Fandom FanTokens ⚽️

Earlier we learnt about NFTs and Utilities but some geeks got offended and asked for a publication on FanTokens. Today is the day guys, lets take a deep dive into FanTokens - Here we go 🚀

What is FanTokens?

Fan tokens are cryptocurrencies that permit their holders to access a variety of fan-related membership perks like voting on club decisions, rewards, merchandise designs and unique experiences. They can be used by sports clubs, music fan clubs and other organizations to democratize and organize experiences, establish club leadership and more.

Unlike NFTs, fan tokens are completely “fungible” or interchangeable. This means that, just like fiat or cash, the tokens can be exchanged for sports club merchandise, VIP experiences and more. Additionally, they play an important role in tightening the club community with another team-branded piece of fandom.

How does FanTokens Work?

Fans can purchase digital tokens and trade them like other cryptocurrencies. When trading, the price of a fan token is generally set by the seller. It is also subject to change according to market movement and how popular the token is at the time.

Once users gain access to a set amount of fan tokens, they are granted the right to vote on a variety of matters concerning their favourite club. These matters that fans can vote on largely depend on the club, but they could include a club's merchendise design, Ticketing Matter, etc.

That's it for the day nerds, Web3Shala Signing Off ✌🏻

Have a nice day :)Keep Learning 🙏🏻