Binance, a Digital asset exchange, today signed a deal with FC Porto, a professional football club from Portuguese. The brand has become the official fan token partner of the club.
As per the deal, company’s logo will feature on the back of the jersey for FC Porto in the 2021/22 season and will also be a sleeve sponsor in the following seasons. Moreover, FC Porto Fan Token (PORTO) will be distributed through the Binance Launchpad. The Portuguese football club targets to upsurge its brand awareness through this launch.
With this association, they will provide a wide-ranging fan engagement experience for the supporters of FC Porto. The users of the token will be able to enjoy different prizes through PORTO. Binance fan token stage is one of the most famous services of the company.
“By partnering with Binance, the FC Porto Fan Token (PORTO) will be issued via the Binance Launchpad to take the club’s brand to the next level, and to create a more meaningful fan engagement experience for the club’s supporters, through unique and engagement-based rewards, interactivity, gamification and more,” stated Binance.
The company later commented, “The official FC Porto Fan Token (PORTO) is a utility token providing fans with revolutionary new ways to engage with their favourite club. PORTO will be available for all Binance users via the Launchpad from today and later via Spot, bank card purchases, and P2P.”
Blockchain-based fan tokens grew immense popularity in the current year amid a huge rise in the global adoption of cryptocurrencies and DLT. Last month, Binance even has inked a massive sponsorship deal with SS Lazio, one of the most popular professional football clubs. This shows that the latest fan token partnership with FC Porto is not the only deal Binance has made this year.
Though these fan tokens are getting popular among investors, there are risks involved with the mentioned tokens including high instability. “Binance Fan Tokens may fluctuate in value and you should conduct your own due diligence of the suitability of tokens and the risks involved before you enter into any transaction,” the company mentioned carefully.