Bybit, one of the largest cryptocurrency exchanges in the world, is listing seven football fan tokens on August 19, 2022.
The event ranks as one of the largest fan token listings ever as several top-ranking clubs in Europe will go live. England’s English Premier League clubs, Manchester City ($CITY) and Arsenal ($AFC) are the two clubs representing the country. The Italian Serie A features three clubs in Juventus ($JUV), AC Milan ($ACM), and Inter Milan ($INTER). France and Spain have one representation each in Paris Saint-German ($PSG) and Barcelona ($BAR) respectively.
The significance of fan tokens is in allowing holders to influence certain decisions in the club’s processes. It is in a bid to improve fan inclusiveness. This way, fans can vote on jersey selections, stadium size, and even starting 11 players for the team’s friendly matches.
As rewards, the token holders can win exclusive prizes such as VIP experiences, reduced prices for home games, and even participate in competitions.
Bybit launches the fan tokens with a competition
To celebrate the launch of the fan tokens, ByBit will launch two competitions. The first is a prize pool of 100,000 USDT, and to be eligible for the prize money, users simply need to buy or trade one of those seven fan tokens.
That is not all, the worth of the trading volume must be equal to, or more than, 100 USDT worth of the fan tokens. The promotion will last for fifteen days (Aug. 19, 2022, to Sept. 2, 2022)
The second promotion, which runs concurrently with the first, requires users to participate in the 100,000 USDT bonus if they have a trading volume of at least 100 USDT on Bybit’s Spot platform.
According to Bybit’s CEO, Ben Zhou,
“Bybit shares the core values of professional sports, including integrity, teamwork, and a drive to be the best. Fan tokens are another addition to a long line of competitive events and sponsorships we have hosted, including our World Series of Trading, and ongoing partnership with Oracle Red Bull Racing. We’re always proud to be helping passionate fans connect with their teams and sporting idols.”
This is not the first time Bybit will make an entry into the sporting space. It partners with many sports, including Formula One Racing, Oracle Red Bull Racing, esports teams NAVI, Astralis, and Alliance, and Borussia Dortmund, a German football team.
