As a new digital asset for fans to support their favorite teams, Binance Fan Tokens can unlock some of the best rewards out there. Let's explore more.

binance fan token

If you've been living under a rock like most of us during this pandemic, you probably have no idea what all this Binance fan token hype is all about. Honestly, we had to go to some pretty deep depths to pull out every bit of info we got, and bring it straight to your screen. So, even if you have no idea what Binance is, this article is perfect for you. 

 

Binance Fan Tokens at a Glance

Binance fan tokens are utility tokens by popular brands and teams that give their holders special priorities and privileges that aren't available to everyone else. This is a great way for brands and teams to promote themselves while also bringing in a special bond with their topmost fans. It's also a way for fans to stand out and be able to access special privileges from their favorite brands and teams.

A great example could be a singer having Binance fan tokens and whoever purchases those tokens gets to have early access to buy their concert tickets or backstage passes, before everyone else gets their hands on it and makes it sell out.

 

How to Buy Binance Fan Tokens?

  1. The very step to getting your own Binance fan token is to create an account with Binance. You can do this either via website or app.
  2. You then have to go through a verification process which includes providing proof of identity, proof of residence, and all that good stuff in order to get your account verified and finally start using it.
  3. Once your account is verified, you can go to the Binance Fan Token Platform where you can see all the fan tokens available.
  4. Over here you can go ahead and buy them using either a debit or credit card.
  5. If you'd like to use some other method of payment such as cryptocurrency, you need to go to the Binance Spot Market in order to purchase your fan token.

 

Benefits of Fan Tokens for Fans

As we've discussed previously, there's obviously a reason people are spending a ton of money on these Binance fan tokens. It can't just be for the hype. Let's dive into more detail on why these tokens are so important:

 

1. Non-Fungible Tokens (NFTs)

One of the greatest benefits of having a Binance fan token is that you get to have early access to some pretty popular NFTs. Certain NFTs become really popular before they even go up for sale which makes them in really high demand.

If you want to have the best possible chances of getting your hand on that NFT, you will have to purchase a fan token from the seller which will give you early access to it.

 

2. Voting Polls

This is a super popular benefit for fans of popular sports teams. Holders of a team's fan token get to contribute to key details for the team such as their uniform design, merch, and other exclusive items. It certainly makes a holder feel like they're part of the team!

 

3. Fan Badges

If you're an MVP in the game of Binance fan tokens, you can become eligible for your own fan badge. This is displayed on your account and shows that you're among the top fans of a specific brand or team. It's another way of showing appreciation for your constant support.

 

Benefits of Fan Tokens for Teams

Contrary to popular belief, fans aren't the only ones benefitting from the Binance fan tokens. Brands and teams who launch their own fan tokens also greatly benefit from this new hype. Continue reading to find out how:

 

1. Referral Rewards

If you're a popular brand or team and you think you've got a decent fan following, you can launch your own fan token on the Launchpad. You'll then be able to promote your fan token on different platforms such as social media. Anyone who then comes to get their hands on your fan token will automatically make you earn your own rewards from Binance. The reward depends on several factors including how many people have bought your fan token.

 

2. Fan Relationship

Launching your own fan token is a great way to build a better relationship with your fan following. You can create exclusive activities with anyone who buys your tokens. This makes them feel extra special. It can also help you get more fans just because you're associated with Binance! Cryptocurrency has a massive audience in itself. Once the crypto fans find out you got your own fan token, it'll create a special bond between the both of you.

 

After carefully taking in and explaining everything behind a Binance fan token, we can safely conclude that this initiative by Binance is a great idea. It benefits both fans and teams. By doing so, Binance is promoting its own platform while also advertising for brands and teams and increasing its fan following.