Cryptocurrency exchange platform Binance, recently launched the FOOTBALLUSDT Football Fan Token Index perpetual futures contract. FOOTBALLUSDT tracks the performance of top Football Club Fan Tokens (by market capitalization) that are listed on the Binance Spot market.
The Binance Football Fan Token Index is available for trading 24/7 and can give up to 25 times leverage.
In order to adapt to changing market conditions, Binance will adjust the contract specifications periodically. This may include modifying metrics like tick size, maximum leverage, maintenance margin requirements and initial margin.
Binance also launched its USDC perpetual contracts, a new product that will allow users to trade their USDC balance on the Binance derivative market. The USDC perpetual contract can be used as collateral with no expiration date and place short or long contracts with up to 25x leverage.
Users can place orders depending on the number of cryptocurrencies they hold, such as Bitcoin, Ether, and more. In addition, they can also calculate the profits, margins and losses based on the USDC.
Binance Fan Tokens and NFT Tickets
Binance has launched four Fan Tokens on their Binance Fan Token platform. The Fan Tokens are from Santos FC, S.S. Lazio, FC Porto and the BWT Alpine Formula 1 team. Binance also recently announced a pilot program whereby NFT tickets will be used at S.S. Lazio’s Stadio Olimpico this season.
Binance has perfectly timed the launch of their Football Fan Token Index as most football seasons are imminent or have already begun. Also, the excitement is building towards the 2022 FIFA world cup which is scheduled from November 20th to December 18th in Qatar.
Chiliz Fan Tokens
Fan Tokens were created by sports blockchain provider Chiliz, and are a way for football clubs to generate a new source of revenue by providing membership benefits to their fans. Many of the biggest football clubs in the world such as Paris Saint-Germain, Manchester City, AC Milan and FC Barcelona have launched their club Fan Tokens on Chiliz’ Socios.com fan engagement platform.
Like other cryptocurrencies (such as Bitcoin), Fan Tokens can be traded on exchanges and also share a few other similarities.
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