The Porto token sale on Binance – was it a success?

Binance is getting more and more into football. Not only have they become a sponsor of Lazio in Italy, but they are now also a sponsor of the Portuguese club Porto. And in addition, they are hosting the fan tokens for both clubs on the Binance Smart Chain. On November 16th in 2021, the Porto launchpad was taking place on Binance and people could spend their BNB tokens to buy Porto tokens at $1 each.

Just like before, the interest in the token sale was gigantic, meaning that if you wanted to join the sale with 1 BNB, you would only be allowed to actually purchase PORTO tokens for 0,01 BNB (or less). In other words, you were only accepted with less than 1% of the amount with which you subscribed to the sale. But, no matter what, how did it all end? Was the token sale a success? Should you have joined?

fc porto fan token binance

Was the Porto token sale a success on Binance?

If you take a look at it from the investor perspective, it was a big success. It might not have been as big a success as the Lazio launchpad project a few weeks ago, considering that the Lazio token was sold for $1 per token and you could sell it for $20 per token for a couple of days after the token sale (the current price is $7).

They weren’t very lucky with the PORTO sale, because at the time the token was made available for trading, a quite dramatic drop took place for Ethereum and Bitcoin, bringing all other cryptocurrencies down, and thus, creating fear in the buyers, and it also caused the sellers to sell even faster than before. As a result, the Porto token started trading at around $11 and it has remained there for the first two hours after trading started. No matter what, that is still 11x profit compared to the money you initially used to join the launchpad project.

In other words, a big success for investors!

Why do people actually keep their Porto tokens?

To be honest, I am not a big fan of these fan tokens, no matter if they are located on the Binance Smart Chain or on the Chiliz chain. I feel like they are just about making even more money of something, and even if the tokens are supposed to give the owners a say in dealings of the club, there is so much money in football in general, that they will not really have any influence over important matters.

Tokens holders might be able to vote about whether they should listen to Lady Gaga or Michael Jackson during warm-up, or whether or not they should type Porto with black or navy-blue colors on the jerseys, but I still consider those to be small issues. Of course, if you are a big-time fan, you might actually enjoy having a say in such small matters as well, and you might even boast about it to your friends that it is because of you that Jesus Corona on Porto has to listen to this music before a match, or it is because of you that Ciro Immobile has to wear a Jersey with somewhat yellow letters and not entirely yellow letters.

Of course, these are just examples… but that is the purpose of these tokens at the moment, the way I see it.

No matter what, early investors just got an 11x return on their investment, so I guess they will say thank you to Porto and Binance for that opportunity, no matter what!

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