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On the afternoon of November 5, the Binance exchange announced that it would create fan tokens for Portugal’s FC Porto, and also open the sale of this token on Binance Launchpad.
According to the announcement posted by Binance, the FC Porto (PORTO) fan token sale on Binance Launchpad will be held on November 16, according to the BNB balance recording mechanism to determine the number of fan tokens that users have. can buy. The balance recognition period will last for 10 days, from 07:00 AM on November 6, 2021 – 07:00 AM on November 16, 2021 (Vietnam time).
The fan token PORTO will have a total supply of 40 million coins, with 10% of the total supply being sold to the community through Binance Launchpad. The selling price in USD will be 1 PORTO = 1 USD.
— Binance (@binance) November 5, 2021
The PORTO fan token will allow holders to increase engagement with the team, participate in club-related decision-making, as well as receive a limited number of perks.
Binance CEO Changpeng Zhao said:
“Binance Fan Token is a new way for fans to interact with their favorite team. FC Porto is not only one of the biggest football clubs in Europe, it is open to new developments as well. Through this fan token, fans can collect NFTs, participate in voting and unlock unique Fan Badges, as well as receive rewards based on activity level in the community. We hope this will be a long and successful deal for both sides.”
FC Porto also confirmed that Binance will become the shirt sponsor for the team within the next 5 years. The Binance logo will appear on the back of the shirt for the first year of the contract, and the remaining 4 years on the sleeve.
— CZ Binance (@cz_binance) November 5, 2021
FC Porto president Jorge Nuno Pinto da Costa said:
“This is a partnership we set up to keep pace with the world, using digital assets to get closer to our fans. Anyone who joins FC Porto knows they are coming to a club that wants to be at the forefront of everything.”
Thanks to the above news, the BNB token price surged to $616 as investors massively bought BNB to prepare to join the launchpad, before dropping to $599 at press time.
Thus, FC Porto is the second team to be issued fan tokens by Binance, after Serie A team Lazio in October. Similarly, this cryptocurrency exchange also became a shirt sponsor. for Lazio, with the Binance logo displayed on the chest. LAZIO token price after listing has increased 100 times.
In the past time, the “competitive war” between major cryptocurrency exchanges is gradually pulling into the sports field, as the big players continuously establish cooperation and sponsorship agreements with many sports brands. from popular names like football, basketball, rugby, baseball, esports to “picky” names like hockey, F1 racing and chess.
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