On the eve of Brazil’s professional football season, Binance (CRYPTO: BNB) and the Brazilian Football Confederation introduced a non-fungible token (NFT) that aims to increase fan engagement and attract more customers.
The complementary NFT from the world’s largest cryptocurrency exchange promises fans “access to technology that will enhance the match experience and provide unique benefits,” according to a joint statement from Binance and Brazil’s soccer governing body, The Block reported.
The initiative also looks set to attract new customers, as existing customers can “redeem their NFTs by referring friends to open an account on the exchange.”
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While the US grapples with regulatory discussions that could limit the expansion of crypto-related businesses and broader consumer growth, Brazil appears to be a more welcoming environment for exchanges that Binance (CRYPTO: BNB) and Coin base (NASDAQ:COIN).
In 2022, Brazil’s president signed legislation establishing a regulatory framework for the trade and use of Bitcoin (CRYPTO: BTC).
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“We believe crypto and blockchain are the future of money and the internet, bringing undeniable benefits to people, especially in developing countries,” Guilherme NazarBinance’s country manager in Brazil said in a statement.
“We are confident that this historic launch will allow more Brazilians to feel closer to their clubs and learn about crypto, so 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 said.
Brazil’s national football team has a 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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