Fenerbahçe Token Partners With Avalanche Network

Cryptocurrencies continue to become more and more common around the world. This causes countless people and institutions to invest in these currencies, which are seen as the ‘technology of the future’. As such, the giant sports clubs is trying to keep up with this rapidly spreading situation and is taking steps regarding cryptocurrencies.

One of the biggest sports clubs in Turkey Fenerbahce are among these teams. The club had a socks sponsorship agreement with the cryptocurrency FLOKI in the past months. In addition to this, the yellow-dark blue club attracted great attention from the fans in the previous months. Fenerbahce Token (FB) had put it on the market. Now, there has been a development regarding this token.

Fenerbahçe Token moved to Avalanche network

Fenerbahçe Token, which broke a record with its pre-sales and is currently traded at around 42 TL, according to the statements made on the official website of the club, we know from the popular AVAX crypto currency within the scope of the studies. Avalanche can be used in the network. The yellow-dark blue team used the following statements in their statements regarding this, stating that it was transferred to the network via a blockchain bridge built;

“Fenerbahce Token, an ERC-20 token, was migrated to the Avalanche network, an independent network, as of March 1. The FB Tokens, which are also transferred to the Avalanche network via the built blockchain bridge, are destroyed on the Ethereum network and delivered to the buyer as an equivalent asset on the other side of the bridge.

In the continuation of the explanations, it was stated that 100 thousand tokens are in the Avalanche network; “Symbolically passed through the blockchain bridge, which is the first official step of new projects and cooperation to be produced in the Avalanche network. 100,000 units Fenerbahçe Token is currently on the network. These moved tokens were destroyed by burning on the Ethereum network.”

In addition, the club stated that Fenerbahçe Sports Club Digital Transformation Team also attended the Avalanche Summit held in Barcelona, ​​where the leading names of the crypto money and blockchain industry took part. According to the statements, the team representing the club at the summit is the company behind the network. Avalabs held meetings with officials, investors and developers.

Fenerbahçe Token may soon be listed on other exchanges

Finally, Fenerbahçe added that new steps will be taken regarding Fenerbahçe Token, which is currently traded from Paribu. In the announcement, the cryptocurrency local and global, centralized and decentralized stock market listings have been announced.