Galatasaray Fan Token price
in USDAbout Galatasaray Fan Token
Disclosures
Galatasaray Fan Token risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading Galatasaray Fan Token. All crypto assets are risky, there are general risks in investing in Galatasaray Fan Token. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
Galatasaray Fan Token’s price performance
Guides
Create a free OKX account
Fund your account
Choose your crypto
Galatasaray Fan Token FAQ
Galatasaray is a fan token on the Socios.com platform. It offers fans a unique opportunity to have a say on many club-related decisions. GALFT token holders also get exciting rewards for participating in polls and club campaigns.
As a fan token, GALFT offers voting rights and club membership services. Fans can influence club decisions and increase engagement through binding and non-binding polls. Superfan token holders can also access in-person meets and VIP club memberships.
Dive deeper into Galatasaray Fan Token
Galatasaray is a fan token representing an Istanbul-based professional football club. GALFT is the name and ticker symbol of the Galatasaray fan token. The Galatasaray football club is an Istanbul-based club that competes in UEFA Champions League, UEFA Europa League, Turkish Cup, and Super Lig competitions.
The Galatasaray club used the fan voting and rewards app, Socios.com, to launch their fan token that offers voting rights and other fan-oriented services. Sports fans can buy GALFT tokens using Chiliz (CHZ), the digital currency of the Socios.com platform. Additionally, the club hosted a fan token offering (FTO) to give fans an equal opportunity to purchase GALFT tokens at the initial price.
GALFT token holders can voice their opinions to the Galatasaray football club through binding and non-binding polls. Through binding and non-binding polls, GALFT token holders can voice their opinions and influence decisions made by the Galatasaray Club.
While the club must follow through with the final decision voted by fans in a binding poll, they are not obligated to fulfill popular fan opinions in a non-binding poll. Having more tokens leads to a more significant impact on the poll result. However, the club has limited the amount of GALFT tokens a fan can buy to ensure a fairer voting process.
GALFT tokens can also support other sports teams in the country, including basketball and Esports. The club believes this can increase fan engagement for sports outside of football.
GALFT price and tokenomics
The GALFT token has a total supply of 10 million tokens, with over 4 million circulating. Holding GALFT tokens gives owners the power to influence club decisions, actively engage with players, and enjoy exclusive access to various events and experiences.
While GALFT has a total supply of 10 million tokens, the specific distribution model and percentage allocation have not been explicitly specified. However, a significant emphasis is placed on allocating a larger percentage to the community, reflecting the club's objective of fostering active fan participation.
About the founders
The Galatasaray Fan Token team is led by Cem Küçük, a skilled computer engineer and entrepreneur with a strong background in blockchain development. In collaboration with Socios, Küçük launched the Galatasaray Fan Token as a means to empower the passionate fans of the esteemed football club. The team decided to use blockchain to increase fan engagement and create new revenue streams for the club.
Disclaimer
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
