Bybit Launches Crypto Fan Token Competition Ahead of the World Cup

Sport Web3
Bybit Launches Crypto Fan Token Competition Ahead of the World Cup

Bybit, a cryptocurrency centralized exchange, launched a Crypto Fan Token competition to celebrate the FIFA World Cup, which starts this weekend.

Bybit Will Give His Users a Chance to Win Up to 300,00 USDT

The FIFA Football World Cup will kick-off in Qatar this weekend, and Bybit will celebrate it by launching a competition with a prize pool of up to 300,000 USDT (stablecoin pegged to the US dollar issued by Tether). From November 18th onwards, the Fan Token Trophy competition grants Bybit’s users a chance to support their favorite football clubs.

Bybit boasts one of the largest fan tokens collections in the market, including those issued by some of the biggest football clubs in the world by fanbase – Paris St. Germain, Barcelona, Juventus, AC Milan, Inter Milan, Arsenal, and Manchester City.

Football is not the only sport supported by Bybit fan tokens strategy, since the exchange is the Principle Team Partner of F1 team Oracle Red Bull Racing, and lists in its platform exclusive Oracle Red Bull Racing Non-Fungible Tokens (NFTs).

Fan Token Trophy Competition

To take part in the Fan Token Trophy competition and get a chance to win a share of the 300,000 USDT prize pool, Bybit users need to accumulate a trading volume of $100 or over trading pairs of the fan tokens available in the platform. 

Not all trading pairs will be counted as eligible trading volume, only spot trades of ACM/USDT, AFC/USDT, BAR/USDT, CITY/USDT, GALFT/USDT, INTER/USDT, JUV/USDT and PSG/USDT. The USDT/CHZ (native token of the blockchain-based and fan tokens issuer platform Socios) pair will also be eligible for trading volume.

Trades made by Bybit’s free trading bots on any of these pairs will also be eligible to participate in the competition. To promote the event and celebrate the biggest sporting competition of the year, Bybit extended its Zero Fees campaign to users who trade fan tokens.

The Head of Corporate Affairs at Bybit, Gary Hamilton-Walter, said about this competition: 

“Bybit shares many core values with professional sports: resilience, perseverance, passion, and  performance. We constantly strive for excellence and deliver the best and widest range of products in the market. We are fully focused on the future of crypto integration with sporting brands and communities worldwide and we’re ready to take things to the next level, just like those teams assembled for the World Cup. We invite crypto traders and enthusiasts to join us on our journey.”

World Cup Mania in Web3

The FIFA World Cup is not only a time for football and sports fans alike to come together and enjoy top-notch competition and drama-filled matches. It’s also an opportunity for companies to engage in events and challenges that offer their clients a chance to celebrate the World Cup without having to set a foot in Qatar.

Just like this Bybit’s initiative, that’s what Binance (the world’s leading centralized exchange) did by launching the Binance Football Fever 2022 challenge, offering its users more than $1 million in rewards by taking part in match prediction challenges. 

The same Binance will also host a football event through the BNB Chain called Football Fiesta, which will combine on-chain challenges with off-chain events for holders of the Glory Pass NFT for the duration of the World Cup.

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