The cryptocurrency market has brought forth several segments that, over the years, have either proven their worth or were called scams. However, in recent months, a rising sector is taking the industry by storm: fan tokens.
These crypto tokens are very different from Bitcoin, altcoins, and meme coins, as they serve the main purpose of enhancing the engagement of fans with their favorite sports figures.
Notably, there are also specific fan tokens around entertainment brands and public figures issued on blockchains.
Teams and organizations can launch their coins through Fan Token Offerings (FTOs) on some of the leading sports blockchain platforms such as Socios.com.
What do fan tokens offer?
As noted, fan tokens aren’t like Bitcoin, which is supposed to be a store of value, but nor are they altcoins, which have a specific utility within their blockchain ecosystems, and more importantly, they aren’t like meme coins, which are mostly only used for fun and engagement within crypto communities.
Generally, the big difference is most other crypto coins are used for transactions, while fan tokens provide unique privileges to token holders. This means fan token holders have the upper hand than other fans in terms of engaging with their favorite teams.
If fan tokens are also used for engagement, what sets them apart from meme tokens?
- Club decisions – Fan token holders have the power to vote on important matters within a sports fans club. For instance, they can vote on which jersey designs they prefer or which songs should be used during fan club events.
- Content access – Token holders can also be given special access to behind-the-scenes videos, training sessions among their beloved teams, and other similar “members-only” content.
- Fan community engagement – Token holders also have the chance to connect with other individuals who, like them, are big sports fans. A big plus is, they can interact with key club representatives and even potentially participate in critical discussions.
- Earn rewards – Depending on the number of tokens held, holders can unlock special gifts, including VIP event tickets, and possibly, the chance to meet their favorite players
Top fan tokens these days
Data from onchain analytics platform LunarCrush revealed that on Sunday, sports tokens were up +4.81% and fan tokens were “seeing increasing mindshare.”
Among the fan tokens that gained much attention over the weekend were Chiliz (CHZ), the native token of the sports blockchain Chiliz, the Natus Vincere Fan Token (NAVI), the Alliance Fan Token (ALL), and several other sports-related fan coins.
Other hot fan tokens are the Argentina National Football Team Fan Token (ARG), Juventus Fan Token (JUV), Manchester City Fan Token (CITY), and AC Milan Fan Token (ACM).
Fan tokens have yet to gain as much traction as the memecoin segment, but as early as now, some coins are showing promise, especially since sports remain a major driver of the global economy.
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