Fan tokens are digital assets created by sports teams, clubs, or brands to increase fan engagement and create new revenue streams. They are built on blockchain
technology and allow holders to engage with their favorite teams, buy priority tickets, and even vote on club decisions (including choosing a new kit, slogan, or jersey design).
Fan tokens are purchased with cryptocurrency
, and ownership of fan tokens gives certain privileges, such as access to exclusive content or merchandise, voting rights, and potential rewards.
Note that fan tokens are different from non-fungible tokens
(NFTs) in that they are fungible. This means each fan token is equal in every way to another token of the same type, just as one BTC
is equal to another BTC. Fan tokens are seen as a new way to connect fans with their favorite teams and as such, are becoming increasingly popular in the sports industry.