Les fan tokens, a new way to build loyalty ?

Written by Aurélien Lallemant

Head of communication Le Village By Crédit Agricole PCA, board member International Blockchain Stampede & Village Francophone Côte D'Azur Monaco.

2021-08-20

The token fans want: fan tokens

How do you decentralize a fanbase? You create fan tokens, which are digital assets that allow followers to directly engage with their favorite creators in dynamic new ways. Like some digital assets, these tokens can be used to provide voting rights for upcoming projects, content, physical goods, merchandise, and can even provide access to real-world events. Fan tokens are the blockchain alternative to starting a Patreon, and they are poised to potentially take over as the dominant format of exchange for the burgeoning attention economy.

Sites like Rally.io have exploded in popularity, as they provide platforms for creators to easily launch their own bespoke fan tokens. Popular streamer Alliestrasza has minted a fan token that holds a value of over $26.00 at time of writing, while even indie band Portugal. The Man has jumped into the craze with their own token that enables fans to support their continued musical endeavors directly.

Fan tokens don’t have to be solely reserved for social-media influencers or artists. Chiliz has created a market in the fan token economy for international football clubs. Fan tokens in this sense are even more sought after as diehard footballers can support their favorite clubs directly and engage with them in ways that were never possible before.

This is also a clever way to authenticate the information one may receive from crowdsourcing. For instance, if Barcelona is considering a uniform change, the club could allow their community to vote on the decision, and they would be confident that the system hadn’t been gamed, as each individual vote could be verified as legitimate (and from legitimate fans) on the blockchain.

However, the fan token economy is not just relegated to crypto enthusiasts.

An interesting article from bitcoinethereumnews to read on https://bitcoinethereumnews.com/crypto/when-influencers-and-crypto-meet-the-rise-of-the-tokenized-attention-economy/

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