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By CNBCTV18.com Jan 6, 2023 6:35:01 AM IST (Published)

The Alpine F1 Fan Token (ALPINE) is a BEP-20 token built on the BNB chain. It serves as the utility token of the Alpine F1 team and promises token holders an enriched fan experience. Those who purchase this token will have access to several new and exciting fan engagement activities.

Fan tokens have become extremely popular over the last year or so. Several leading sports teams, including FC Barcelona, Manchester City FC, Arsenal FC, etc, have all launched their fan tokens in recent times. Most of these coins are supported by Chiliz, which is currently the leading fan token platform in the world.

However, another player that has thrown its hat into the fan token arena is the BNB Chain. The blockchain network of the world’s largest crypto exchange has launched a handful of fan tokens in the last few months and is looking to offer some competition to Chiliz, which was so far unchallenged in this domain.

The Alpine F1 Team Fan Token (ALPINE) is one of four fan tokens developed on BNB. And in the short while that it has been around, the token has managed to gain significant ground. It currently ranks second in terms of market capitalization amongst all fan tokens and looks poised to grab the number 1 spot as well.

But what is the Alpine F1 Team Fan Token (ALPINE), how does it work and why should fans purchase it? Tag along to find out.

Alpine F1 Fan Token (ALPINE): What is it?

Launched on February 15, 2022, the Alpine F1 Fan Token (ALPINE) is a BEP-20 token built on the BNB chain. It serves as the utility token of the Alpine F1 team and promises token holders an enriched fan experience. Those who purchase this token will have access to several new and exciting fan engagement activities.

ALPINE is the first F1 fan token on the BNB chain and its third fan token overall. The first fan tokens developed on BNB were the S.S. Lazio Fan Token (LAZIO) and the FC Porto Fan Token (PORTO) which were launched in Oct and Nov 2021, respectively.

In terms of tokenomics, ALPINE has a maximum supply of 40 million tokens, of which 10 percent were sold at the token’s launchpad event at $1 per ALPINE. To prevent whales from buying massive amounts of the token, BNB has also implemented a limit of 10,000 ALPINE per user.

What can token holders use the ALPINE token for?

ALPINE holders are privy to several exclusive benefits and experiences. To begin with, they provide fans access to several voting sessions on the Binance Fan Token platform. These voting sessions allow token holders to influence a number of team decisions. For instance, token holders were recently allowed to vote on the simulator circuit used for training. In the past, they were also allowed to choose the Alpine Esports jersey for 2022 and the livery design for the car.

Besides voting rights, token holders can also participate in several activities and win signed merchandise or access exclusive experiences, such as meet-and-greet sessions with the driver. Users can also stake their ALPINE and receive exclusive digital collectables and fan rewards. In the future, users will also be able to donate their tokens in exchange for loyalty badges.

Conclusion

The Alpine F1 FAN Token (ALPINE) is the ideal way for enthusiasts to become more involved with the team. It creates a more rewarding fan experience and provides a new way for fans to support the racing team they love. Besides the fan-related aspect, ALPINE can also serve as an investment. The token has more than doubled in valuation from its launchpad event, trading at $2.13 at the time of writing. It also has a trading volume of over $5 million, which is up 154 percent over the last 24 hours.