Turkish club Fenerbahçe SK join fan token fever

Key facts:
  • In the first pre-sale, the tokens sold out in 30 seconds.

  • Token holders will have advantages at the club.

Fenerbahçe SK, one of the biggest football teams in Turkey and Europe, has joined the fan token fever alongside Turkish cryptocurrency exchange Pariban.

The club founded in 1907, launched its tokens on the Ethereum blockchain on August 9. The maximum supply of Fenerbahçe Token (FB) is 190,700,000, as explained

by the platform.

Token holders will be able to trade the tokens starting August 13 and are going to be able to buy a minimum of 15 and a maximum of 200 pieces.

According to the exchange, the pre-sale of 500,000 tokens was sold out in 30 seconds

, the same day of the launch, each FB was priced at USD 3.47, which represented an income to the club of USD 1,735,000.

The commercial agreement between the club and the platform is for 25 years. In that time it will create a total of 117 million tokens in smart contracts annually, according to the

project’s whitepaper.

With the purchase of fan tokens, fans of the Turkish club will have access to meet players, coaching staff and Fenerbahce management in person, exclusive treatment throughout the season, the right to participate in internal club elections and participate in stadium tours.

Turkish club Fenerbahçe SK join fan token fever Fenerbahce president Ali Koç reported that economic problems prompted them to join the fan tokens. Source: fenerbahce.org

Fenerbahçe president Ali Koç considered it important to

dapt to the new dynamics offered by cryptocurrencies. “We have to keep up with the technology and we also have to take advantage of the benefits it gives us,” he said.

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One of the club’s reasons for delving into the world of fan tokens is due to the economic problems stemming from the coronavirus pandemic.

“Those who follow us know that I say this time and time again. The football sector, which is already in a very bad situation, has to generate new revenue,” he added.

More clubs have adopted fan tokens

The adoption of fan tokens continues to grow in the world of sports. Especially in soccer in Europe many teams have opted to earn revenue this way.

Recently, CryptoNews reported that Arsenal Football Club, one of the most important football clubs in England also announced the launch of its own fan token.

Likewise, last March English club, Manchester City, launched its fan token on the platform Partners and Chiliz.

Something that can affect the increase of fan tokens of football teams, are the signings of players. In the case of the French club Paris Saint-Germain, it experienced an increase of 130% of its price with the arrival of Argentine star Lionel Messi to the Parisian team.