Binance, the world’s leading blockchain ecosystem and crypto infrastructure provider, today announced the launch of Binance Fan Club, a brand new rewards redemption system integrated into the Binance Fan Token platform.
Summary
Binance Fan Club: all the details of the new crypto project
Binance‘s new system includes the revamped Fan Token program, dedicated to fan engagement, which offers S.S. Lazio fans more rewards and new ways to engage with their sports team.
The program allows fans to accumulate points that can be redeemed for fantastic prizes and unique experiences, such as personalized video clips of players, exclusive dinners, meet and greets and VIP tickets.
To join the Binance Fan Club, people can visit the Fan Token homepage and apply for a “Fan Club Card” badge. This way, fans can collect “Star Points” by completing simple tasks, such as finding out more about Fan Token or participating in activities such as surveys.
By accumulating points, fans can level up and thus unlock additional rewards. Specifically, this is an innovative technology for the sports industry, in this particular case for S.S. Lazio.
Binance’s Fan Tokens offer S.S. Lazio fans innovative and exciting ways to grow with their favorite team. Through this program, S.S. Lazio has also launched the first NFT ticketing project in the soccer industry.
The soccer team is thus able to incorporate service tokens into its ecosystem, enabling voting, donations, e-commerce, NFTs and more. Suffice it to say that more than 5,000 fans have converted their Lazio match tickets to NFTs.
Moreover, since the partnership began, more than 25,000 fans of the team have joined the Fan Token program, demonstrating the incredible potential of this innovative technology for sports team fans and the sports industry in general.
Fan Token: users involved not only in sports
Binance’s Fan Tokens were launched in October 2021 and have proven to be a great way to get fans involved in their favorite sports teams.
Ranging from the ability to vote for prizes they would like to receive as a fan, to converting event tickets to NFTs or even voting for players of the month, Fan Tokens are proving to be a new way to engage fans and make them feel part of their favorite club.
Since its launch, Binance’s Fan Token program has collected more than 130,000 fans who have been involved in activities that have made them feel closer to the sports action.
Lisa He, Head of NFTs and Fan Token at Binance, commented on the matter:
“Today marks the start of a new program for sports fans, who can get involved in the sporting action and beyond while racking up rewards that give access to non-purchasable prizes and one-of-a-kind mementos, from a dinner with their favorite player on a stadium tour.
We are excited to launch the Binance Fan Club and to see its future developments, which will allow fans to get even closer to their favorite teams.”
In addition, the Fan Token program is also available to fans of the Porto soccer teams in Portugal, Santos in Brazil, and the Alpine F1 Formula 1 team.
More crypto news: Binance mints $50 million of TrueUSD
Just days after US regulators ordered Paxos to stop issuing Binance USD, cryptocurrency exchange Binance minted TrueUSD (TUSD) worth nearly $50 million.
The transaction took place on 16 February, according to Etherscan data. Merely two days earlier, Binance CEO Changpeng “CZ” Zhao had stated on Twitter Spaces that his company would seek to “diversify” its stablecoin offerings.
Despite having minted nearly $50 million in TUSD, CZ believes that regulatory actions by the US Securities Exchange Commission and New York’s Department of Financial Services will lead to a gradual move of the crypto industry away from dollar-anchored stablecoins.
In this regard, he stated:
“I think that with the positions taken by regulators regarding US dollar-based stablecoins, the industry will likely move towards non-USD-based stablecoins anymore. We will return to algorithmic stablecoins. Too many agencies are applying pressure on dollar-based stablecoins, the market for these assets will shrink.”
Adding, further:
“50 million TUSD minted on Binance, $TRU price increased by 200%. On-chain data shows that Alameda and Justin Sun are the two largest $TUSD miners. To date, Alameda has minted a total of $TUSD 1.64 billion, while Justin Sun has minted $TUSD 889 million.”
CZ said that Binance will continue to support USD Coin and Tether, but also that the company plans to explore alternative stablecoins based on euro and Japanese yen. BUSD’s offering, on the other hand, will be phased out over time.
In fact, according to the statements, the BUSD offering is still in existence and safe, as people redeem the asset, the tokens will be destroyed.
Interestingly, TUSD was one of the stablecoins that Binance automatically converted to BUSD in September last year in order to improve liquidity and capital efficiency for its users.
The other stablecoins that were automatically converted were USDC and USDP: this move sent BUSD’s share of the stablecoin market soaring from 10% to 15% in a matter of weeks.
