Binance and Brazilian Football Confederation Team Up To Create Ultimate Fan NFT By Benzinga

Benzinga – On the eve of Brazil’s professional soccer season, Binance (CRYPTO: BNB) and the Brazilian Football Confederation introduced a non-fungible token (NFT) aimed at increasing fan engagement and drawing in more customers.

The complementary NFT from the world’s largest cryptocurrency exchange promises fans “access to technology that will enhance the match experience and grant unique perks,” according to a joint statement from Binance and Brazil’s soccer governing body, The Block reported.

The initiative also seems designed to attract new clients, as existing customers can “redeem their NFTs by referring friends to open an account on the exchange.”

While the United States grapples with regulatory discussions that may limit the expansion of crypto-related businesses and broader consumer growth, Brazil appears to be a more welcoming environment for exchanges like Binance (CRYPTO: BNB) and Coinbase (NASDAQ: COIN).

In 2022, Brazil’s president signed legislation that established a regulatory framework for the trading and use of Bitcoin (CRYPTO: BTC).

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“We believe crypto and blockchain are the future of money and the internet, bringing indisputable benefits to people, especially in developing countries,” Guilherme Nazar, Binance’s country manager in Brazil, said in a statement.

“We are sure that this historic launch will allow more Brazilians to feel closer to their clubs and learn about crypto so that they can take advantage of what this technology has to offer,” he added.

Fans who acquire one of the NFTs will become part of a “Fanverse,” where they can participate in “gamified” experiences, win prizes and tickets and enjoy lower trading fees when using Binance, the statement notes.

Brazil’s national soccer team has a storied history of success on the international stage, having won the FIFA World Cup five times, and the country’s professional league boasts one of the largest and most passionate fan bases worldwide.

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Photos: Shutterstock

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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