Top Fan Tokens in 2024: Review
The sports sector has always attracted adventurous investors, and with the advent of cryptocurrencies, it’s become even more appealing. Fan tokens not only allow supporters to back their favorite teams but also to profit from their success.
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We've previously explored fan tokens, highlighting their features and use cases. Given that 2024 is packed with significant sporting events, we found it compelling to rank the potentially most popular tokenized fan tokens.
Disclaimer: This article is not investment advice. Please do your own research before making any investment.
Types of Sports Tokens
Fan tokens can be categorized into several groups:
- General Sports Fan Tokens: ЗCreated to foster a community and enhance fan engagement with sports events. Prominent projects in this domain include Chiliz (CHZ), Socios.com, and Fantom (FTM).
- Team Fan Tokens: Offer exclusive access to deals, voting rights in polls and draws, and chances to win free tickets to club games and events—for example, Manchester City Fan Token (CITY) and Paris Saint-Germain Fan Token (PSG).
- Fan NFTs: Attract collectors of digital sports cards and memorabilia, often resold on fan rarity online markets. Examples include NBA Top Shot and Sorare.
- Betting Tokens: Serve as bets on the outcomes of sports competitions. Example: Augur.
The sports token market is in its developmental phase, with many teams and organizations launching their tokens to draw in fans and secure additional funding, thereby increasing liquidity.
However, it's crucial to remember that fan token prices are influenced by three factors: the team's real successes, news background (new partnerships, sponsorships, etc.), and the token's rarity. This is why price movement technical analysis of these assets is largely ineffective: everything might suggest growth, but then your team sells Messi! The fans grieve, and the token plummets.
Popular Projects
When discussing fan tokens, one must acknowledge their relevance may be short-lived. Very few assets have managed to keep the community's attention for more than three years. Yet, since the market itself isn't very old, drawing hasty conclusions would be premature.
The dependency on team successes makes fan tokens both a risky investment and potentially more valuable.
Here is a concise overview of projects that are currently popular in the market.
Chiliz (CHZ)
Chiliz stands as a leading platform for launching sports tokens, built upon the Chiliz Legacy Chain, an Ethereum Layer 2 solution. Since its introduction in 2018, it has evolved into a fully-fledged ecosystem dedicated to the creation of fan tokens, boasting a user base of over 2 million. The initiative is geared towards introducing interactive services for the sports sector and loyalty program applications.
The Chiliz blockchain supports over 80 fan tokens. Source: chiliz.com
The platform's native token, CHZ, functions as a medium for purchasing fan tokens of various teams. CHZ holders have the privilege of:
- Staking assets for passive earnings;
- Participating in governance votes related to project management;
- Receiving rewards such as game tickets or exclusive merchandise.
The token's price has consistently been around 10 cents. CHZ is available on several leading exchanges, including Binance, OKX, Kraken, and Coinbase.
Manchester City Fan Token (CITY)
Manchester City Fan Token (CITY) represents a digital asset for Manchester City Football Club. CITY is used for ticket purchases, participation in raffles, and access to exclusive offers. Owners of CITY enjoy benefits like:
- Access to discounted Manchester City game tickets;
- Entry into draws for prizes like player jerseys and autographed footballs;
- Discounts at the club's retail outlets.
CITY trades at approximately $3 on platforms such as Bitget, BingX, and Gate.io, and is purchasable through the Socios.com app.
CITY holders receive a unique desktop wallpaper. Source: fantoken.com
The token enjoys steady popularity among football fans as a means to obtain memorabilia associated with Manchester City's iconic players.
The issuance of tokens by notable sports clubs illustrates the CITY token as an exemplary success story. The crypto sector may witness the introduction of an exciting newcomer in this segment by 2024.
NBA Top Shot
NBA Top Shot is a platform for trading NBA digital collectible cards. NBA Top Shot cards are NFTs (non-fungible tokens) stored on the Flow blockchain.
The platform enables users to buy, sell, and exchange tokens to create unique collections of digital items associated with legendary players who have played in the club teams since 1986. Prices for these collectible NFTs start at $1, with rare pieces fetching upwards of $3000.
Rare NBA Top Shot NFTs command high prices. Source: fantoken.com
The platform supports purchases with both fiat and cryptocurrencies (ETH, BTC, BCH, and USDC), with transactions using the blockchain's native currency, FLOW, being the most advantageous.
Augur (REP)
Augur (REP) experiences increased demand for predictive betting during significant sporting events, such as the World Cup or the Euros.
As a decentralized Ethereum oracle, Augur enables limitless betting on outcomes ranging from sports team performances to presidential elections and Bitcoin price fluctuation.
Augur is a decentralized betting market. Source: augur.net
The platform uses smart contracts that execute upon the verification of event outcomes. It relies on its native token, REP, for operational purposes, rewarding participants, and facilitating fee collection.
It trades at around 80 cents on exchanges like BitMart, BingX, Gate.io, and Kraken. However, it's important to note the project seems neglected by its founders, with no updates to its social media channels or project roadmaps post-2022. This situation mirrors the mysterious departure of Satoshi Nakamoto, who left his project in the hands of the community years ago.
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