Fan Token’s market capitalization has increased over 60% since June
According to FanMarketCap data, the market capitalization of all fan tokens (fan tokens) has grown by $ 154 million, or 60.4%, from $ 260 million recorded in mid-June to over $ 417 million now. Meanwhile, Fan Token has a daily trading volume of $ 270.2 million.
Top-rated tokens in the industry include Paris Saint-Germain (PSG) worth over $ 47.2 million and Manchester City (CITY) worth over $ 38 million. All are issued by Socios, a major fan token provider, and are based on Chile’s blockchain infrastructure.
Binance Exchange is also a major player in the industry, launching its own fan token platform worth approximately $ 51 million in October 2021.
Socios and Chiliz Founder and CEO Alexander Dreyfus said that all Fan Tokens in the Socios and Chiliz Fan Token ecosystem have sold for $ 250 million so far. He predicts that the size of the fan token and social token (social token) market will grow to $ 10 billion over the next 5 years.
Fan Token is a form of digital currency that gives holders access to a range of fan-related membership benefits, including club vote voting, merchandising design, and more. , Awards and other interactive fan activities at sports clubs and music fan clubs.
Dreyfus emphasized that Fan Token is not a cryptocurrency, but a digital asset:
“You cannot use Fan Tokens to buy something, you can only own them to receive bonuses.”
Dreyfus continues to point out that Fan Token has different use cases for fans and traders.
“Fans will walk, dealers will act.”
Sources such as CoinMarketCap and CoinGecko do not accurately reflect the initial price of Fan Tokens issued by Socios, which is usually around $ 2 per token, Dreyfus said. As a result, CITY was originally priced at $ 2 instead of $ 10, according to CMC and CoinGecko.
“You can’t see this on CoinMarketCap,” Dreyfus noted, adding that sources such as CoinMarketCap and CoinGecko do not use the asking price for fan tokens, only the list price.
