Chiliz News has published a new report on the launch of the FOOTBALLUSDT Football Fan Token Index on Binance, which will act as a perpetual futures contract for assorted Football Fan Tokens on the platform.
Frisco,United States - October 19, 2022 /PressCable/ —
The latest report celebrates the launch of the new crypto price index as an advancement in fan engagement functionality that will allow fans to interact with their favorite teams in new ways. It is available for trading 24 hours a day.
More details are available at https://chiliznews.com/footballusdt-football-fan-token-index-perpetual-futures-contract-launched-tracks-binance-spot-market
The newly published report highlights that the index will monitor the performance of football club fan tokens on Binance’s Spot platform, a derivative crypto market focused on the Tether stablecoin. Fan tokens, the report states, are a relatively new development, particularly in the football world, which has been slow to adopt blockchain technology in general.
Chiliz News highlights the contract specifications of Binance’s adoption of this index pertaining to various contract details like maximum leverage and tick size. Following this adoption, Binance, as the host platform, will be responsible for adjusting these factors in response to market variation.
Fan tokens thus far have variable utility, but may allow fans to participate in interactions like sports betting, exclusive merchandise drops, or relevant DAOs.
So far, Binance has observed the rollout of four fan tokens on its platform, namely those from Santos FC, S.S. Lazio, FC Porto, and the BWT Alpine Formula 1 team.
Chiliz News’ report also briefs readers on Binance’s parallel launch of its USDC perpetual contract program. The report goes on to explain the ways in which this program could be useful to those looking to trade their USDC balance on Binance, as it allows a seamless transition between Fiat currency and the USD-backed stablecoin.
A pilot program, the report notes, has also been launched by the Binance platform to test the utility of digital NFT tickets, at all home matches scheduled to take place this season in S.S. Lazio’s Stadio Olimpico.
Chiliz News has been established to cover the rapidly expanding world of sports NFTs and other related blockchain projects. With so many new projects being announced recently, the world of sport and crypto collaboration is expected to reach $5 billion in the coming months, and Chiliz will be there to cover it all.
Additional details can be found at https://chiliznews.com
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Organization: Digital Shoutout, LLC DBA Chiliz News
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Website: https://chiliznews.com
Source: PressCable
Release ID: 89083489
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