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What are Fan tokens? Tokens are generally assets that can represent proof of ownership or even membership. As tokens are already being used for a wide range of purposes, many specialized blockchains have been developed with native intent to support tokens, the most common of which is currently Ethereum and their ERC standard tokens. Socios.com is an app for football (soccer) fans, where users acquire voting rights to influence the clubs they support by acquiring club-specific Fan tokens.
How do Fan tokens work? Chiliz ($CHZ) is an ERC20 utility token on the Ethereum blockchain that serves as the digital currency for the chiliZ and Socios.com platform. In launching their platform, alongside other sports blockchain ventures, a new category of token has emerged — the Fan Token. Once onboard the Socios.com platform, yet to-be-announced club partners host what has been called a Fan Token Offering (FTO). Fans must purchase $CHZ via a cryptocurrency exchange in order to acquire Fan Tokens. These tokens — which are specific to a team or club — are a finite, digital asset that provide access to an encrypted ledger of voting and membership rights ownership.
reference| Full Form | Category |
|---|---|
| Gorna Orechovitsa | Airport Code |
| Gold-Ore Resources LTD. (de-listed) | Business |
| Göztepe S.K. Fan Token | Cryptocurrency |
| Glory of Zion | General |
| Goal Oriented Zoning | General |
| GOLSAR | Indian Railway Station |
| German Occupation Zone | International |
| Grand Rapids, Minnesota, USA (Grand Rapids, Michigan, is GRR) | Regional |
| Gorna Orechovitsa, Bulgaria | Regional |
Posted on 20 Sep 2024, this text provides information on Miscellaneous in Cryptocurrency related to Cryptocurrency. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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