TL;DR
FC Porto Fan Token (PORTO) is a BEP-20 utility token of the FC Porto football club. PORTO was launched in 2021 via a Binance Launchpad sale, and it gives fans and token holders exclusive experiences and privileges.Â
PORTO holders can participate in voting polls for club-related decisions, such as choosing the warm-up song and the welcome message to display in the next match. PORTO can also be used to purchase FC Portoâs NFT Mystery Boxes, and the NFTs can then be used for staking to earn extra PORTO rewards on the Binance Fan Token Platform.
Introduction
Dedicated fans can now interact with their favorite sports teams and celebrities in a more innovative and direct way in the crypto world. Fan tokens are the latest trend that leverages blockchain technology to create exclusive experiences for sports enthusiasts and fans alike.
What are Binance Fan Tokens?
Binance Fan Tokens are utility tokens associated with sports clubs, teams, celebrities, or brands with a large fan base. Fan token holders can enjoy unique fan privileges, such as accessing exclusive pre-sales for event tickets and collecting special Non-Fungible Tokens (NFTs). In some cases, they can also influence club-related decisions like choosing new team uniforms, entrance music, and more. The Binance Fan Token Platform is the official partner of several football teams, including the S.S. Lazio (LAZIO), FC Porto (PORTO), and Santos FC (SANTOS).
Unlike NFTs, Binance Fan Tokens are completely fungible tokens. Just like BNB, Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies. Being fungible means that every token unit holds the same value and utility.
What is FC Porto Fan Token (PORTO) and how does it work?
Founded in 1893, the FC Porto football club has won the most international titles in the Portuguese Premier League and many other impressive achievements across Europe, such as the UEFA Champions League. To incentivize its worldwide supporters, the club partnered with Binance in 2021 to release the FC Porto Fan Token (PORTO).
PORTO is the second sports fan token released through a token sale on the Binance Launchpad. It is a BEP-20 utility token on the BNB Chain (former Binance Smart Chain, BSC), with a total token supply of 40 million.
PORTO has several fan-engagement use cases within the Binance ecosystem. As a utility token, PORTO gives holders governance rights to participate in voting polls related to the Portuguese football club. The more fan tokens they hold, the greater influence their vote will have on these fan-related decisions. For example, PORTO holders can choose the team's warm-up song for an upcoming match, as well as the welcome message to display during a match.
Apart from governance rights, token holders can use their PORTO to purchase FC Portoâs NFT Mystery Boxes. These mystery boxes contain neutral, rare, or super rare NFTs from a unique collection. For example, the first PORTO NFT collection featured the teamâs legendary goalkeepers.
The PORTO NFTs are more than digital collectibles. They can also be used for staking on the NFT PowerStation, an innovative gamification feature on the Binance Fan Token Platform. By charging the required NFTs, fans can power up their fandom and claim extra PORTO rewards. The longer their NFTs are charged, the better their fan rewards. The NFTs can also be traded on the Binance NFT Marketplace.
In the future, token holders will be able to use their PORTO for loyalty subscriptions, such as earning special rewards and fan badges, going to âmeet and greetâ events with team players, and receiving free merchandise. Fans can also use PORTO to purchase match tickets and pay for memberships on FC Portoâs e-commerce platform via Binance Pay.
How to buy PORTO on Binance?
You can buy PORTO on crypto exchanges like Binance.
1. Log into your Binance account and go to [Trade] to select either the [Classic] or [Advanced] trading mode.
2. Click on [BTC/USDT] to open the search bar. Enter âPORTO'' to view available trading pairs. We will use PORTO/USDT for this example.
3. Go to the [Spot] box on the right and select your order type. For example, a market order. Enter the amount of PORTO you would like to buy, then click [Buy PORTO] to place the order. Your purchased PORTO will be credited to your Spot Wallet.
Closing thoughts
Fan tokens are fuelling a new era of fan experiences by offering an innovative channel for fans to interact with their favorite teams. With the Binance Fan Token Platform adding new use cases to fan tokens, PORTO is expected to bring more exciting experiences to holders in the future.