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Major Turkish sports club Fenerbahçe issues fan token on Ethereum

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The famous Turkish football club Fenerbahçe SK has announced the release of a virtual token for its fans. Based on the official statement, in this way the club’s management wants not only to get closer to their fans, but also to significantly increase their profits.

It is known that the release of tokens took place on the basis of the Ethereum distributed ledger technology. Note that in order to implement this plan, Fenerbahçe SK entered into a partnership with the popular Turkish trading platform Paribu. Thus, the token will be sold through Paribu. On the basis of this exchange, in fact, the initial sale of FC coins launched. This event happened yesterday, in just 30 seconds, 500,000 tokens worth over $ 1.75 million were purchased.

Partnership opens up a world of new opportunities for Fenerbahçe

Fenerbahçe executives noted that this new partnership opens up a world of new opportunities for them in terms of engagement with fans and global reach, as well as another milestone in their digital transformation strategy.

The launch of its own token is part of a “global strategy to attract new fans to the club”. In this connection, tokens for the club are another marketing tool, along with the sale of merchandise. They should attract those fans who do not live in Turkey and do not go to the team’s games. For them, the token will become a convenient way to feel closer to the club

In addition, the FC management announced that a total of 190,700,000 tokens planned to issued for fans. Note that the fans will associate this number of coins with the period of foundation of the Fenerbahçe company (ed. – 1907).

Fenerbahçe also announced that tokens will be burned when the club receives various achievements in football, basketball, volleyball.

Other football clubs already offer a similar service to their fans.

Coins used to vote on club issues, they also give holders access to various awards and goods.

Fan Tokens also launched by Formula 1 teams Aston Martin and Alfa Romeo.

How do fan tokens work?

Fan Tokens are crypto assets that target sports fans and celebrity fans.

The first type is digital assets that allow their owners to participate in the life of their favorite sports clubs. For example, vote for the color of the new uniform. They also provide early access to ticket sales for sporting events. These tokens transform fans from passive observers into an organized community that can influence the lives of their favorite clubs.

The second type is collectible NFT (non-fungible tokens) with an image of a player or a video of an important moment of the game (for example, a goal). This is a digital analogue of a collectible card.

Are there any prospects for the fan token market?

Football is the largest entertainment market in the world and the most popular sport. Its main games watched by about 3.5 billion people around the world. Paribu is fighting for a portion of this huge audience. Sports fans are very passionate people who passionately keep in touch with their favorite team. The billion dollar market offers them tickets, souvenirs, paraphernalia, collectibles and specialized content. Tokens with the ability to influence intra-team decisions are a logical continuation of this.

Football has all the prerequisites for tokenization to become widespread in it: a huge community, fan demand, idols (opinion leaders). The fact that the top clubs in this industry are still interested in blockchain technology means a lot to the entire industry.

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