Who is the best ? Fan tokens ? crypto for the sports ?
An existential question is bothering me ! for you what are the 5 best soccer teams ! Please answer in comments.
And other question what do you think of the salary paid to the player in crypto money ? its a good ideas ?
Fan tokens: cryptocurrencies designed for the sports world?
Designed to stimulate fan engagement and better monetize their fervor, fan tokens are becoming increasingly popular in the sports world. It must be said that everyone wins: the clubs benefit from new revenues, and the fans participate in the life of their team(s). However, we must not overshadow the risks they pose in the absence of clear regulations. Let's take a look at this innovative tool that could redefine the relationship between sports entities and their fans.
fan tokens bring clubs and fans together
If some people are still wondering what the innovations brought by blockchain and cryptocurrencies can be used for, fan tokens are a great proof of their usefulness. Comparable to some types of social tokens, they allow to strengthen the links between sports teams and their most fervent supporters.
This invention is the brainchild of Socios.com, a company that has already forged partnerships with the world's top teams in a dozen sports. It is the company that issued the very first fan token in history, that of Juventus of Turin in December 2019.
Since its creation, the model invented by Socios.com has proven itself, and competitors are beginning to emerge. The total capitalization of the sixty or so existing fan tokens represented nearly half a billion dollars in April 2022.
What is a fan token?
Naturally, the company Socios.com came up with the term fan token, which is now used generically. And as the name suggests, it is a digital token designed for fans.
In concrete terms, fan tokens offer their holders the possibility to vote for secondary decisions concerning their team (electing the player of the month for example). They also provide access to unforgettable rewards and experiences from the world's top sports clubs.
Like any token, the fan token is fungible and exchangeable for other cryptocurrencies. And while Socios.com has chosen to issue its fan tokens on the Ethereum blockchain, new players in this market have opted for in-house solutions. For example, the Binance platform relies on its own blockchain (the BNB Chain) to issue its fan tokens, as does Bitci.com.
Currently, soccer is the most represented sport by far in the 60 or so existing fan tokens. But other disciplines are planning to take advantage of this new financial windfall. At the time of writing, these include motor sports, basketball, MMA, eSports, tennis, ice hockey, American soccer and cricket. But it is likely that this list will grow with the democratization of fan tokens.
For the moment, fan tokens are focused on the fields of sports and eSports. But in the coming years, they could very well conquer new worlds, such as music or fashion.
Artists or influencers could follow the example of soccer player Keisuke Honda, who has created his own fan token. Issued on the Rally.io platform, the KSK Honda Coin offers its community the opportunity to access exclusive content about him.