NFT EveningNFT Evening

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    NFTs By Lacollection.io x MFA To Feature Degas and Monet Artworks

    June 25, 2022

    Snoop Dogg and Eminem Drop A New Track At Apefest

    June 25, 2022

    Yuga Labs Files Lawsuit Against Ryder Ripps Bored Apes (RRBAYC) NFT

    June 25, 2022
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • Home
    • News
    • Crypto Art
    • Collectibles
    • Blockchain games
    • Interviews
    • Guides
    • NFT Calendar
    • NFT Conferences
    NFT EveningNFT Evening
    Uncategorized

    Football Fan Tokens Are Still Performing In The Bear Market

    By Ross WardropMay 26, 2022Updated:June 5, 20223 Mins Read
    Share
    Twitter WhatsApp Reddit Email Facebook LinkedIn

    Despite an ongoing bear market, football fan tokens are still performing in the ongoing crypto bear market, which has affected a large part of the scene. These tokens have been somewhat criticised by fans of certain football teams, but now they are proving their worth after seeing 200% gains in the last 14 days.

    football fan tokens
    Football fan tokens have seen a massive increase, headed by the industry leader, Socios.

    200% Gains in a Bear Market

    In the past fortnight, amidst the latest crypto crash, football fan tokens have provided investors with some form of profit as many of the trending tokens have seen 200% increases in this period.

    Analysts from TradingPedia studied the market prices and volume recently. Particularly, they looked at the Santos FC Fan Token (SANTOS), which registered over 220% gains. One day last week saw the token have $330 million in volume. It reached a soaring price of over $5 too.

    TradingPedia noted that these tokens did go down as Bitcoin did a couple of weeks ago, but it was the bounceback in the following few days that has seen them get this significant increase. Clearly, this is a similar pattern to other fan tokens.

    To explain the gains, Brian McColl, an analyst at TradingPedia said: “This is actually somewhat expected in such a crash. In this scenario, some investors refrain from closing the positions they hold by selling their cryptocurrency low for fiat.

    This would mean they incur large losses. Rather than that, they would try hard to find an alternative crypto asset, that may be higher-risk but still offers them good returns while the overall crypto market is unstable and trying to consolidate.”

    About Football Fan Tokens

    Fan tokens as a concept are fairly new, and overall, they have been dominated by football teams. Nine out of the top ten spots (based on market cap) for sports fan tokens are football clubs. Eight of those nine are European, with the one other being the Brazillian club, Santos FC. Outside of these nine, the only other in the top ten is the Alpine F1 team. In fact, they lead the table, taking the number one spot.

    To clarify, a fan token is a digital asset created on the blockchain. It grants its owner access to a service that sports organisations provide to their fans through various platforms. The industry leader is Socios.

    Some of Socios’ partners include AC Milan, Arsenal, Manchester City, Barcelona, Inter Milan, and more. You can see a full list here. As well as this, Lionel Messi partnered with the platform. To get the tokens, you buy the Chilliz cryptocurrency and exchange it for a fan token of any of their teams. With these tokens, fans can vote on various club matters.

    The platform has been subject to some criticism from certain “football purists” and other organisations. The Advertising Standards Agency ruled against the way Arsenal advertised their scheme for taking advantage of customer inexperience in managing crypto assets. Beyond this, many fans of partner clubs have opposed Socios. They look at it as another way for clubs to get supporters to spend their money.


    Are you tired of missing important NFT drops?

    Check out our NFT Calendar!

    Receive the biggest NFT news of the day & recommendations in our Daily newsletter. 

    • All of our news is being sent daily on Telegram
    • We summarize the biggest news daily on Twitter & Instagram 
    • Learn with video tutorials and subscribe to our Youtube Channel 

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    bear market fan token football fan token Football NFT football token Socios
    Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
    Ross Wardrop
    • Twitter
    • Instagram

    A multimedia journalist and social media manager based out of Glasgow, Scotland. Massive interest in sports, specifically basketball and football.

    More great NFT Evening content:

    MetaJuice To Launch Integrated NFT Marketplace On IMVU Metaverse

    June 21, 2022 Uncategorized

    First-Ever Scottish Professional Football League NFTs Drop On Topps

    June 12, 2022 News

    Async Art Launches Generative NFT Music Project Music Blueprints

    June 3, 2022 Uncategorized

    Prada To Launch 100 Ethereum NFTs This Week

    May 31, 2022 Uncategorized
    Latests NFT News

    NFTs By Lacollection.io x MFA To Feature Degas and Monet Artworks

    June 25, 2022

    Snoop Dogg and Eminem Drop A New Track At Apefest

    June 25, 2022

    Yuga Labs Files Lawsuit Against Ryder Ripps Bored Apes (RRBAYC) NFT

    June 25, 2022

    Jay Chou x Paris Saint-Germain Tiger Champs NFT: What You Should Know

    June 24, 2022



    • Follow @NFTevening


    By signing up, you agree to the our terms and our Privacy Policy agreement

    NFT evening is the biggest website for NFT news. We are dedicated to supporting mainstream NFT adoption by making content fun & accessible. Learn about NFT collectibles, NFT art and the best blockchain games that even let you earn free crypto! Whether you want to invest in NFTs, create NFTs or simply collect them, NFTevening is the first stop for all the NFT news you need!

    Facebook Twitter Instagram YouTube
    Article Categories
    • Blockchain games
    • Collectibles
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • News
    • Sponsored Content
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Collaboration and Press Releases
    • Job Opportunities
    • About Us
    • Contact Us
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.