In football, many of the world’s largest clubs including Barcelona, Atletico Madrid, Manchester City, Paris Saint-Germain, Juventus, Inter, Arsenal, AS Roma, Galatasaray, Flamengo, and Corinthians have released Fan Tokens through Socios.com. Recently, these fan tokens have rapidly increased in value, attracting the attention of many investors to this type of coin. Therefore, in this article, we will delve into what fan tokens are, their potential, and highlight some prominent fan tokens for you to consider so as not to miss this trend.
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What are fan tokens, should you invest in them?
What are fan tokens?
Fan tokens, also known as tokens for fans, are a type of cryptocurrency that provides token holders with many privileges such as: voting on decisions related to the development of the club; receiving rewards; participating in games; shopping for NFT assets… and many other unique experiences.
Fan tokens are often issued for sports clubs, gaming clubs, music groups, or celebrities. Essentially, any entity with a fan community is a candidate for issuing these fan tokens.
Example: You are a fan of Manchester City. This team launches a cryptocurrency for their fans called the Manchester City Fan Token. Then, they distribute this token to everyone. If you are a fan, you can buy and own it.
What are the main features of fan tokens?
Now that you understand what fan tokens are, let’s see what are their main characteristics.
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Fan Tokens, like many other cryptocurrencies, can be traded on famous cryptocurrency exchanges, such as Binance…
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Each fan token targets a specific fan community. However, it does not mean that they are only sold to that fan group; anyone can buy them if they are interested.
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Fan tokens generally do not have any outstanding technology. They are created to strengthen the bond between fans and their favorite clubs.
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Anyone can create a fan token for themselves based on blockchain technology, as long as they have a large enough fan base.
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Fan tokens can easily be exchanged for products or services offered by the businesses or clubs behind them.
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Fan tokens are not necessarily backed by any cryptocurrency like Bitcoin or Ethereum. Their price is usually determined by the number of people who want them or the value they attach to these tokens.
Note: A Fan Token is a digital asset created on a blockchain that grants owners access to services that sports organizations provide to their fans through the Socios.com app.
What is Socios.com?
Since Socios.com is the app for creating fan tokens, when learning about fan tokens, you should know a bit about Socios.
Socios.com is a mobile app, available on iOS and Android, where you can create or buy your fan tokens, vote in polls and participate in a myriad of games, contests, and features to win exclusive prizes.
Socios.com was first launched at the end of 2019. They have partnerships with Juventus, Inter, Paris-Saint Germain, Atlético de Madrid, Galatasaray, AS Roma, FC Barcelona, the Argentina national team, the Portugal national team, Man City, Arsenal, Everton, Leeds, Aston Villa, UEFA, and many other sports organizations.
Socios.com claims over a million fans worldwide are using fan tokens to interact with their favorite clubs. Their long-term vision for Socios.com is to make it a part of the sports landscape, particularly focusing on the relationship with international fans.
What are the privileges of owning a fan token?
What decisions can I vote on?
What can Fan Token owners do?
Imagine in reality, when you idolize someone, you often collect items about your idol. With that perspective, fan token owners will have some benefits like:
- Being able to financially support their idol. In this case, fan tokens will be like shares in a business. By buying and owning such tokens, you are providing a certain amount of financial support for the development of your favorite club/idol.
- Fan tokens are the link that keeps the relationship between the community and the club alive. In some cases, fan token holders even have the right to vote on club decisions: transfers, team lineups…
- Fan tokens help fan communities, not only domestically but also internationally, to easily access their idols or clubs, or exchange for exclusive products characteristic of their favorite idol/club.
In 2021, Socios.com’s partner clubs conducted over 300 surveys through the app, allowing their fans to optionally vote to decide the names of new facilities, club apparel designs, numbers of new signings, celebration songs, and more. Isn’t that a lot of power?
In addition, Socios.com’s partner clubs rewarded over 5,000 fans with gifts such as officially signed merchandise, free tickets, and VIP experiences in 2021. (Example prize: play a match in your favorite team’s stadium and win personalized football memorabilia)
You only need to own a single fan token. However, the more you own, the greater your voting power in making decisions related to the club.
Should you invest in Fan tokens?
In reality, like other types of coins, the price of fan tokens fluctuates according to supply and demand in the market. If the club has a strong community with many participants, it will be a good signal for the price. However, investing in fan tokens also involves certain risks, including:
- Price Manipulation Risk: As fan tokens for fans are still quite new, with a small circulating volume and not widely popular, they are susceptible to price manipulation.
- Unclear Value: Unlike many other coins, many fan tokens are more like symbolic assets, often resembling memorabilia.
So, should you invest in fan tokens? It depends on your perspective, but ask yourself:
– Do you have a favorite club or idol? Do they issue fan tokens?
– Do you want to have a bit of “voice” to help your club grow?
– Do you want the chance for more interaction, rewards, and exclusive products?
If all answers are YES, then you can buy fan tokens – with their primary purpose of strengthening the bond between fans and their favorite clubs.
From an ordinary investment perspective, I find fan tokens quite risky and not suitable for substantial investment.
However, from another perspective, fan tokens are becoming a trend, especially when sports seasons launch, the demand for these coins will probably increase. Moreover, “fans” are a community that can do many great things and have a lot of potential. So if you trust this fan community, you might consider a small investment in these coins, like buying a lottery ticket.
Top fan tokens currently popular
If you understand what fan tokens are and have a favorite club to buy from, that’s great. However, if you are not sure what fan tokens include, let me list some of the most famous fan tokens currently.
Chiliz
Alpine F1 Team Fan Token
Paris Saint-Germain Fan Token
Manchester City Fan Token
Santos FC Fan Token
Lazio Fan Token
Portugal National Team Fan Token
AC Milan Fan Token
FC Barcelona Fan Token
Inter Milan Fan Token
Atletico Madrid Fan Token
Trabzonspor Fan Token
Juventus Fan Token
AS Roma Fan Token
Arsenal Fan Token
UFC Fan TokenAs can be seen, most of the list includes fan tokens of famous football clubs.
The Alpine F1 Team Fan Token is also quite popular and highly ranked, a fan token of a Formula 1 racing club, which is currently attracting the attention of many investors.
But most importantly, the Chilliz (CHZ) coin is currently leading in the list of fan tokens. It does not represent any specific club but is very important because it is linked with the Socios.com app mentioned above. You can buy CHZ coins and use them to purchase fan tokens sold on Socios.com (as not all fan tokens are listed on cryptocurrency exchanges).
This article provides the basic information about what fan tokens are. In summary, fan tokens are a way for fans to express their idolization of their favorite clubs. Additionally, they are considered a currency used within the club. Would you like to buy a fan token? Do you think these coins have potential? Share your thoughts with us. Thank you for reading, and I wish you smart investing.
