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Get Special Benefits and Privileges With #Binance Fan Tokens

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Get Special Benefits and Privileges With #Binance Fan Tokens

Decentralized Access

Binance is providing sports fans with exclusive access to their favorite teams through Binance Fan Tokens (BFT). 

2021 was all about utility and adoption. BFTs grant holders access to special benefits to enhance fan experience. Users can purchase the tokens through the Binance Launchpad or spot trading. 

Get Special Benefits and Privileges With #Binance Fan Tokens

Source

BFTs Versus NFTs

Fan tokens are not NFTs as they are fungible tokens, but they do offer similar perks. They are utility-based where benefits include access to limited-edition NFTs and voting on certain club decisions (think jersey designs, etc.). The value is derived from the level of access to the team rather than the token price.

How to Buy Binance Fan Tokens

After opening your Binance trading account, users can head on over to the Binance Fan Token Platform. From there you have three options: 

  • Join the BFT Launchpad to access to the latest drops;
  • Buy pre-existing BFT on the Spot Market;
  • Purchase crypto assets through peer-to-peer markets and convert tokens. ‍

Real Value?

While utility is the key, the perks are not always enticing enough to mitigate the costs. Some tokens seem to immediately lose value after launch, making the perks the only value the tokens have. 

Fan tokens are quite speculative and the loss in value can outweigh the perks. Do your research to make sure fan tokens are right for you.


Source: ethereum.today

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