Bybit to list fan tokens of seven top football clubs

Crypto exchange Bybit has announced the launch of seven top European football clubs fan tokens. The list includes Manchester City, Paris Saint-Germain, Milan, Arsenal, Barcelona, Inter Milan and Juventus.

Fan tokens allow their owners to get digital rewards from the team, influence decisions made by the club, attend special events and training sessions, and win exclusive prizes.

The exchange will also hold two special promotions with a prize pool of 200,000 USDT. The prize pool is divided into 100,000 USDT for traders and another 100,000 USDT for depositors. In order to participate in the promotion, it is necessary to make a deposit of at least $100 in one of these tokens or make transactions using them. The promotions will be held from August 19 till September 2.

Bybit CEO Ben Zhou noted that the company shares the values of sports, such as teamwork, fair play and the will to win. Fan tokens will help fans become closer to their favourite team and football icons.

Tokens are created in the Chiliz Chain that uses smart contracts. This platform allows transactions to be made in a secure blockchain system.

Football fans have already appreciated the positive prospects of fan tokens, but regulators warn of the risk of investing in such assets.

Binance crypto exchange also cooperates with football clubs and famous players. Last year, the company signed an agreement with Serie A club Lazio, in terms of which the logo of the exchange appeared on the players’ jerseys. In the 2022/2023 new season, the exchange has launched the NFT ticketing for the club’s matches.

Moreover, the company plans to create several NFT collections together with Manchester United striker Cristiano Ronaldo. The first collection will appear at the end of this year.