Fan Token Explodes Ahead Of World Cup 2022

The fan token market cap has grown almost 100% month over month as the momentum built around the sector is gaining traction.

Fan Token Explodes Ahead Of World Cup 2022 3

The fan token segment has grown very strongly in the past week, especially with the excitement of investors ahead of the sporting event that attracts the largest number of viewers worldwide, the 2022 World Cup, which will take place in November in Qatar.

In addition, the fact that today’s leading fan token issuance platform Socios.com has just received regulatory approval to operate in Italy also serves as a significant incentive.

Socios.com founder and CEO Alexandre Dreyfus said that through its legal license to operate in Italy, Socios.com has strengthened confidence in its track record of promoting the fan token sector to fans, due to that, helping a series of projects in this area skyrocket.

The fan token market cap currently stands at over $414 million at press time, an increase of about 97% month-on-month. In addition, the majority of team tokens issued by Socios.com with the native token Chiliz (CHZ) acting as the main currency of the platform grew to two or even three digits in the last 7 days.

The price movement of fan tokens has grown the most as of August 22, 2022. Source: CoinMarketCap

On the other hand, in an effort to stimulate more sports waves from investors during this period, Socios.com is ready to spend up to $100 million to invest in FC Barcelona.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.