The FIFA World Cup Qatar 2022 kicks off on November 21, with 32 national teams competing across 64 matches to determine a winner. Blockchain technology and Web 3 elements, such as interactive games, fan tokens, collectibles, etc., have made this event special. OKX, the second-largest crypto exchange by trading volume, launched its OKX Football Festival, which consists of prize pool money of more than $3 million in tokens, limited edition NFTs, and exclusive experiences. Crypto.com and Algorand officially partnered with FIFA for the World Cup.
The Chiliz/Socios.com platform has collaborated with national teams to issue official fan tokens. Chiliz is a popular cryptocurrency for sports tokenization, fueling the world’s first scalable sports engagement and rewards platform - Chiliz.net. It's also the first sports-based crypto exchange enabling fans to trade customized fan tokens and participate in club-based surveys and pools. Chiliz's clients include Barcelona, Juventus, and Arsenal, while Lionel Messi is its global brand ambassador.
Fan tokens are a new method for fans to connect with their favorite clubs and players. They are digital assets that provide holders access to discounts, promotions, and limited content and grant them voting rights. Fan token holders gain access to rewards and benefits and can win prizes like signed club merchandise.& Fans from all over the world invest in their favorite teams to show their support for them. While fan tokens are still relatively new, they're quickly establishing themselves as the future of the sports economy. Here is our dive deep into Fan Tokens, what they are, and how they work.
So, what are the best fan tokens to invest in 2022? Let's look at the specifics.
Everything You Need to Know About Fan Token
A fan token is a digital asset created using blockchain. It gives holders access to services provided by sports organizations to their supporters through the Socios.com app. Socios is an app that lets fans acquire tokenized voting rights in their favorite clubs and gives them a platform to join and feel like a team. The app allows fans to engage with their teams and provides access to unique rewards.
Socios allows interested teams to issue fan tokens, giving holders the ballot rights to participate in decision-making, opinion polls, and surveys. For example, Arsenal Football Club fans can vote on merchandise designs, in-game banners, etc., through the AFC fan token while receiving rewards and unique experiences.
Hundreds of sports teams worldwide have partnered with Socios.com to create innovative ways to engage their fans.
As the FIFA World Cup Qatar 2022 draws closer, the value of fan tokens associated with national football teams rises.
Reasons Behind the Fan Token Mania
Availability of Funds: The new frenzy is being fueled by the availability of extra capital and the urge to invest. The upcoming World Cup and the related buzz have motivated such investors to enter the meme token sector, resulting in the rise of fan token prices.
Meet and Greet the Teams: Another reason for the popularity of fan tokens is the advantages for token holders. Fans not only gain access to special events but can also interact with their teams, which was previously impossible. In this way, fan tokens provide their holders with a one-of-a-kind opportunity to meet and greet their favorite team's players. This is the fundamental appeal of fan tokens.
Profit from Winning Teams: Fan tokens are an alternative to online betting. It is because tokens representing national teams with a strong likelihood of winning the FIFA World Cup are more likely to gain value than tokens representing competitive teams. As a result, these tokens are becoming increasingly popular among online investors expecting to profit after the finals.
Fast Facts
- Web 3 will play a significant role in increasing the value of sports such as soccer.
- The NFT market has been in a slump. Bridging sports and Web 3 might be a game changer.
- The OKX exchange is the official host and partner of the FIFA World Cup.
- OKX offers a $3 million prize pool to participants.
Fan Tokens Use Cases
Fan tokens are utility tokens issued by sports teams and are available on cryptocurrency exchanges such as Phemex. Typically, the team establishes a price for the token and its value changes based on the market or noteworthy events. For example, if Manchester City wins the Premier League, their token value will most likely increase as well!
If you're a fan token holder, you're in luck! Token holders have several privileges, such as voting rights, special products, and even VIP access to specific events. Typically, you can vote on Tour Bus designs, merchandising designs, or game venues.
Top FIFA World Cup Fan Tokens by Market Capitalization
With the FIFA World Cup 2022 in the corner, fan tokens have spiked in volume. Fans worldwide invest in their favorite teams to demonstrate their unwavering support. So, what are the best-performing fan tokens in terms of live market cap?
1. Portugal National Team Fan Token (POR)
Portugal National Team Fan Token (POR/USDT) is the most popular fan token in 2022. They have ranked #1 in the fan token favorites due to the massive rise in trading volume. This is Portugal's ninth year in the World Cup, with their best finish of third place in 1966.
Check the Portugal National Team Fan Token (POR) live price, 24h trading volume, market cap of $13.3M, etc., on CoinStats, one of the best crypto platforms around.
2. Spain National Football Team Fan Token (SNFT)
The next fan token is the Spain National Fan Token (SNFT/USDT). Spain was the World Champion in 2010 and 2014 and remained a fan favorite. The team is in Group E alongside another great German football squad, and fans are now waiting to see who will do better in their respective group rounds.
SNFT's token price increased by almost 1000% earlier last month. It hit an all-time high of $0.7783 and is now trading at 48.53% of its ATH. Check the SNFT current price, market cap, daily trading volume, etc., on CoinStats.
3. Argentine Football Association Fan Token (ARG)
Argentina, another fan-favorite team, has the third most popular fan token. Argentina has two World Cup titles and finished second in 2014. Lionel Messi, a fan favorite, is now playing for Argentina and has stated that this will be his final year with FIFA. Fans worldwide rushed to invest in their fan tokens to express their overwhelming support and wish for a spectacular result.
The Argentine Football Association Fan Token (ARG) is its official fan token and has increased by over 1000% earlier in August.
4.& Brazil National Football Team Fan Token (BFT)
Brazil National Football Team is one of the world's most popular teams with its Fan Token (BFT/USDT). It's the most successful World Cup team, having won five times in World Cup history and being the only team to have competed in all World Cups. The performance of their token is also nothing short of remarkable.
5. Peruvian National Football Team Fan Token (FPFT)
The Peruvian National Football Team Fan Token (FPFT) ranks fifth in our analysis. Although their hopes to enter the World Cup were halted by Australia, their fan token remained strong.
Closing Thoughts
Fan tokens are relatively new, with only about a hundred different fan tokens available at the moment, among them Santos FC Fan Token, the Brazil National Football team Fan Token, and FC Barcelona. While the tokens don't represent ownership of national teams, they provide holders access to several fan-specific perks. This is a relatively small niche sector within the cryptocurrency market, and most tokens have small market capitalizations.
Fan tokens' value, interest, and popularity are expected to rise in the following months due to the international media's attention to the exciting FIFA World Cup Qatar 2022, which will be played from November 20 to December 18. The national football teams participating in it are seeing the value of& their fan token cryptos rise.
You’re welcome to visit our CoinStats blog to get a broader perspective on decentralized finance and how it seeks to empower people. You can also read other articles, such as What Is DeFi, explore our in-depth buying guides on various cryptocurrencies, such as What Is DeFi Staking, How to Stake MATIC, How to Stake Ethereum, How to Buy Cryptocurrency, and learn more about wallets and exchanges, portfolio trackers, etc.
Investment Advice Disclaimer
This content, including any information contained therein, is provided to you solely for informational purposes and does not constitute a recommendation by CoinStats to buy, sell, or hold any security, financial product, or instrument mentioned in the content, nor does it constitute investment advice, financial advice, trading advice, or any other type of advice.
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