Fans of Borussia Dortmund (BVB) were already wondering what exactly this cryptocurrency is supposed to be good for when the project was announced. The functions of the BVB fan token have not yet been precisely defined. Much of it is related to the fan app. In doing so, the soccer club wants to do some things differently than other clubs.
Resistance to the BVB fan token
Borussia Dortmund announced the launch of its own token in December 2020. This would have made BVB the first German football club with its own cryptocurrency. But the trial phase met with resistance from fans. In particular, the influential ultra group “The Unity” railed strongly against the possible influence of the cryptocurrency.
Lack of fan culture and profit maximization
One letter spoke of “profit maximization” and “lack of fan culture,” among other things. “The added value of a blockchain for the interactions circumscribed to date is not readily apparent,” wrote the fan organization schwatzgelb on its website. And further: “In the process, anyone who believes that a token system backed by money could be maintained in the long term with decisions around the golden nothing would have to be naive.” According to football club tradition at BVB, it is primarily the members of the fan club who have a special position. They can participate in the general meeting and are given a vote and a say, as well as preferential treatment when tickets are allocated. Many club supporters feared that the new fan token could divide the community. And the team’s fortunes could pass into alien hands.
Rethinking after criticism
After the fierce opposition, Borussia Dortmund rowed back and implemented the concept in a different way. The idea of offering the token for sale was dropped. Today, the situation of the fan token is as follows:
- Fans can “earn” the Borussia token by using the fan app and receiving tokens in return.
- The token cannot be sold; it has neither a price nor a trading volume.
- Those who have already bought the BVB fan token will have to deal with Liquidteam, a blockchain startup from Braunschweig.
- According to BVB’s information page, it is not even a cryptocurrency anymore, even though they still use blockchain technology.
At the same time, anyone who believes that a token system backed by money could be sustained in the long run with decisions made around the golden nothing would have to be naive.Fan organization Schwatzgelb on the fan’s own website.
The fan token app from Borussia Dortmund
Liquidi-Team and SPORTFIVE are responsible for the development of the BVB fan token. This includes the ecosystem and the fan app. They are working on new ways to connect fans worldwide with their favorite club and interact with them in new ways. The fan token app plays an important role in this. To access the token, users need to download the app and sign up. Fans use the token for various functions within the community in the app.
How do I obtain the BVB Fan Token?
There are only a few steps necessary to earn the BVB FanToken. All you need is a smartphone and a fan ID with Borussia Dortmund.
- Step 1: Download the BVB fan app on your smartphone.
- Step 2: Log in with the FanI-D and then click Register.
- Step 3: After creating the account, you will receive a confirmation code via SMS.
- Step 4: Then authorize the app and confirm the email.
After that, you will be redirected to the Fan ID website. There you can access the BVB fan token app. Then you should also already receive the first Fan Tokens. When you register, when you log in for the first time of the day, and through further interaction with the app and the community, you will be credited with tokens. Instead of buying the token, it can be “earned” by fans interacting with the community and the app’s features. User engagement and activity are important. Not only does the app reward active users, but creators of fan creations can also earn the BVB Fan Token. To do so, they have to publish their creations on the app. In the end, this creates an entire ecosystem.
The Boost: a Like for comments
Boosting on the BVB Fan app is comparable to liking on Twitter or other social media. With a “boost”, you show the community that you like a comment or the fan content. With this, you push the content or post and highlight it in particular. This allows you to influence the order in which posts appear in the app. Boosting allows you to highlight valuable, funny, and apt content. The respective content creators also get the chance to earn more tokens through boosting. These end up in the so-called team cash box.
The team cash box: this is where the BVB tokens end up
The “team cash box” is not really available to Borussia Dortmunds team. Instead, this is where all tokens end up after you use them on the app. Once you’ve used a fan token, for example to boost a comment, it’s transferred to the team coffers. Here the tokens stay until the team treasury distributes them to active members again. This happens at regular intervals. Distributions are made every week, every month or at the end of a season. As a fan, you receive tokens depending on how active you have been within these periods. The quality of your contributions is also important. The community alone decides how good your content was.
Voting by BVB fans via the blockchain
Furthermore, BVB fan tokens can be used for voting. This is where blockchain technology comes into play. All voting takes place on the Blockchain. The blockchain stores every vote. This makes it possible to transparently track who voted for what. The votes cannot be manipulated and are safe from hackers’ access, fraud and forgery. As a fan need to “freeze” the token to participate in elections. There are several types of voting:
- Variable Token Voting
- Fixed token votes
- Tokenholder Votings
- Community Votings
What is Variable Token Voting?
In a Variable Token Voting you can freely choose the number of Fan Tokens you want to use for a vote. Every single fan token counts as one vote. So if you own more of them, you can influence the result significantly. In addition, each option can be selected multiple times: So you can spread your vote over several options. Active users have a clear advantage here. Because whoever owns more BVB fan tokens also has a higher weight in voting.
What are fixed token votes?
In a Fixed Token Voting, the number of BVB Fan Tokens that you can cast for a vote is predetermined. You can only vote once per voting. This voting method is more suitable for serious voting, because every member has the same possibilities of influence.
What are tokenholder votes?
In a tokenholder voting, the number of cryptocurrencies does not matter. Anyone who currently holds BVB fan tokens can participate in the voting. As a fan, you do not have to spend them, it is enough to own them.
What are community votes?
Every user of the BVB fan app can participate in a community vote, regardless of how many and whether they hold Fan Tokens at all. Even users without cryptocurrencies can access the voting.
The role of international fans
Fan Tokens are of particular interest to clubs with international followings. They offer a way to retain fans outside of their own country. Finally, bureaucratic and language hurdles play far less of a role with cryptocurrencies. Especially for fans outside of German-speaking countries, cryptocurrencies and the app are a good way to interact with the club and other fans.
What is the price of the BVB Fan Token?It is officially no longer possible to buy the token. Borussia Dortmund has stopped trading the cryptocurrency. It can only be "earned" with the fan app and spent on the various functions. Therefore, there is also no price. It can also not be used to make purchases in stores of the club. This is in contrast to other fan cryptos of this kind, such as in Formal 1. You also cannot buy and resell the BVB token on an exchange - not even via the app. It is unclear whether this will change in the future.
FAQ – Frequently asked questions
The BVB fan token allows you to participate in voting on the app. You can use it to reward comment writers. Namely, by “boosting” comments and content, i.e. making them more visible. The use of the cryptocurrency is limited to the app, there are no other uses outside of the app.
As a fan have no way to buy the token at the moment. Borussia Dortmund has stopped selling it and removed the cryptocurrency from sales platforms. The only way to “earn” it is to download the app. By using the app and participating in the community, you earn BVB fan tokens.
Holders of the BVB fan token do not receive any additional rights or privileges. The functions within the app and the permissions of the registered fans are clearly separated. None of the feautures within the app have any influence on the gameplay or affect other votes.