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Binance Launchpool unveils new fan tokens for football teams

Binance users can now earn fan tokens for Atlético de Madrid, AS Roma and OG

As part of Binance’s strategic partnership with Chiliz – a fintech blockchain company that provides sport and entertainment entities with tools to engage and monetise global audiences – they announced yesterday the introduction of new fan tokens to Binance Launchpool. The latest tokens to be offered for farming come from the Chiliz-powered fan influence and rewards platform Socios.com.

The three new additions are fan tokens for Atlético de Madrid (ATM), AS Roma (ASR) and OG (OG). They are all built on Chiliz Chain, a proof of authority sidechain built on Ethereum. Fans can use the Socios.com application and services to gain a tokenised share of influence on club decisions through these utility tokens. They can also compete for club recognition, exclusive rewards and more as the tokens serve as membership keys.

Atlético de Madrid and AS Roma are both iconic clubs with long histories that have seen them achieve multiple wins in La Liga and Serie A respectively. OG, on the other hand, are an Esports team formed in 2015 who netted over $26.6 million in prize money for their back-to-back wins in annual Dota 2 world championship tournament The International.

CEO and Founder of Binance Changpeng Zhao (CZ) commented, “The traditional sports and Esports industries are more actively exploring and engaging in the world of crypto. Fan tokens have been well-received by our users, and we are happy to work closer with Chiliz to continue providing access to them.”

This latest news follows the introduction earlier this month of fan tokens for Juventus (JUV) and Paris Saint-Germain (PSG) to the Binance Launchpool. Fans will likely be keeping a keen eye on the three new tokens as the prices of JUV and PSG surged by over 285% and almost 240% respectively in the week following their addition to the Launchpool, according to data from CoinMarketCap.

Alexandre Dreyfus, CEO and Founder of Chiliz and Socios.com, added, “Following the success of both PSG and JUV Fan Tokens, we’re excited to add another three partners to Binance Launchpool, and take a further step forward in our vision to tokenize the sports and entertainment industry over the next five to seven years.”

The farming period started at midnight today and will last until 00:00 UTC on 23 January 2021, during which time users can stake BNB, BUSD or CHZ in separate pools. ATM, ASR and OG will be listed in the Binance Innovation Zone on 30 December 2020, at which point trading will open for ATM/USDT, ATM/BTC, ASR/USDT, ASR/BTC, OG/USDT and OG/BTC.

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