Football clubs around the world are already on the hype bandwagon for fan tokens. The most dedicated fans of FC Barcelona, AC Milan, Arsenal, Paris Saint-Germain and Juventus already have access. The influence that tokens are gaining makes them likely to enter the music industry in the near future. However, if you are a fan of this type of token, the future may hold some nice surprises for you.
Fan token prices continue to climb
It will have escaped no one that the prices of the major cryptocurrencies have been living on a knife edge for some time now, and the markets are not very enthusiastic about it.
If the bitcoin (BTC) had valiantly tried to definitively cross the symbolic bar of 25,000 dollars recently, its price has since fallen. However, not all tokens experience this summer idleness. If we look at fan tokens, that is to say those representing sports teams, we see that they continue to generate enthusiasm. According to hard data, soccer team tokens are unsurprisingly showing the highest volumes and growth.
Recently, the most capitalized token is that of Santos FC (SANTOS), which posted an increase of +121% over the week. It is closely followed by FC Porto (PORTO), which saw its price soar by +62% over the week. It is followed by the Lazio Rome token (LAZIO), with +68%. The cryptocurrency of PSG and that of FC Barcelona close the top 5, with more measured gains (1.64% and 4.31% respectively). These are almost exclusively football-related cryptocurrencies. But we also note that the Binance fan token based on F1 team Alpine, ALPINE, also saw a clear breakthrough last week with +23%. Real Madrid is also starting to make people talk about it…
A sector will continue to evolve
Today, we know that the capitalization of fan tokens listed on the FanMarketCap aggregator reached $421 million this morning. It is still a small part of the total cryptocurrency market capitalization, but it is growing. Over one month, it has indeed taken nearly +100%, which shows that the trend extends over several weeks.
This performance is explained by the nature of these tokens, which exist slightly on the fringes of the “classic” cryptocurrency market, and reach a wider audience. They play on the enthusiasm of football fans for their team, a good way to generate excitement.
Then, the meteoric rise of the Socios.com platform has its role to play as several news have supported its breakthrough. At the beginning of August, we learned that FC Barcelona had sold 25% of the shares of Barça Studios to Chiliz (CHZ) for 100 million euros. Moreover, the platform has just been approved in Italy, so supporter tokens probably still have a bright future ahead of them.
Given how things are going, it’s only fitting that Cristiano Ronaldo himself invests in web3.
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