The world of football and cryptocurrency are becoming increasingly intertwined, and fan tokens are the most recent product of this union. In recent months, a number of clubs in Europe have presented their own digital assets. The phrase “fan token” might not need much of an explanation for those individuals who are currently engaged in the cryptocurrency industry. If, on the other hand, you are among the many football enthusiasts who have only recently begun their trip into the world of digital investment, you will need to educate yourself on these brand-new assets through trading analysis forums like bitcoin smarter or others.
The Trading Origins of Fan Tokens
The cryptocurrency is known as “fan tokens,” and it allows people to bet on the club’s activities. Other perks include exclusive items, promotions, and games for fans. In PSG’s initial poll, supporters could choose the inspirational phrase that would appear on the players’ armbands.
Juventus let supporters choose the music that runs when the team scores a goal, whilst Galatasaray enabled fans to choose a song that plays as the team takes the field. When it comes to Camp Nou’s dressing room, Barcelona is holding a vote that will allow supporters to choose a mural design. Clubs grant a variety of additional voting privileges.
Non-fungible tokens cannot be used to purchase goods or services with these fungible tokens (NFTs).
The art of turning hundreds into thousands is definitely possible via fan tokens. Nonetheless, the greater the demand, the higher the rates will be.
Token holders might profit from a rise in the value of their holdings by reselling them at a higher price. Just as PSG supporters would have if Lionel Messi had stayed at their club.
The Diversity of Fan Tokens
PSG fan tokens have a market cap of $53 million, trailed by Manchester United fan coins with $42 million. Athletico Madrid fan tokens rank third with a market valuation of $33 million, just above FC Barcelona’s $27 million.
Online exchanges sell fans’ favorite teams’ digital tokens. Only huge clubs do this. For smaller-issue fan tokens, employ a decentralized exchange (DEX). Decentralized markets sell fan tokens using cryptocurrency. Trading forums like bitcoin smarter allow the vendor to set the price based on buyers and sellers.
The fan tokens’ blockchain technology can be used in different ways. Benfica accepts cryptocurrency payments for products. Many Series A clubs have contracts with blockchain technologies to produce digital player cards. For fans, the clubs plan to pay personnel in digital tokens when the market matures.
How to Buy Fan Tokens?
Coins can be traded on marketplaces like other cryptocurrencies. Each coin’s supply and demand determine its value.
Most fan tokens use the Chiliz blockchain. AC Milan, Man Utd, Barcelona, and Juventus have coins.
Chiliz fan tokens must be purchased on a crypto market. CHZ and Socios aren’t the only token providers.
Binance launched a fan token platform. Lazio, Porto, and Santos are indeed the top football clubs with Binance coins. To buy BNB, use a crypto exchange.
These platforms have CHZ and BNB:
Binance.com
Coinbase Pro
Huobi Global
Bithumb
KuCoin
Through forums like the bitcoin smarter has also made the trading of fan tokens a hustle-free operation.
The Bottom Line
As of this writing, Social has released over 50 CHZ fan tokens. Manchester City, Barcelona, and Dinamo Zagreb are just a few of the clubs on their roster, which also includes a number of smaller European clubs like Galatasaray.
The launch of fan tokens has allowed fans to connect with their teams on a greater level. In addition to that, trading and investing come with risks that we advise investors to remain cautious of.
Before purchasing fan tokens, you should do your homework and choose your investment purpose, as well as your tolerance for risk.
