In a blog post on Wednesday, Oct. 13, Binance revealed that it has signed a multi-year agreement with the SS Lazio sports team that will see Binance become the official jersey sponsor.
Besides Binance appearing on Lazio’s jersey, the team shall also have the opportunity of becoming the first sports team to launch a fan token on Binance’s new fan token platform
Binance Fan Token platform
Binance Fan Token platform opens a new way for sports fans to engage with their favorite sports teams/clubs.
The sports teams will be able to launch their fan tokens and do initial issuance through Binance Launchpad. Fans will then be at liberty to exchange the fan token on Binance exchange or use them to collect NFTs or even vote on certain decisions that will be reserved by the teams for the fans. The fan tokens could also give fans a chance of a one-on-one meeting with their favorite teams.
While Lazio is the first sports team to launch its fan token on the fan token platform, Binance is expected to net in more teams to create a larger network for fans.
Binance seems to be walking in the steps of FTX and CryptoCom both of which have signed partnerships with several sports clubs in the last few months.
The Lazio fan token (LAZIO)
The LAZIO token is a utility token that allows Lazio fans to engage with the team and it shall be issued via the Binance Launchpad.
The token is expected to play a great role in creating a thrilling fan engagement for the team’s supporters through several unique engagement-based rewards.
The post Football club SS Lazio becomes the first to launch a fan token on Binance’s new fan token platform appeared first on Invezz.