The Most Successful Sports (Fan) Tokens of 2024 and Their Prospects
The crypto industry has something for every person, no doubt. There are thousands of cryptocurrencies fulfilling different roles, targeted at different people, from investors to sports fans. Yes, that’s right, sports fans. A new type of digital asset, Fan Token, has emerged to provide sports fans exclusive membership benefits in sports leagues and teams. Fans can be more engaged with their favorite sports teams through fan tokens.
Currently, fan tokens are more commonly used by soccer teams. However, the phenomenon is quickly expanding to other sports like basketball and car racing. Sports clubs use fan tokens to create unique fan experiences. Fan token holders can purchase officially signed merchandise, get free tickets, and benefit from VIP experiences. More importantly, they can vote on some sports clubs’ decisions via polls. Moreover, holders can use their fan tokens to earn rewards.
With so many benefits for sports fans, it was expected for fan tokens to become very popular last year. So, in this article, we review the most successful fan tokens of 2022 and discuss their projections in the coming years.
Paris Saint-Germain Fan Token (PSG)
The PSG fan token is likely the most popular in the market. This digital asset represents the world-famous soccer club Paris Saint-Germain. Its popularity stems from various perks, including VIP experiences, official merchandise, voting power, and more. This token is minted on the Ethereum platform, making it compatible with the ERC-20 standard.
As of February 28, 2023, the PSG fan token traded at around $6.2. Like any other digital token, you can trade PSG on crypto exchanges. The PSG token reached its all-time high on August 10, 2021, at $61.2. Although the PSG price significantly dropped in 2022, it maintained an acceptable level in the year's first half. This token closed 2022 trading at around $5.4. However, PSG has shown signs of recovery in the first two months of 2023.
Santos FC Fan Token (SANTOS)
Brazil is almost a synonym for soccer. Santos FC is one of the most famous soccer teams in that South American country. The SANTOS fan token represents this club headquartered in Vila Belmiro. SANTOS is a BEP-20 token minted on the Binance Smart Chain. It was launched in November 2021.
The SANTOS token reached its all-time high on December 1, 2021, at $28.6. Although the SANTOS price was around $3.5 at the beginning of 2022, it climbed to nearly $20 in late September. It is a fantastic price hike, considering the brutal crypto winter of last year. As of February 28, 2023, SANTOS traded at around $5.3.
AC Milan Fan Token (ACM)
The ACM fan token represents the AC Milan soccer team in the crypto world. The ACM price reached its all-time high on February 24, 2021, at $24.8. Although 2022 was not the best year for ACM, it exhibited a price spike at the beginning of April, reaching over $9. As of February 28, 2023, the ACM fan token traded at around $2.8. Most importantly, ACM is one of the fan tokens with the most significant potential to grow in the coming years.
FC Barcelona Fan Token (BAR)
The BAR token represents FC Barcelona, one of the most followed soccer clubs worldwide. BAR holders can vote on various decisions concerning their favorite soccer team, such as the match day playlists. Token holders can enjoy VIP access on match day and earn fan rewards. The BAR token is minted on the Ethereum blockchain.
The BAR token was launched in June 2020, which makes it one of the oldest fan tokens in the market. The best year for BAR was 2021 when it reached its all-time high of $79.3 on April 21. Unfortunately, during the crypto winter of 2022, the BAR price plummeted. However, this fan token is on this list despite its poor performance last year because of its considerable recovery potential, thanks to its enormous popularity.
Alpine F1 Fan Token (ALPINE)
The Alpine F1 fan token (ALPINE) is the first F1-themed BEP-20 token. It was launched in February 2022 on Binance Launchpad. ALPINE holders can participate in team voting polls, hunt digital collectibles, and purchase NFTs. Also, ALPINE holders can meet the F1 team members and purchase merchandise signed by the team members.
ALPINE was successful in 2022 as it reached its all-time high price on March 12 at $11.5. Although this token’s price dropped later that year, it has shown recovery potential in the first two months of 2023. As of February 28, 2023, ALPINE traded at $3.1. Several experts think ALPINE is one of the most promising fan tokens in the market.
The Bottom Line
Fan tokens can disrupt the sports industry by changing the way fans interact with their favorite sports teams. Fan tokens allow fans to actively engage in some decision-making processes within their sports team. This way, fans can go from being passive spectators to active participants.
From an investment perspective, many fan tokens created big expectations at the beginning of 2022. However, the crypto winter was brutal, and just a few fan tokens were successful regarding price performance. However, you should not be discouraged. After all, the best fan token to buy is the one representing your favorite sports team.
If you want to support your favorite sports team, buying fan tokens is a new way to do it. Most fan tokens are minted on the Chiliz blockchain. However, you must first buy the CHZ cryptocurrency through an exchange to be able to purchase fan tokens on the Chiliz network. Alternatively, you can get fan tokens directly from a crypto exchange listing them. LetsExchange.io lists several popular fan tokens you can get at competitive rates.