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Top Ten Crypto Fan Tokens
Fan tokens collectively have a market cap of over $232 Million with a 60% surge since June 2022. The largest users of fan tokens are football fans. Football clubs, AC Milan and FC Arsenal made $6 million and $5.5 million respectively from fan tokens.
TL;DR
- Popular sport teams and celebrities are using CryptoFan Tokens to connect with their fans.
- Fan token holders get to decide on certain issues concerning their team by voting based on the number of tokens they hold.
- Unlike NFTs, Fan Tokens are fungible.
- Binance, Chilliz and Socios are the most popular fan token platforms.
What Are Fan Tokens?
Fan Fan tokens are cryptocurrencies created on a blockchain that give holders access to fan-related rights which are not given to all fans in general. These rights include voting on club decisions, getting rewards, special merchandise and invitation to events. Fan tokens are issued by sport clubs, music fan clubs and other organizations to allow the democratization of policies and the arrangement of events. In simple terms, holding a fan token elevates the holder to the rank of a VIP fan.
Fan Tokens Vs NFTs: The Difference.
While the two are largely linked to sports clubs and musicians, they are different. The biggest difference is that Fan tokens are fungible i.e they are exchangeable for services, just like fiat currencies. But NFTs are non-fungible (not exchangeable.) Also, the price of NFTs is dictated by the volatility of the market where both buyers and sellers have the goal to outbid one another. But fan token's prices are determined by the seller and the buyers are mostly die-hard fans who are willing to part with their money for a chance to have a say in the affairs of their club. So, it is a win-win for the seller hoping to make a profit and the fan whose satisfaction is derived from the love of the club. If the club continues to excel, then more fans will be interested in its activities and this in turn leads to increase in price of the fan token.
How Do Fan Tokens Work?
Fan tokens are exchanged for club benefits that are reserved for VIP members.
Also, fan tokens serve as a means of revenue for clubs and artists. Since the tokens are bought and paid for by fans, the benefits the club offers are paid for.
Fan Token Platforms
Despite the popularity of fan tokens, the platforms dealing in their minting and trading are not many. The biggest of them all is:
BINANCE
Crypto exchange giant, Binance, is a key player in the area of fan tokens. New fan tokens are launched on the Binance launchpad and fans can get early access to the newest fan tokens. Tokens already existing can also be bought on the Spot Market. Crypto assets or cash can be used to make the purchase.
By holding Binance Fan Tokens, you are eligible to claim fan rewards and exercise reserved fan rights. The token you hold will determine what kind of benefit you will receive and the offers the club has. Mystery boxes that contain undisclosed prizes and NFTs are one of the benefits.
Fan badges can also be won by engaging with Binance Fan Token. Every single engagement adds to the fan's fan badge which can be redeemed for prizes.
Since Football Fans Tokens take up the bulk of fan tokens , Binance has an index for monitoring how well the tokens are doing in the market. Football Fan Token Index is an index used for tracking Football Fan Tokens prices.
CHILIZ
Chiliz is a sport and entertainment organisation based in Malta. It was founded in 2008 by Alexandre Dreyfus as a unit of Mediatex.
The network makes use of blockchain technology to provide services to the port and entertainment industries. It operates chiliz.net which is the platform's marketplace and Socios, a platform where fans can engage. October 27 reports by CoinMarketCap shows that CHZ which serves as the platform's native crypto is number 40th on the list of best cryptocurrencies in the world.
Designing and minting of tokens that can be offered to fans to buy, trade and collect is the service the platform offers to sporting organisations.
Partnership with sport teams have boosted Chiliz's profile. Clubs like Atlético de Madrid, FC Barcelona, Paris-Saint Germain and Manchester City are all partners of Chiliz and they have fan tokens available for sale on the platform. The UFC and NBA are also partners of Chiliz.
To purchase a fan token, you will have to purchase $CHZ on an exchange, then use it to buy your desired token on Chiliz.
SOCIOS
A subsidiary of Chiliz, Socios is a platform where fans can engage and interact. Socios is an app that rewards fans for loyalty with a goal of upgrading fan's experience. Giving fans merchandise and tokens as gifts is a pointer to Socios' aim to raise the standards for what it means to be a fan. Instead of being just fans for the sake of it, Socios monetizes fans' passion and rewards them. The platform describes itself as the “first of its kind rewards app."
The platform uses Chiliz's CHZ token as the means of exchange while the Socios United Fan Token ($SSU) is used to vote on decisions affecting the platform. Users can partake in Socios Token Hunt to get tokens that can be exchanged for things like autographs, meet and greets and other things.
Socios also allows fans to get NFTs by buying from OpenSea or winning them through games on the app.
Socios' is planning to expand into the gaming sector through a partnership with Wave.
Top Ten Crypto Fan Tokens
As expected from the most popular sport in the world, football clubs dominate the list. The ranking is based on reports from cryptorank.io, a crypto analysis website. The biggest fan tokens by market cap are:
LAZIO FAN TOKEN
S.S Lazio Football club was established back in 1900. The football team's history stretches back over 100 years. This explains how wide its fan base is. A publicly-traded company with a market cap of $66 billion, Lazio is a footballing powerhouse and one of the most successful in the world.
The club's fan token was launched on Binance and offered to the public in October 2021.
The current market cap of $LAZIO is $28.98 million.
