Top Fan Tokens To Watch Out For This World Cup Season
The World Cup, the world’s largest and most-watched sporting event, is back. As thousands gather in Qatar for the quadrennial 2022 FIFA World Cup, millions more watch the set stage from their screens around the world. Expect thrills, expect emotions, and expect surprises from the participating teams, but most importantly, expect fan action!
What Are Fan Tokens?
Fan tokens are crypto assets that give holders exclusive benefits and access to things they love. From having access to the facilities and services of their favourite team, group, or entity. Fan tokens grant access to exclusive events, merchandise, experiences, and voting rights, providing fresh utility to fans in their fields of interest. The concept also provides an added means for both fans and groups to earn in the crypto market.
How Do Fan Tokens Work?
Fan tokens are made possible by tokenization and blockchain technology, the same technologies that enable cryptocurrencies such as Bitcoin and Ethereum, as well as non-fungible tokens or NFTs. Fan tokens, unlike NFTs, can be minted and exchanged for services or products provided by the fan token owners. Furthermore, unlike Ethereum and other networks, fan tokens do not necessarily provide financial solutions, but rather are speculative tokens held for the love of the groups or the possibility of reward and benefit.
After they have been minted and their prices have been set by the token’s creators, fan tokens can be traded on secondary markets. Their price movements and token value, like those of other crypto assets, are influenced by market conditions such as the level of interest, market sentiment, and the forces of demand and supply.
The close-knit community of dedicated fans who are loyal to the group and participate in the community’s activities is one element that separates this class of digital assets. This fealty is usually reflected in the token’s overall value, as well as democratic voting systems that allow fans to participate in and vote on various decisions affecting the club, team, group, or entity.
Chiliz And The Socio.com Fan Token Platform
Chiliz is a leading blockchain fintech provider for sports and entertainment. The company is the pioneer of the fan token concept and is credited with the popularization of the cryptocurrency form. The company has its own blockchain, the Chiliz network, which hosts its native ERC20 utility token, CHZ, as well as Socio.com, which is a platform for fan tokens.
Socios.com is a platform that connects fans and their clubs while also facilitating transactions and fan token activities such as voting. The platform also conducts Fan Token Offerings (FTO), which is an initial sale of tokens to fans at a fixed lower price before the token hits the secondary market.
Fan tokens can be created on networks other than the Chiliz network and the Socios.com platform, and there are other platforms available to connect fans and their objects of interest. Another notable platform that provides fan token services and hosts Alpine F1 Team, S.S. Lazio, FC Porto, and Santos FC is the Binance Fan Token platform, a division of the Binance exchange.
Top Fan Tokens To Look Out For
There are currently about 80 fan tokens in the crypto market with a total market capitalization of $328 million, per data from FanMarketCap. These numbers make it a relatively small sector compared to other sectors like NFT with over $11.3 billion or singular crypto assets like Ethereum with $34.9 billion.
Here are the top fan tokens by market cap that you should know of:
1. S. S. Lazio ($LAZIO)
Taking the lead is the fan token of S. S. Lazio, an Italian football club that holds 2 Serie A titles, and 7 Coppa Italia titles, among other achievements. The Lazio fan token was launched on Binance and is tradable on multiple marketplaces.
As of November 2022, The price of LAZIO is $5.70, with a market capitalization of $37 million.
2. Santos FC ($SANTOS)
The Santos FC fan token is another project that was launched on Binance. The token is owned by Santos FC, a Brazilian football club based in São Paulo. Holders of the Santos token have the right to vote on matters relating to the team and are granted exclusive privileges, such as limited NFTs, rewards, and GameFi access.
SANTOS currently has a market capitalization of $31.1 million and is trading at a token price of $7.28.
3. FC Porto ($PORTO)
FC Porto is a notable Portuguese sports club from Porto. The professional football team plays at the height of Portuguese football, the Primeira Liga. FC Porto launched the Porto token with Binance back in 2021 and has attracted lots of fans since that time.
PORTO fan token’s price, in November 2022, is $4.19 with a market capitalization of $27.6 million.
4. Argentine Football Association ($ARG)
Native to the famous Argentina national football team, the ARG fan token allows fans to influence decisions taken at the Argentine Football Association (AFA) HQ in Buenos Aires. The token attracts official products and exclusive access to VIP experiences. ARG fan token was launched on the Chiliz network and is available on the Socio.com platform.
As of November 2022, the ARG fan token is worth $5.40 and has a market capitalization of $21.8 million.
5. Paris Saint-Germain ($PSG)
The world-class French football club, Paris Saint-Germain also has a fan token that was launched on Socio.com in June of 2022. PSG token provides fans with official merchandise and exclusive fan experiences. As an added utility, token holders can also vote for the cover design of the limited edition FIFA-22 PSG and the design of the Parc des Princes stadium.
As of November 2022, this fan token is trading at $5.61, with a market capitalization of $21.5 million.
Other noteworthy fan tokens topping the chart include:
- Portugal National Team ($POR) fan token
- FC Barcelona ($BAR) fan token
- Alpine F1 Team ($ALPINE) fan token
- Manchester City ($CITY) fan token
- Juventus ($JUV) fan token
From the world of football, sports, and beyond, fans have been the heartbeat and driving force responsible for the fame and influence of any team or entity. Fans are known to devote their time, energy, and resources for the sake of their passion and affection. Through tokenization, cryptocurrency and blockchain technology provide a means to connect groups and fans in a financial benefit system.