The Fascinating Way Fan Tokens Brought Sports Closer to the Crypto World

Cryptocurrencies are gradually working their way into many different aspects of our daily lives, one of which is our love for sports.

With billions of sports fans worldwide, this presents an excellent opportunity for clubs or players to make a profit while simultaneously rewarding fans with something in return with the help of fan tokens.

For example, Neymar Jr. plans to launch his own series of Neymar NFTs that will reward NFT holders with special perks. On the other hand, AC Milan is investing in a blockchain-based game where players can manage their own teams and players that come in the form of NFTs.

However, whether it’s for profit or fun, fan tokens are an excellent way for sports clubs to tie the knot between sports and the crypto world and provide sports fans with an awesome new way to support their favorite club.

What Exactly Are Fan Tokens?

The easiest way to explain fan tokens is to think of them as digital VIP passes or digital proof that you are a part of the club’s most enthusiastic supporters.

By owning a fan token, sports fans can gain access to exclusive meet-and-greet events with the players, watch games from VIP areas, and visit clubs’ locker rooms. Not only that, but token owners can even participate in polls and have a say in how the club they are supporting is spending its funds.

In some cases, you could even use a fan token as an alternative to online betting currency. Granted, while there is already a ton of crypto casinos around where you can use Bitcoin for sports betting, a fan token can simply add another option for anyone looking to wager on their favorite club.

The good news is that fan tokens work just like every other token. In other words, you can buy and trade them on a number of different exchanges. Furthermore, you can even re-sell them for a profit if the value goes up.

The Demand for Fan Tokens Is on the Rise

The majority of fan tokens were created by Chiliz, which is a global blockchain provider for the sports industry. The tokens are then sold via Socios.com, a fan-engagement and rewards platform—sports fans buy tokens and earn rewards from the platform, while clubs or players earn a portion from every token sale.

Fan tokens are available in a number of different sports, with football tokens being the most popular ones, especially now with the FIFA World Cup right around the corner. In fact, while the value of coins like Bitcoin and Ethereum has remained mostly flat, football fan tokens are soaring in price.

For example, the Argentinian $ARG Fan Token increased by 10.76% in price, rising to $5.19, while the Spain National Fan Token (SNFT) is up by 1.91%. On the other hand, Brazil National Team Fan Token (BFT) is up by 2.57% and reached $1.01 in value.

An important thing to remember is that fan tokens will most certainly increase or decrease in value, as is the case with every other coin on the market. The demand for fan tokens might drop after the World Cup and then increase again right after a major event. At the same time, it can also be affected by the team’s performance, roster changes, and much more.

However, despite the fluctuations in their price, the demand for fan tokens is on the rise, and they are only growing in popularity.

The Wrap Up

Fan tokens are a game-changer for billions of sports fans around the world. By owning a fan token, players can directly support their favorite club or a player and even get rewards in return for doing so. Sounds great, doesn’t it? We certainly think so!

The best part about fan tokens is that they are a relatively new concept—there is a sea of new and undiscovered ways sports clubs can use fan tokens to reward the most loyal fans, guaranteeing a bright future for fan tokens.

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