The Santos FC Fan Token will be issued via the Binance Launchpool and users will be able to farm tokens in the BNB Pool and BUSD Pool for 30 days.
The hope is that the partnership will initially yield as much as $10m for the Club.
Binance CEO and co-founder Changpeng ‘CZ’ Zhao commented that the Binance Fan Token represented a “powerful new way for fans to express their support and love for their favourite teams”.
“Receiving Santos on our platform is an important milestone, as the club is one of the most traditional in Brazil – a country where football is an important part of the national identity,” he said.
“With our entry into the Latin American football culture, Binance will promote amazing activities and new engagement opportunities for fans across the continent who are ready to venture into the world of fan tokens.
“Having Santos on Binance’s Fan Token platform means fans can collect and use NFTs, participate in exclusive polls and unlock badges and rewards based on their level of engagement.”
First Binance partnership with Latin-American football club
Santos FC president Andres Rueda said the club was “excited to partner with Binance through this agreement, which reinforces club’s commitment to providing fans with meaningful experiences with unparalleled access to the engagement platform they need”.
“This partnership further fuels our passion to continue looking for creative and innovative ways to drive engagement solutions with fans and opens a new chapter in our club’s history,” he added.
Santos FC is the only club in Latin America to partner with Binance so far.
Meanwhile, Binance has also partnered with Lazio in Italy, and Porto in Portugal.
After listing, users will be able to exchange SANTOS Fan Token on the following trading markets: SANTOS/USDT, SANTOS/BTC, SANTOS/BRL and SANTOS/TRY.