What are you waiting for? Stake "CAKE" and earn PSG and JUV fan tokens on Pancakeswap.
Does this sound confusing to you? Don't be. BTC is not the only place where Bull market is showing its impact. Blockchain has entered Football and has scored big with these two football fan tokens.
What is Socios.com?
Socios.com is a platform that partners with commercial sports team (mainly football clubs). Every time a team joins Socios.com, fan tokens are generated on Socios.com. The platform app allows users to hunt for fan tokens. The app is based on blockchain called Chiliz with it's native ERC-20 utility token called $CHZ.
Why fan tokens?
As per Socios.com, the fan tokens will give certain administration, management and voting rights to token holders. I think these tokens will be a modern version of the "membership cards" which allow fans to interact with the club they follow. You could be choosing jerseys, grounds, match ups and many more once you have these tokens.
Apart from that, you can trade these tokens with $CHZ on its native blockchain.
How is Binance related?
Recently, Binance announced the launching of PSG and JUV tokens on Binance chain. This cross chain collaboration has opened up the fan tokens market as users can now claim tokens not only through socios.com app but also through staking on Binance Smart Chain (BSC). This has also provide the opportunity for fans to take their tokens outside of their native blockchain and look for buying/selling opportunities elsewhere. This could raise the token price and which is happening right now on Binance. At the time of writing, two fan tokens has seen a sharp price increase of around 180%.
What's on Pancakeswap?
From today onwards Pancakeswap users can stake their "Cake" - a native governance token - to earn PSG and JUV fan tokens for the next 30 days. The tokens could also be paired with BNB to provide liquidity and earn "Cake". The APYs at the moment are insane - 1,150%. Obviously, these will go down but it is still a good opportunity to score big "cake" if you are into it.
Apart from these earning possibilities, it is great to see the tokenization of the sports sector. If done right, this will be a huge opportunity for clubs and their fans.