Chiliz News is here to keep you up-to-date on the overlap between the world of sports and the realm of blockchain tech. Their new report details the launch of the new Football Fan Token crypto price index.
The utility of blockchain is still being explored, but one place you might have never expected to see it crop up is on the football pitch. A series of new projects, now live on Binance, are turning that expectation on its head, and Chiliz News is here to tell you all about it.
Their latest report is on the FOOTBALLUSDT Football Fan Token Index perpetual futures contract, which is available for trading 24 hours a day.
To read the full report, visit https://chiliznews.com/footballusdt-football-fan-token-index-perpetual-futures-contract-launched-tracks-binance-spot-market
The report explains that the index will monitor the performance of football club fan tokens on Binance’s Spot platform, a derivative crypto market focused on the Tether stablecoin. Fan tokens, the report states, are a relatively new development, particularly in the football world, which has been slow to adopt blockchain technology in general.
Chiliz News highlights the contract specifications of Binance’s adoption of this index pertaining to various contract details like maximum leverage and tick size. Following this adoption, Binance, as the host platform, will be responsible for adjusting these factors in response to market variation.
Fan tokens thus far have variable utility, but may allow you to participate in interactions like sports betting, exclusive merchandise drops, or relevant DAOs.
So far, Binance has observed the rollout of four fan tokens on its platform, namely those from Santos FC, S.S. Lazio, FC Porto, and the BWT Alpine Formula 1 team.
Chiliz News' report also briefs readers on Binance's parallel launch of its USDC perpetual contract program. The report goes on to explain the ways in which this program could be useful to those looking to trade their USDC balance on Binance, as it allows a seamless transition between Fiat currency and the USD-backed stablecoin.
A pilot program, the report notes, has also been launched by the Binance platform to test the utility of digital NFT tickets, at all home matches scheduled to take place this season in S.S. Lazio’s Stadio Olimpico.
Chiliz News has been established to cover the rapidly expanding world of sports NFTs and other related blockchain projects. With so many new projects being announced recently, the world of sport and crypto collaboration is expected to reach $5 billion in the coming months, and Chiliz will be there to cover it all.
Someday soon, football fans everywhere may be able to seamlessly transfer funds onto Binance, purchase NFT tickets, and see their favorite teams duke it out all without ever worrying about scalpers, lines, or leaving the tickets at home. If the program is successful, this may only be the beginning for the football and cryptocurrency worlds.
To read more coverage from the world of sports NFTs, visit https://chiliznews.com
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
