Crypto

Football badge lovers do not know the crisis! But how is it?

Football clubs around the world are already actively using 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 it possible for them to penetrate the music industry in the near future. However, if you are a fan of this type of token, the future may hold some pleasant surprises for you.

Fan Token Prices Continue to Rise

It will not escape anyone that the prices of major cryptocurrencies have been living on a knife edge for some time, and the markets are not happy about it.

If bitcoin (BTC) recently valiantly tried to finally cross the symbolic $25,000 bar, its price has since fallen. However, not all tokens experience this summer idleness. If we look at fan tokens, i.e. those representing sports teams, we can see that they continue to generate enthusiasm. According to reliable data, football team tokens are unsurprisingly showing the highest volumes and growth.

Recently, the most capitalized token is the Santos FC (SANTOS) token, which has increased by 121% in a week. It is followed by the football club Porto (PORTO), the value of which increased by 62% in a week. It is followed by the Lazio Rome (LAZIO) token with +68%. Cryptocurrency PSG and FC Barcelona rounded out the top five with more moderate growth (1.64% and 4.31% respectively). These are almost exclusively football-related cryptocurrencies. But we also note that Binance’s fan token based on Alpine’s F1 team, ALPINE, also posted a clear breakout last week with +23%. Real Madrid are also starting to make people talk about it…

The sector will continue to develop

Today we know that this morning the capitalization of fan tokens registered on the aggregator FanMarketCap reached $421 million. This is still a small part of the total cryptocurrency market capitalization, but it is growing. In one month, it really took almost +100%, which shows that the trend continues for several weeks.

This performance is due to the nature of these tokens, which exist a bit on the fringes of the “classic” cryptocurrency market and reach a wider audience. They play on the football fans’ enthusiasm for their team, which is a good way to create excitement.

Then the explosive growth of the Socios.com platform played its role, as several news stories supported its breakthrough. In early August, it became known that FC Barcelona sold a 25% stake in Barça Studios to Chiliz (CHZ) for 100 million euros. Moreover, the platform has just been approved in Italy, so support tokens probably have a bright future ahead of them.

Given the way things are going, it’s only fitting that Cristiano Ronaldo himself is investing in web3.

Victoria

Passionate about cryptography, NFTs and everything related to the blockchain, I share all my tips with you on my blog! Attention, I am not an expert and what I say should by no means be taken as absolute truth. I am not an investment consultant 🙂

Also find my articles on my LinkedIn account!

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