Binance Set to Launch Web3 Football Challenge, Offers First-of-its-Kind Experience

UTC by Tolu Ajiboye · 3 min read
Binance Set to Launch Web3 Football Challenge, Offers First-of-its-Kind Experience
Photo: Binance / Twitter

Crypto exchange Binance will launch a blockchain-backed football initiative where fans can win several exclusive prizes.

Binance is on the verge of launching a new online challenge for global football fans, with $1 million in potential rewards. In addition to $1 million worth of tokens, Binance Football Fever offers a host of other additional perks. These include limited edition non-fungible tokens (NFTs) as well as premium club experiences such as training ground tours. Additionally, football fans will also have the chance to physically interact with their favorite players in meet-and-greet sessions.

Binance’s new football initiative will reportedly go live on November 7th at 8 am Eastern. The project’s underlying purpose is to connect people across the globe together and foster the football community. The leading crypto exchange states that fans can begin to play by first claiming their free NFT Passports as of November 7th. In addition, fans would also need to submit predictions of upcoming matches to support their favored teams between November 11th and December 18th.

Binance Football Fever Offers Inaugural Web3 Experience

The Binance Football Fever 2022 initiative will be a first-of-its-kind Web3 experience backed by blockchain technology. Some of the popular sporting brands already on board this offering include S.S. Lazio, FC Porto, Santos FC as well as Formula 1 racing team; BWT Alpine F1® Team. Furthermore, new users and holders of Binance Fan Tokens also get to benefit from special bonuses and multipliers in the games.

Commenting on the football initiative, Lisa He, Head of NFT and Fan Tokens at Binance, enthused:

“Fans around the world will be tuning in to watch this historic tournament and we’re thrilled to be able to make those celebrations even more memorable.”

In addition, He provided further exposition on the crypto exchange’s sport-oriented scheme, saying:

“Not only is this a great way to feel a part of the action and have some fun, players have the chance to win incredible prizes, totally unique experiences and collectible NFTs. To make this experience even more special and allow fans to celebrate it with others, fans can also invite others to the game and challenge them to enjoy the fun together.”

Additionally, users can log on to Binance.com or the Binance app for further guidelines. For instance, new Binance users can sign up for a trial where they will register to participate in the daily challenge. Meanwhile, already existing Binance account holders get to play along on an unlimited basis, provided they have their NFT Passport set up.

Binance Fan Tokens

Binance Fan Token is a utility token that facilitates the holder’s experience. For instance, it acts as a medium for teams and brands worldwide to interface with their fans. In addition to monetary perks and rewards the tokens provide, Binance Fan tokens also bestow special privileges on holders. These include exercising exclusive voting rights on certain club decisions reserved for fans.

Users can access Binance Fan Tokens via fiat and crypto purchases.

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Tolu Ajiboye
Author Tolu Ajiboye

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

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