Leading cryptocurrency exchange Binance has become the official jersey partner of the popular Italian professional soccer club S.S. Lazio.
Announcing the deal in a blog post on Wednesday, Binance revealed that it had entered into a multi-year agreement with the team.
Binance Launches Fan Token Platform
The cryptocurrency exchange revealed the launch of its Fan Token Platform, with Lazio being its official launch partner and the first sports team to release a token on the platform. Binance, in turn, will become the main jersey sponsor for the soccer club.
The Lazio fan token (LAZIO), a utility coin that provides fans with a way to engage with their favorite soccer team, will be issued via the Binance Launchpad.
The initiative will help take the club’s brand to the global field and create a more thrilling fan engagement experience for Lazio’s supporters via various unique and engagement-based rewards, interactivity, gamification, and more.
The Rome-based soccer team is very popular at a domestic and international level and has won several awards.
Leveraging the reach of Binance will open up new horizons for Lazio and enable it to create a stronger digital presence, connecting more closely to its fans scattered across the globe.
The LAZIO token will initially be made available to users on the Binance Launchpad. However, the exchange plans to bring it to its spot trading platform, add bank card purchases and enable P2P.
Binance Expands its Reach
The Binance Fan Token platform opens up a way for sports fans to engage with their favorite sports teams. It allows users of the exchange to collect fan tokens, NFTs, vote on certain decisions reserved for fans, and even have the chance to meet one-on-one with their favorite sports teams.
The partnership with Lazio is the very first of its kind for Binance. Several other crypto exchanges, on the other hand, have bagged sponsorship deals with some high-profile sports clubs and stars.
Some of the companies that have become very active in the sports industry include CryptoCom and FTX. Both trading platforms have bagged several sports partnership deals in recent months.
In June, FTX secured a long-term partnership deal with the United States Major League Baseball (MLB), while CryptoCom recently became the official crypto platform for the French professional soccer club Paris Saint-Germain (PSG).