Three relatively unknown crypto assets have erupted after receiving support from the global crypto exchange Binance.
Binance Launchpool, the crypto exchange’s initiative that enables users to farm digital assets for free, says it is adding support for three new tokens: the OG Fan Token (OG), the Atletico de Madrid Fan Token (ATM), and the AS Roma Fan Token (ASR).
The move comes as part of Binance’s partnership with Chiliz (CHZ), a fintech blockchain company that aims to help sports clubs monetize their fan base.
Chiliz runs Socios.com, a platform that allows sporting franchises around the world to sell fan tokens. Holders of fan tokens can participate in exclusive surveys that can influence certain team decisions, as well as gain access to rewards and other privileges.
OG Fan Token lets fans of the OG, an esports club that has gained popularity playing DOTA 2 in the international arena, vote through Socios on fan decision polls posted by the team. After Binance Launchpool announced support for the fan token, OG soared over 721% from $1.75 on December 21st to an all-time high of $14.38 on December 27th according to CoinGecko.
ASR, the fan token of AS Roma Football Club, also gives fans the chance to participate in surveys as well as earn rewards from engagement.
On December 21st, prior to Binance Launchpool announcing its support for the token, ASR was valued at $3.55. The fan token rose to an all-time high of $20.60 on December 27th, printing gains of over 480% in six days.
ATM, a fan token that gives fans of Atletico de Madrid Football Club “a tokenized share of influence on club decisions” via the Socios platform, also skyrocketed after Binance Launchpool announced its support.
ATM surged from a low of $4.08 on December 12th to an all-time high of $21.99 on December 27th for an increase of over 438% within seven days.
With Binance Launchpool’s support, users can now stake Binance Coin (BNB), Binance USD (BUSD), and CHZ into separate pools to earn OG, ASR, and ATM tokens.
The crypto exchange will also open trading for OG/USDT (Tether), OG/BTC (Bitcoin), ASR/USDT, ASR/BTC, ATM/USDT, and ATM/BTC.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Tithi Luadthong