What is a fan token?

Could you elaborate on the concept of a fan token? I've heard it mentioned in the cryptocurrency and finance world, but I'm not entirely sure what it entails. Is it a specific type of cryptocurrency designed to represent fandom and loyalty? Or is it more of a reward system for fans? Could you break down how it works, its potential benefits, and any risks associated with investing in fan tokens? I'm curious to understand its role in the broader crypto and finance landscape.