Fan tokens: How Web3 is changing the fan experience

How fan tokens work 

Fan tokens are issued by blockchains like Chiliz in collaboration with sports teams, leagues and organisations. These tokens are often tied to specific teams or leagues, allowing fans to own a piece of their favourite sports organisations.

Benefits of fan tokens

• Exclusive experiences: Fan token holders often have access to exclusive experiences, such as VIP meet-and-greets, behind-the-scenes tours, and priority access to tickets.
  
  
• Voting rights: Many fan tokens grant holders the right to vote on team-related decisions, such as club merchandise or stadium improvements.
  
  
• Rewards and discounts: Fan token holders may receive exclusive rewards, discounts, or merchandise.
  
  
• Community building: Fan tokens can foster a stronger sense of community among fans by providing a shared digital asset.

Chiliz: The first platform for fan tokens

The Chilliz Chain is a blockchain platform designed specifically for the sports industry. It lets sports teams create fan tokens, which are digital assets that provide fans with a new way to engage with their favourite teams by voting on club decisions, accessing exclusive content and merchandise, and participating in VIP experiences.

How Chiliz works

The Chiliz platform is built on the Chiliz Chain, a permissionless blockchain specifically designed for the needs of the sports industry. CHZ is the native cryptocurrency of the Chiliz platform.

The Chiliz Chain recently underwent a hard fork called Dragon8, which introduced several upgrades. One of the goals of the Dragon8 hard fork was to make the platform more efficient, scalable, and attractive to developers. The aim is for this to benefit the entire Chiliz ecosystem, including sports teams, fan token holders, and the Chiliz community.

Disclaimer

This article is distributed for informational purposes, and it is not to be construed as an offer or recommendation. It does not constitute and cannot replace investment advice.

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