One of Turkey’s leading sports clubs, Fenerbahçe S.K., has decided to launch its own token to involve its fans in the club’s most important and significant choices while providing a new tool from which to potentially profit.
Cryptocurrencies: a new frontier for the sports world as well
The choice of the Fenerbahçe S.K is a forward-looking decision that is in step with the times.
This stance is partly to be credited to Ali Koç, President of Fenerbahçe S.K., who said:
“We are delighted to welcome the Fenerbahçe Token to our growing ecosystem.
The sporting realm is a booming sector within the digital token economy and the source of much innovation, enabling clubs to reward loyalty and develop new revenue streams.”
FB is indeed designed to provide utility to fans of Fenerbahçe S.K., one of the three largest sports clubs in Turkey.
Benefits for FB-holding fans include:
- Having a say in club decisions.
- Participating in surveys that will influence the club’s future.
- Additional privileges such as access to stadium tours.
Bitfinex has decided to list FB
Bitfinex, a very important exchange in the cryptocurrency world, has announced that it will be the first international exchange to list Fenerbahçe Token (FB) for sale.
Paolo Ardoino, CTO of Bitfinex, commented on the news as follows:
“We are delighted to welcome the Fenerbahçe Token to our growing ecosystem.
The sporting realm is a booming sector within the digital token economy and the source of much innovation, enabling clubs to reward loyalty and develop new revenue streams.”
Ali Koç, President of Fenerbahçe S.K., also said he was pleased and excited about this great event, stating:
“As a pioneer bitcoin exchange, Bitfinex represents the very type of venue where the Fenerbahce Token has the potential to flourish.
We carefully consulted local and international companies, before issuing our fan token, evaluating key criteria such as the potential of a token listing, user base and technical infrastructure. In choosing Bitfinex as the global exchange to list the token we took into consideration the high performance of the platform and liquidity of its markets.”
Fenerbahçe Sports Club’s detailed whitepaper
Fenerbahçe S.K.’s whitepaper appears to be extremely precise and detailed.
Indeed, it has already been announced that the maximum supply of tokens will amount to 190,700,000. A symbolic number that refers to the year 1907, when Fenerbahçe was founded.
The project’s whitepaper also stated that 117 million treasury tokens would be created on smart contracts over the next 25 years on an annual basis.
But that is not the end of the story; Fenerbahçe also has a roadmap for the various token burns that will be triggered by the results of the various clubs: soccer, volleyball, and basketball.
The whitepaper also notes that the same will also occur in case of sports success and league wins.
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