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Galatasaray is a fan token representing a professional football club in Istanbul. GALFT is the native token of Galatasaray.
Galatasaray uses fan voting and rewards app Socios.com to launch their fan tokens, offering voting rights and other fan-oriented services. Sports fans can purchase GALFT tokens using the digital currency of the Chiliz (CHZ) Socios.com platform. In addition, the club also held a Fan Token Issuance Event (FTO), giving fans an equal opportunity to buy GALFT tokens at an initial price.
GALFT token holders can express their opinions to Galatasaray through binding and non-binding voting. Through binding and non-binding voting, GALFT token holders can express their opinions and influence the decisions of the Galatasaray club.
While clubs must follow the final decision by fans to vote in a binding vote, they are not obliged to satisfy the general opinion of fans in an unbinding vote. Having more tokens will have a more significant impact on the voting results. Additionally, the club has limited the number of GALFT tokens fans 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 fans' participation in sports outside of football.