Binance to Launch Football Fan Token Futures Index, Just in Time for World Cup

2022-9-1 19:30

Binance, the world’s largest cryptocurrency exchange by volume, has announced the launch of perpetual contracts for its fan token index.

The Binance Football Fan Token Index perpetual contracts will be available, with up to 25 times leverage, on the exchange’s derivatives market from Sept 1, according to a company announcement.

The firm said that its new cryptocurrency price index will track the market performance of football club fan tokens listed on Binance’s spot market in USDT.

Binance fan tokens

Binance currently offers fan tokens for four sports clubs; football clubs Lazio, Santos FC, FC Porto, plus the Alpine Formula 1 racing team. According to the latest data from CryptoSlam, these four fan tokens currently dominate the market capitalization rankings, with the top two appreciating around 200% in the past 30 to 90 days.

Source: CryptoSlam Fan token utility

While these fan tokens are currently surging, this is a more recent phenomenon, as most fan tokens fizzled following their respective releases, largely disappointing their intended users.

Fan tokens emerged as a consequence of the pandemic. Most fans were unable to attend matches, many of which were played in empty stadiums, which also hit the bottom line of major soccer clubs hard. Sales at Europe’s top 20 revenue-generating clubs dropped 12% to 8.2 billion euros ($9.9 billion) last year. 

In order to make up for this lost revenue and renew engagement with fans, many of these clubs took to issuing fan tokens. These fan tokens enable teams’ supporters with benefits, which can include VIP rewards, promotions, and games, exclusive merchandise, as well as access to certain polls and forums. However, it seems that clubs have largely neglected to promote these features.

“The problem with fan tokens is (that) the clubs do not actively promote them or the utility the tokens have,” said XCAD Network CEO Oliver Bell. “The people that are buying them are not necessarily fans of the clubs at all; the only buyers are crypto enthusiasts.”

Yet, these crypto enthusiasts are proving to make the difference, as global sales of fan tokens have skyrocketed this summer. This stands in particular contrast with non-fungible tokens (NFTs), which have struggled comparatively as of late.

Source: CryptoSlam

The FIFA World Cup 2022 will take place in Qatar between 20 Nov to 18 Dec.

The post Binance to Launch Football Fan Token Futures Index, Just in Time for World Cup appeared first on BeInCrypto.

origin »

Blockchain Index (BLX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 BLX

index world binance token fan launch cup

Источник: beincrypto.com

index world → Результатов: 126


Фото:

World’s First Tokenized Crypto Index Fund Turns 4

Crypto20, the world’s first tokenized cryptocurrency index fund, has officially been operational for 4 years. We’re incredibly grateful for the caliber of investors who have joined us on our journey and are eager to continue to deliver access to democratized financial products that are efficient and affordable to people around the globe, regardless of socioeconomic […]

2021-12-3 23:54


Dogecoin Doesn’t Get Into S&P Cryptocurrency Broad Digital Market (BDM) Index Due to Lack of Whitepaper

The world’s leading index provider recently launched Bitcoin (BTC), Ethereum (ETH), and Cryptocurrency Index after showing its interest in December last year. Now, it has been found that S&P’s crypto indices, S&P Cryptocurrency Broad Digital Market (BDM) Index, covers 243 digital assets, as reported by CoinDesk.

2021-7-22 19:10


Grayscale Investments and CoinDesk Indexes Launch Decentralized Finance (DeFi) Fund and Index

New York, July 19, 2021 — Grayscale Investments®, the world’s largest digital currency asset manager, and CoinDesk Indexes, a subsidiary of CoinDesk Inc., the most influential, trusted platform for a growing global community engaged in the transformation of the financial system and the emerging crypto economy, today announced the launch of Grayscale® Decentralized Finance (DeFi) Fund, a […] Сообщение Grayscale Investments and CoinDesk Indexes Launch Decentralized Finance (DeFi) Fund and Index появились сначала на Coinstelegram.

2021-7-19 22:58


Фото:

S&P Dow Jones Launches 5 New Cryptocurrency Indices

S&P Dow Jones Indices, the world’s leading index provider, announced Tuesday the launch of five new cryptocurrency indices. The company now has eight cryptocurrency indices in total. The first newly added index is the “S&P Cryptocurrency Broad Digital Market (BDM) Index,” which “provides a wide performance snapshot of the cryptocurrency market and includes more than […]

2021-7-13 20:00


City Index Review 2021 – Legit or Scam?

City Index has been around since 1983, delivering Spread Betting, FX and CFD Trading services from the heart of London. They currently offer Forex, Index, Share, and Commodity trading on over 12 thousand markets to customers all over the world, claiming they place significant emphasis on helping their traders grow by giving them the tools […] The post City Index Review 2021 – Legit or Scam? appeared first on CaptainAltcoin.

2021-1-4 13:29


Фото:

Venezuela’s Bitcoin Use Soars Amid Hyperinflation: 3rd on Global Crypto Adoption Index

Venezuelans have become increasingly interested in cryptocurrency as their country faces dire economic crisis and hyperinflation, a new study by blockchain data analytics firm Chainalysis shows. The firm’s Global Crypto Adoption Index ranks Venezuela third as “The country has reached one of the highest rates of cryptocurrency usage in the world.

2020-8-31 17:30


Фото:

Latest CCID Blockchain Rankings Place IOST 1st in Basic Tech, 4th Overall

Recently, the China Electronics and Information Industry Development Institute (CCID Research Institute) released the 18th issue of the Global Public Chain Technology Evaluation Index. Notably, the latest issue of the index, that ranks the top 37 public blockchain projects in the world has put IOST at a respectful 4th position — rising up a spotRead MoreRead More.

2020-6-19 09:07


City Index Review 2020 – Legit or Scam?

City Index has been around since 1983, delivering Spread Betting, FX and CFD Trading services from the heart of London. They currently offer Forex, Index, Share, and Commodity trading on over 12 thousand markets to customers all over the world, claiming they place significant emphasis on helping their traders grow by giving them the tools […]The post City Index Review 2020 – Legit or Scam? appeared first on CaptainAltcoin.

2020-1-2 22:29


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

CME Group Launching Euro Crypto Futures

The owners of one of the world’s largest derivative exchanges announced that they will be offering two new futures products based on cryptocurrencies. The post CME Group Launching Euro Crypto Futures appeared first on BeInCrypto.