PORTO was launched on the Binance Launchpad, a token launch platform. PORTO was the result of a multi-year deal that Binance, the world’s biggest cryptocurrency exchange, struck with FC Porto.

Binance’s partnership with several football teams has already led to the launch of several other fan tokens, including the Lazio Fan Token. Binance’s fan tokens allow football clubs to connect with fans via blockchain technology, coupled with several other exclusive advantages. Teams that sign up for a fan token partnership with Binance receive rewards by referring fans, as well as get to enjoy the exclusivity of a token representing their team.

Tiago Gouveia is the managing director of the project, a marketing manager with a comprehensive history in the world of sports marketing.

There are around 40,000,000 PORTO tokens in existence. About 4,000,000 were allocated to the initial Binance launchpad sale with the selling price of $1 per token, raising a total of $4,000,000.

Over 19.50% of the total supply was in circulation after the initial sale, which amounts to 7,800,000 PORTO tokens. 20% of the supply is reserved for loyalty subscriptions that can be used by fans to gain access to exclusive deals.

15% of the supply was reserved for the team, while another 20% was reserved for developers. The last 35% was made available for the users.

The trading of the FC Porto Fan Token began on Nov. 6, 2021, at 12:00 AM UTC. The trading consists of four steps. The first was the preparation period that lasted till Nov. 16, 00:00 AM UTC, where the average Binance Coin (BNB) balance was calculated to determine the maximum amount of BNB that users could commit later on.

The subscription step started on Nov. 16, 6:00 AM UTC and lasted until Nov. 16 at 9:00 AM UTC to commit their BNB tokens and sign the agreement. In the calculation period, starting on Nov. 16, 9:00 AM UTC to Nov. 16, 10:00 AM UTC, the token allocation calculation began.

Finally, in the last step, starting at Nov. 16, 10:00 AM UTC, the tokens were allocated to the users who committed their BNB tokens.

The holders of the PORTO token can easily interact with the players of FC Porto with the help of non-fungible tokens released by the team. The holders of the fan tokens will have special access to the sale of the NFT series.

Furthermore, the fans will be eligible for meet-and-greets, signed merchandise and other exclusive experiences.

The fan base of the token can increase as time passes and more fans of the clubstart holding the utility token. The sale of the token will help financially support FC Porto.

The token will be integrated with the team’s official e-commerce platform and fans can use the PORTO token to buy the official merchandise and matchday tickets.

Check out another football club and token ,Paris Saint Germain Fan Token.

More of an Italian soccer fan? S.S. Lazio Fan Token is one way to support your team.

For Latin-American soccer fans, see the Santos FC Fan Token

Get the latest crypto news and trading insights with CoinMarketCap Alexandria.