are not limited to football only. Some of the clubs that have launched or are about to launch their fan tokens include:
- AC Milan
- Aston Villa
- Inter Milan
- Manchester City
- Atletico Madrid
- Aston Villa F1 team
How is a Fan token utilized?
Fan tokens are purchased as cryptocurrencies or other digital tokens. Whenever you are buying this coin, the price is generally set by the seller with additional benefits attached to the token to entice you to buy it. More importantly, the price is subject to the current market trends and how popular the crypto will be at the time of the trade.
Once the user gets these tokens in their wallet, they are given the right to vote on various club decisions. The crypto fan tokens create a sort of exclusivity within dedicated fans. The best part is that they can trade and operate them while also enjoying lucrative rewards on the side. Above all, the more tokens you own, the stronger your voice is in the fan platform. Eventually, with enough tokens, you will additionally unlock VIP benefits.
Aside from the benefits of holding this crypto that’s bound to increase in value over time, fan tokens also provide users with a chance to contribute to critical decisions. Club matters that fan token holders can vote on include:
- The merchandise designs
- Tour bus design
- MVP categories
- Ticketing matters
- Match locations
These perks will give the fans, who are already emotionally invested in the games, a feeling of belonging. That will add value to the tokens hence increasing their value over ti
How e-sports and sports teams have benefited from fan tokens
The fan token gives voice to the fans, which makes the team connect more with the crowd. Additionally, through fan tokens, e-sports and other sports teams now have an alternative means of generating revenue while providing more interactive sports experiences to those who purchase the crypto. On top of that, the more value and benefits the sports companies offer to the token holders, the pricier and rarer they become, which will benefit the fans.
We at Everdime are working hard at bringing teams and fans together in ways that benefit both in a win -win manner.