These Fan Tokens Are Outperforming Markets

FIFA World Cup: One of the biggest sporting events, the FIFA World Cup, is just around the corner. And this has led to a massive surge in the price of fan tokens for soccer teams.

Fan tokens are cryptocurrencies that allow users to have access to a range of fan-related membership benefits, such as voting rights, rewards, merchandise designs, tickets, and unique experiences. Sports clubs, music fan clubs, and other groups can use them to democratise and coordinate experiences, among other things. Unlike NFTs, fan tokens are totally “fungible” or interchangeable.

Fan tokens are rekindling the gloomy sentiments in the crypto markets. Let’s have a look at the top fan tokens.

Argentine Football Association Fan Token (ARG)

ARG is the official fan token for Argentina’s football team, and it has a strong following behind it. Built on the Chiliz platform, the token has evolved to become one of the biggest fan tokens, with a market value of $31 million. Since celebrity player Lionel Messi plays for this side, the token has profited from Messi and Ronaldo’s rivalry, driving both tokens higher as each community strives to outdo the other.

According to CoinMarketCap, the price of ARG has rallied from $6.2 to $8.3 in the last 7 days.

Portugal National Team Fan Token (POR)

The price of the fan token of the Portugal National Football Team (POR), which is also developed on the Chiliz platform, has grown dramatically in recent weeks. Cristiano Ronaldo, the national and international football hero of Portugal, has sparked enthusiasm from football fans all around the world. POR already has a market capitalization of $24 million.

The price of POR has surged from $4.2 to $6.1 in the past 7 days, according to CoinMarketCap.

Spain National Football Team Fan Token (SNFT)

The Spanish national team is well-known for its ferocity on the field. The Spain National Fan Token (SNFT) has followed suit. Built on the Bitci platform, the token has seen rapid growth, now trading at $0.51. The fan token presently has a market capitalization of $12 million, making it a low-cap treasure and a potential star of the 2022 World Cup.

According to the data from CoinMarketCap, SNFT has rallied from $0.3 to $0.5 in just a span of 7 days.

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Dhirendra is a writer, producer, and journalist who has worked in the media industry for more than 3 years. A technology enthusiast, a curious person who loves to research and know about things. When he is not working, you can find him reading and understanding the world through the lens of the Internet. Contact him at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.