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Fan Token’s market capitalization has increased over 60% since June

Follow data by FanMarketCap, the market capitalization of all fan tokens (fan tokens) rose by $ 154 million, or 60.4%, from $ 260 million recorded in mid-June to currently over $ 417 million. Meanwhile, the daily trading volume of Fan Token is $ 270.2 million.

Follow FanTokenStatsThe top rated tokens in the industry include Paris Saint-Germain (PSG) valued at over $ 47.2 million and Manchester City (CITY) valued at over $ 38 million. They are all issued by the big fan token provider Socios and are based on the Chiliz blockchain infrastructure.

Binance Exchange is also a major player in the industry, launching its own fan token platform worth around $ 51 million in October 2021.

Socios and Chiliz founder and CEO Alexandre Dreyfus said that all of the fan tokens on the Socios and Chiliz fan token ecosystem have so far sold for $ 250 million. He predicts that the market size of fan tokens and social tokens (social tokens) will grow to $ 10 billion in the next 5 years.

Fan Token is a form of digital currency that gives holders access to a number of fan-related membership benefits, including voting on club decisions, merchandising design, and more. , Rewards, and other interactive fan experiences in sports clubs and music fan clubs.

Dreyfus emphasized that Fan Token is not a cryptocurrency, but a digital asset:

“You can’t use fan tokens to buy something, you can only own them to get fan benefits.”

Dreyfus still notes that Fan Token has different use cases for fans and traders.

“Fans will hodln, dealers will act.”

According to Dreyfus, sources like CoinMarketCap and CoinGecko don’t accurately reflect the starting price of fan tokens issued by Socios, which is typically around $ 2 per token. As a result, according to CMC and CoinGecko, CITY was initially valued at $ 2 instead of $ 10.

“You can’t see it on CoinMarketCap,” noted Dreyfus, adding that sources like CoinMarketCap and CoinGecko don’t use the asking price for fan tokens, just the list price.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.