The world of sports is embracing the power of blockchain technology through fan tokens. These digital assets offer a unique way for fans to connect with their favourite teams and organisations, while providing new revenue streams for the clubs themselves. Not all of them can yet participate in passive income programs (EARN), but this type of coin is becoming more and more popular every year.
More than just a coin: perks and privileges
Unlike traditional cryptocurrencies, fan tokens offer unique benefits tailored to the hearts of passionate sports fans. Holding these tokens can unlock exclusive experiences, including:
- VIP game access: secure prime seats or exclusive access to areas normally reserved for season ticket holders.
- Meet-and-greets: get face time with players, coaches, or team legends.
- Voting rights: have a say in certain club decisions, such as team mottos or kit designs (depending on the team’s structure).
- Limited-edition merchandise: access exclusive merchandise drops or discounts on team gear.
- Digital collectibles and NFTs: own unique digital memorabilia and potentially valuable player cards.
The main crypto players in the game:
Chiliz: the leading platform for fan token creation and distribution. Chiliz’s native currency, CHZ, acts as a utility token, allowing fans to purchase fan tokens from their favourite teams on the Socios platform. CHZ’s rate is depended on fans involvement in sports tokens – the more fan tokens they buy, the more
Socios.com: a platform powered by Chiliz, where fans can access and manage their fan tokens, participate in polls and activities, and connect with other supporters.
Which fan token to choose?
Fan tokens are revolutionizing the way teams connect with their supporters. As the technology evolves, we can expect even more exciting possibilities, fostering deeper fan engagement and innovative revenue streams for the world of sports. So which ones are better to choose? Here’s our pick for 5 of the most prominent ones.
Santos FC token (SANTOS)
- Connect with history: honor the legacy of legendary players like Pelé and Robinho by owning a bit of Santos FC tokens (SANTOS).
- E-commerce perks: gain access to the club’s online store for exclusive merchandise or game tickets.
- Voting rights: have a say in club decisions, such as the team’s warm-up song or captain’s armband message.
- Digital collectibles: Santos plans to offer digital collectibles and NFTs in the future, potentially increasing fan engagement.
- Price as of the beginning of June 2024: ~$6.20
Galatasaray FC fan token (GALFT)
- Influence the club: participate in club polls and potentially influence decisions on certain matters after purchasing GALFT tokens.
- Fan discounts: enjoy exclusive discounts on official Galatasaray merchandise and event tickets.
- Global fan connection: connect with a passionate Galatasaray fanbase worldwide through the Socios platform.
- Future potential: analysts predict the token’s value could increase as the club integrates fan tokens further.
- Price as of the beginning of June 2024: ~$2.20
S.S. Lazio fan token (LAZIO)
- Largest market cap: LAZIO boasts the highest overall value among listed fan tokens.
- Digital collectibles: enter raffles or participate in activities to win exclusive digital collectibles and NFTs.
- Future e-commerce: potential future integration with the club’s e-commerce platform for additional benefits.
- Limited information: details on future functionalities and voting rights are still being developed.
- Price as of the beginning of June 2024: ~$2.72
Paris Saint-Germain FC fan token (PSG)
- Own a piece of PSG: be a part of the Parisian giants and support the team in a unique way with PSG tokens.
- Exclusive content: gain access to exclusive behind-the-scenes content, interviews, or player messages.
- Future e-commerce benefits: potential future integration with the club’s e-commerce platform for priority access or discounts.
- Evolving functionalities: specific details on future benefits and voting rights are still under development.
- Price as of the beginning of June 2024: ~$3.72
Brazil National football team fan token (BFT)
- National pride: show your support for the Seleção Canarinho and connect with fellow Brazilian fans globally by purchasing a few BFT tokens.
- Digital player cards: collect digital trading cards featuring players from both the men’s and women’s teams.
- Fan engagement activities: participate in polls, quizzes and other online games to earn rewards or exclusive content.
- Limited voting rights: while voting rights exist, the specific scope of influence for fans is still being determined.
- Price as of the beginning of June 2024: ~$0.07086
Where to trade Chiliz?
You can trade Chiliz on various exchanges in pairs with USDT and other currencies. Most platforms offer Nigeria-based users the opportunity to easily purchase USDT directly for Nigerian Naira (NGN) that can thereafter be used to buy CHZ. This is an effortless way to access the CHZ cryptocurrency in Nigeria because it offers a trusted and easy method to exchange assets.
How else can you earn passive income in crypto?
The crypto market offers ways to potentially grow your holdings beyond just buying and selling CHZ, USDT or other cryptos. Earn programs allow you to leverage your crypto assets by depositing and then “locking” them for a set period. In return, you can earn rewards, typically in the form of additional cryptocurrency. These programs can offer attractive interest rates, but it’s important to understand the associated risks, such as potential market volatility and varying lock-up durations.
For instance, EXMO.com’s Earn program offers crypto users the chance to maximise their returns by utilising their crypto holdings. Through a partnership with MakerDAO, Compound and Aave, alongside other esteemed DeFi protocols and staking services, participants can earn passive yields by securely lending their assets. Enrolling in the Earn program offers several advantages such as the following:
Additional crypto income
Participants can earn rewards by contributing assets such as BTC, ETH, USDT, USDC, DAI, and more to lending pools, providing a simple way to generate yield.
Streamlined process
Rewards are automatically received at the end of the subscription period, with an auto-renewal feature available, ensuring a seamless reward collection process and requiring minimal effort.
Increased yield with exchange tokens
Some platforms offer higher income within the Earn program for holding their native tokens. For example, when a user holds EXMO Coin, they gain access to higher returns for different assets, making it possible to generate more income and rewarding participants with enhanced profits.
How to secure your funds in crypto?
Financial security requires a multi-layered approach. Choosing reputable exchanges and services is a crucial first step to start your crypto journey. Here are some key principles to consider before you decide to register on an crypto exchange:
Choose reputable platforms
When engaging in any online activity, particularly crypto transactions, it’s essential to select reputable and trustworthy platforms. These platforms should demonstrate a commitment to user security. Look for established companies with a proven track record of protecting customer data and funds.
Prioritise strong credentials
Creating and maintaining strong, unique passwords for each online account is vital. Avoid using easily guessable information like birthdays or pet names. Consider using a password manager to generate and store complex passwords securely.
Secure storage and knowledge
Securely store any sensitive information: physical credentials, back-up codes, or private keys used to access accounts or digital assets. Knowledge is power: staying informed about current security threats and best practices allows you to make informed decisions and protect yourself from potential risks.
Conclusion
In addition to earning passive income, sports-related cryptocurrencies offer an exciting opportunity for enthusiasts to support their favourite teams. With platforms like Socios.com powered by Chiliz, and fan tokens like SANTOS, GALFT, LAZIO, PSG and BFT, fans can engage with the sports industry in innovative ways. Additionally, the Earn program provides crypto users with a chance to maximise returns through secure lending of assets and additional yield sources.
This article is for informational purposes only and should not be considered financial advice. Investing in cryptocurrencies is the personal responsibility of each trader. We are not responsible for any possible losses incurred as a result of trading operations. Also, remember the DYOR rule (Do Your Own Research) when choosing a project to invest in.