Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Community Coins & Tokens => Topic started by: Crypto Fella on June 08, 2024, 04:54:52 PM
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Ever since the development of blockchain, the place it has been used the most has been in the crypto sector where it is used to create and record transactions and while we could see this used also to store records in the hospital, I am beginning to see it in the sports sector.
One I came across recently that made me pause and think is GAL token, which is the official digital token for Galatasaray Turkish football club that was founded in 1905 by the students of Galatasaray Lyce in Istanbul.
I wondered what they saw in the blockchain industry . That made them think of creating the token and found out that the aim was to use it in making decisions for the club by the fans, meaning they can vote with it and also influence the managers' decisions with it. Now how do you see this and is this not like politics in crypto?
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I guess you mean Fan Token such as PSG token, Barcelona token, City token, or the like. These tokens are associated with the clubs, they are official tokens. Regarding the functions, I think it depends on the club itself. If it is possible, the tokens may be available to get products/merchandise or to vote on certain decisions. Actually, the concept is interesting because it has the advantage for the clubs and the fans. However, I think it is still not so popular until now and the prices of the tokens are too volatile.
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Actually many football fan token were launched on different exchanges like Binance, the likes of Juv, Roma, Man City and Baca fans token were successful tokens. I think that the purpose for these fans token is primarily for Voting among fans on certain management decisions of these clubs that may work against the progress of the teams.
Fan token are also meant to incentivze fans who regularly participate on Voting, though there may other purposes for each clubs.
Fan token are traded just like other crypto coins, and the prices go accordingly with the crypto market movements on the daily basis.
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Will be checking on the page post time to time to secure more information on block-chain for this September.
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Now how do you see this and is this not like politics in crypto?
Well a fan token is basically a proof of you support of you support of a specific club,team , player or league. By holding a portion of your supporting individual you can show your respect. Business terms you're a share holder.
Fans holder may choose some of decision my supporting them like the color of joursey , who will be the key player.
Donld J Trump recently launched his fan based meme token before his election. By holding it you can show your respect and support to him. Maybe after win of his ellection he can give a wefty profot of it's holder by developing it further.
so at the end It measure your belive and supprt to the team if your team win you may or may not gain something but it's the love for your team which you can't express or buy by money.
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In my perspective, the fan or club token is just to show the world that how much support they got for real because not every regular fan will spend their own money while the hardcore fans will be ready to do anything and club or player is just exploiting their patriotism towards the team since those tokens has no real world use unless the club collaborate with payment processors and try to make it acceptable and build an ecosystem for the token.
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I think it all started out with some chiliz project and then the football tokens came out. I don't think that there is so much with these tokens in utility aside from being a proud fan of that team's token and then able to spend them for the merch that they sell. Other any utility that it has got is all about related to the teams and fans that do like to get together and that will be one of the perks that it has got. But then I don't see anything relevance on it anymore just that.
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I actually love the idea behind fan token and if the project can then bring in more use-cases to add value to what one is holding then it can be appreciate by the market. And I guess this idea goes beyond sports as anybody or anything that achieve some celebrity statues with good level of following can take advantage of the blockchain technology to create more ways and means for fans or followers to experience what they can be looking for. In the next few years, am sure there can be more popular clubs who will do this route and there can be more celebrities to take interest of this possibility.
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Fan token is basically a support token from different sports especially sports like football. Many football clubs globally initiated the idea of a fans support tokens, it is actually to enhance clubs supporters on voting rights on certain management decisions. Fan token can be used to incentives members for their continuing royalty and support from their various clubs
Again, Fan token holders may be able to go with team on a tour, or a priority access to match tickets etc.