Binance Becomes Official Fan Token Partner of FC Porto

Digital asset exchange, Binance announced a partnership with FC Porto, a leading professional Portuguese football club, today. The company became the official fan token partner of the club.

As part of the agreement, the sponsor, Binance will appear on the back of the shirt and on the sleeve of FC Porto in the 2021/22 season in the following seasons. Additionally, FC Porto Fan Token (PORTO) will be issued through the Binance Launchpad. The Portuguese football club aims to increase its brand awareness through the launch of the PORTO token.

The token will provide a broad fan engagement experience for the supports of FC Porto. Token users will be able to enjoy different rewards through PORTO. Binance fan token platform is one of the most popular 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,” Binance mentioned.

“The official FC Porto Fan Token (PORTO) is a utility token providing fans with revolutionary new ways to engage with their favorite club. PORTO will be available for all Binance users via the Launchpad from today and later via Spot, bank card purchases and P2P,” the company added.

Fan Tokens

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based fan tokens have gained immense popularity in 2021 amid a jump in the global adoption of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and DLT. The latest fan token partnership with FC Porto is not the only collaboration Binance has formed this year. Last month, Binance inked a massive sponsorship deal with SS Lazio, one of the most popular professional football clubs.

While fan tokens are becoming popular among investors, there are several risks associated with the mentioned tokens including high volatility. “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 highlighted.