Crypto exchange Binance has launched a new update to its fan token platform that focuses on helping sports teams engage with their fans by offering various rewards to token holders. In an announcement sent to Cointelegraph, the crypto exchange said that its fan club program will now let fans gather points that they can exchange for rewards that range from getting tickets to games, having access to meet and greets, receiving video clips from their favorite players and participation in exclusive dinners with the athletes. Participants can collect points by participating in various fan token activities like voting in polls …

Five years on from its inception, fan token platform Chiliz has launched its own layer-1 Ethereum Virtual Machine (EVM) compatible blockchain ecosystem to support its growth. Chiliz’s fan token ecosystem has long been powered by Ethereum-based ERC-20 tokens, but the validation of the Chiliz ‘2.0’ Blockchain genesis block sees the ecosystem shift to its own layer 1. The new blockchain uses a system of 11 active validators with Proof of Stake Authority (PoSA) consensus, which is touted to provide faster block times, lower fees and energy usage. According to the project’s documentation, Chiliz Chain 2.0 is a hard fork of …

Scuderia Ferrari, the racing division of luxury carmaker Ferrari, joined the growing list of Formula One racing teams to end partnerships with their cryptocurrency sponsors. Ferrari exited its multi-year partnership deals with Velas Blockchain and chip manufacturing giant Snapdragon, resulting in a cumulative $55 million loss for the Italian team ahead of the 2023 season. The Ferrari-Velas partnership from 2021 — set at $30 million a year — was aimed at increasing fan engagement through nonfungible tokens (NFTs) and other shared initiatives. However, the team was noncompliant with the clauses that permit Velas to create NFT images, according to RacingNews365. …

The FIFA World Cup in Qatar is boosting the value of national soccer club fan tokens despite the cryptocurrency bear market. World Cup Qatar hype boosts fan token prices These digital fan tokens are currently rallying despite the cryptocurrency market downturn, securing up to 170% gains from the Nov. 10 lows. At the core of the massive uptrend is the World Cup, which will be held from Nov. 20 to Dec. 18 in Qatar. Fan tokens are cryptocurrencies that enable fans to engage with and participate in their favorite team's decisions. Moreover, they create new sponsorship opportunities for sports clubs …

The crypto community never shies away from deploying new cryptocurrencies that are themed on current events, and Halloween was no exception. The industry saw an influx of Halloween-themed cryptocurrencies hoping to cash in on the hype around the festivities. Halloween-themed cryptocurrencies have taken over the crypto ecosystem on Twitter, typically offering no real use case or future for investors. Projects like these have a track record of being sourced as an off-the-shelf product, which can be quickly renamed and deployed in the free market for trading. Our target is 50 millions market cap an 0.01$ price — Halloween Token (@CyberMetaWorld) …

Guinness World Records has added Bitcoin (BTC) and a number of blockchain events in the latest edition of its record book under the category of “Cryptomania.” The recognition of crypto by a mainstream staple such as Guinness World Records indicates that blockchain and digital assets were among the most publicly touched-on subjects over the past couple of years. The 2023 edition launched last month, has seen a number of notable crypto achievements included which spanning Bitcoin, crypto adoption, fan tokens, and NFTs. Bitcoin was unsurprisingly recognized as the most valuable cryptocurrency with its market cap of $816.69 billion as of …

Fan token company Chiliz has continued to expand its workforce despite the ongoing bear market, reflecting a growing trend in the fan token sector. The overall cryptocurrency market has seen a massive selloff in 2022, with the total market capitalization plummeting 60% since the beginning of the year. Some major crypto companies, including Coinbase and Gemini, had to cut their workforce by 10%-20% to maintain operations and continue serving their clients. While a wide number of crypto businesses have faced challenges amid the cryptocurrency winter, the fan token industry appears to have shown some resilience. Chiliz has increased the company’s …

Nonfungible tokens (NFTs) and the sports world are on a mutually beneficial trajectory into the next generation of connectivity. The latter is a catalyst for more mainstream adoption, with average sports fans rushing to collect NFT memorabilia and Web3-backed event tickets. While NFTs give the industry never-before-experienced levels of democracy and the connectivity which fans crave. The platform FANtium is using NFTs to take financing athletes to the next level. Fans can use digital assets like bets on the future success of their favorite up-and-coming sports stars. However, instead of placing a bet and walking away with only a monetary …

Manchester United Fan Token (MUFC) is a dead coin and not related to the sports franchise, but one Elon Musk tweet was enough to revive it on Aug. 17. Also, I’m buying Manchester United ur welcome — Elon Musk (@elonmusk) August 17, 2022 Fake Man U token pumps after Elon Musk's tweet To clarify, MUFC is not an official Manchester United crypto token. It came to life in August 2021 after a team of programmers, who said to be hardcore fans of the Manchester United, falsely claimed that holding MUFC would give them influence on the football club's decisions. The …