ALPINE F1 TEAM TOKEN
Alpine F1 Team also known as BWT Alpine F1 Team is a top Formula One Team. It is owned by Grouper Renault, an auto company in France. Formerly known as Renault F1 Team, the racing car constructor changed the name to Alpine as a way of promoting the company's new car, Alpine. The team debuted at the 2021 Formula One Championship.
Alpine F1 Team fan token gives fans voting rights. It also qualifies them for receival of gifts and special benefits. It has a market cap of $25.62 million.
FC PORTO FAN TOKEN
FC Porto is one of the biggest clubs in Portugal. The club's history extends well over a century. And its fans right from the day it was created have passed the love of the team down to their children over the years. This has turned the love for the team into a heirloom and present fans are willing to support the team not only because they love it but also as a way of keeping their family traditions.
This love manifests in many ways. The $PORTO token's $21.57 million market cap shows how much the club is loved by its fans.
FC SANTOS FAN TOKEN
FC Santos is a big name in the Brazilian league. Arguably the greatest player to ever touch the ball, three-time world cup winner, Pele played for scored 643 goals in 659 official matches for Santos. The phenomenal Neymar Jr was also a Santos player. These players prove that Santos is not a midget in football.
Their fanbase keep on telling the club how much they love it by cheering and also buying its fan tokens. The market cap of $SANTOS is $22.98 million.
PARIS SAINT GERMAINE FAN TOKEN
Paris-based club, PSG are one of the best teams in the world. The team is the most successful in France and one of the most successful in Europe. With a history spanning well over a century, a Qatari-ownership, a vast array of star footballers, and a dedicated fanbase, it is no surprise that the club's fan tokens are doing well. And this is expected to go on because the club is excelling on all fronts.
The $PSG have a market cap of $23.82 million.
FC BARCELONA FAN TOKEN
A five-time Champions League winner, FC Barcelona is a footballing giant. The Spanish team's trophy cabinet is filled with trophies that are a marker of achievements and also the pride of fans. The club has always had sterling players like Ronaldinho, Lionel Messi, Dani Alves—all of whom are respected in the footballing world. This, coupled with the club's phenomenal success both domestically and worldwide, has grown its fanbase.
$BAR gives holders the right to vote in elections—a right reserved for the Socios, a section of fans who help run the club. It also offers the chance to win benefits and experiences. The $BAR market cap sits at $18.78 million.
MANCHESTER CITY FAN TOKEN
Coached by Pep Guardiola and team to Erling Haaland, Man City is arguably the best Premier League team right now. Winning four out of five Premier League titles is no mean feat but the club has achieved just that in the past five years.
The Citizens— as the club's fans are called—are one of the largest fan base in the world. The team's style of play has also won it many fans.
Domestic successes, exciting cup runs and a payroll of some of football's near players have helped the $CITY grow. The token's market cap is $16.89 million.
ARGENTINA FOOTBALL ASSOCIATION FAN TOKEN
For the older generations, Maradona was Argentina's poster boy. For the newer generation the main man is Lionel Messi. All through the years Argentina has always thrilled fans.
The country has won the prestigious world cup and the Copa America. Maradona's famous "Hand of God goal" was scored in an Argentina jersey, the most expensive football memorabilia is an Argentina jersey—with Maradona's name on the back.
The South American giant boasts of star players like Di Maria, Otamendi and Martinez. The country's citizens see support for the team as patriotism. Extending the country's territory, the love for the Argentina football team is shared all over the world.
The $ARG's market cap is $20.32 million.
AC MILAN FAN TOKEN
AC Milan plays in the Italian Seria A. The 123 year old club's pedigree is old and deeprooted in Italian culture. With retired legends like Marco Van Basten and Andriy Shevchenko and current legend Zlatan Ibrahimovic on the club's books, it is clear that AC Milan has always given fans things to be happy about. And the fans have returned the favour by buying the club's fan tokens. With a market cap of $9.6 million, AC Milan's $ACM is one of the top fan tokens in the world
The black-and-white striped jersey is synonymous with the Italian giants. The Old Ladies—as the club and its fan base are called—has achieved tremendous success locally and globally. Founded in 1897, the club is definitely an icon of Italian football.
The signing of Cristiano Ronaldo made the followers on the club's social media platforms skyrocket. This led to an increase in interest in the club's activities. Ronaldo departed but the club's fans have shown that they are die-hards and though they may taunt and tongue lash the players and executives, they will never leave the club—even at gunpoint.
This love is the key reason why the $JUV sits at a market cap total of $9.2 million.
Conclusion
Thn domination of fan tokens by football clubs is a testimony to the fact that the success of the tokens are largely fan-driven. In fact, analysts can use the fan tokens market cap to decide which teams are most loved and least loved. This is because a team's success results in love and the love results in fan tokens.
The music industry is also a part of the fan token system. Some Music artists have millions of fans across various social media platforms and most of these are diehard fans. It is just a matter of time before artists begin competing with football clubs for the top ten list.
As a fan token holder, you are supporting your team—and that is exactly what real fans do.
About Pontem
Pontem Network is a product development studio on Aptos. Pontem is committed to build web3 dApps and grow the adoption within the Aptos ecosystem. Some of its key products include Liquidswap, Aptos' first fully audited DEX and Pontem wallet which is now available for download from the Apple App Store.
For more updates on Pontem, visit their website.
