The soccer industry is showing strong initiative in adopting Web3 technologies such as cryptocurrencies, NFTs and the metaverse, leveraging them in exciting ways to create new avenues for fan engagement.

Although Web3 is still in its infancy, and no one can be sure what this future internet will ultimately look like, that hasn’t stopped some of the world’s biggest football clubs and players from exploring how it can help improve their relationships with their fans. .

So what does fan engagement look like on Web3?

One company that is trying to find the answer to that question is Binance, the world’s largest cryptocurrency exchange. He approaches the intersection of Web3 and sports with the understanding that fans want to support clubs and athletes that mean something to them. If possible, those fans want to meet their sports heroes and interact with other fans. Above all, they want recognition from their clubs and the players they love, which is what Web3 can do.

The key to Web3 is that its infrastructure supports active fan participation and rewards them for doing so. These rewards can be guaranteed with an integrated utility and an efficient payment system based on decentralized technology. For fans whose actions are automatically rewarded, it motivates them to get more involved.

Binance has taken advantage of this with the recent launch of the Binance Football Fever 2022 Challenge, which is a prediction game for fans who think they can guess the outcome of the Qatar 2022 World Cup matches. The game is open to everyone – everyone. all they have to do is sign up for a free NFT Passport and start submitting their predictions on each game. Fans are awarded NFTs based on their successful predictions, and those who get the highest score each day can win up to $1,000 in daily cash prizes. There are bigger prizes, too, and the most successful players at the end of the tournament get the chance to win premium club experiences, including stadium tours and “meet and greets” with players at top clubs like Lazio, FC Porto, Santos and BWT Alpine. Formula One racing team.

The competition is still running, but it has already been a huge success, Binance added almost 30,000 new users and gave out more than 150,000 NFT passports for the competition.

It’s not just the biggest clubs in world football that are taking part in the Web3 sports revolution. Some of the world’s most notable gamers are also joining in on the fun. They include Portugal and Manchester United superstar Cristiano Ronaldo, who recently partnered with Binance to create a new NFT collection that allows him to connect with his biggest fans and build loyalty.

Never someone who is ashamed to improve their image, Ronaldo tweeted about partnering with Binance, saying that the NFT collection is available to any of his fans who want to purchase one and own some of the most iconic moments of his career. He also revealed that NFT holders would have a chance to win some exclusive giveaways. Unsurprisingly, the collection was a huge success when it launched on November 18, selling thousands on the first day.

In addition to players and clubs, a lot of Web3 startups are getting involved in football and the sports industry in general. Names like Dapper Labs, Partners, Sorare, and Chiliz are helping teams and players engage with their fans and monetize with a variety of NFTs and crypto-based games and digital collectibles.

Meanwhile, TopGoal plans to launch a new soccer-focused metaverse that will bring new utility to Binance Fan Tokens. Within the TopGoal soccer metaverse, Fan Token holders will be able to purchase digital versions of their favorite teams’ jerseys and participate in “virtual SocialFi experiences, virtual leagues and tournaments” that promise to bring them much closer to their sporting heroes.

More than anything else, Web3 in football aims to encourage more fan participation, and that is the main utility benefit of Binance Fan Tokens. Earlier this year, he added a new mechanism to his player of the month votes with partner club Lazio. Whereas last season, players received tokens for winning the POTM prize, this season, Binance introduced a new charity angle. At the end of the season, the Lazio player with the most POTM prizes will be able to donate 65,000 Lazio Fan Tokens to the charity of their choice, with the runner-up receiving 35,000 tokens to make a similar charitable donation.

It is another great initiative from Binance promoting the positive impact of cryptocurrency and Web3 in sports and it seems certain that as more fans join in, we will see even more innovations related to cryptocurrency, NFTs and soccer in the coming years.