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As the market continues to grow, there have been some exciting developments in the world of cryptocurrency. One of these is the introduction of fan tokens. As the name suggests, a fan token is a cryptocurrency that offers various privileges to its holders and provides an opportunity for fans to interact with their favorite sports teams.
For some fan tokens, holders can vote in club decisions or have ownership in a specific asset related to the sports team. Other advantages include random rewards, free products, and sometimes exclusive access to unique experiences. As the market continues to grow, investors may wonder if these fan tokens are worth considering for their portfolios. Let’s take a closer look.
FC Barcelona Fan Token (BAR)
FC Barcelona, a Spain-based club, launched BAR in collaboration with Chiliz (CHZ), a sports-based blockchain project, in 2020. Built on the Chiliz blockchain, BAR offers fans and holders the opportunity to vote in surveys and have VIP access to club matches.
BAR uses a Proof-of-Authority (PoA) sidechain to provide holders access to these advantages. Additionally, the token has a market value of $26.68 million and a maximum supply of 40 million coins. In terms of price movement, BAR has not shown poor performance lately.
According to CoinMarketCap, BAR was priced at $2.55 at the time of writing, representing a 3.27% increase in the past seven days. However, it has lost 62.40% of its value in the last 365 days. While this may seem like an opportunity to accumulate at a discounted price, investors should exercise caution.
For example, Barcelona did not have a great financial year, which could contribute to the token’s performance. Additionally, if the club replicates or improves its performance from the previous season, BAR may experience an increase in adoption, positively affecting its price.
The State of Alpine F1 Team (ALPINE)
In second place on the list is ALPINE, the first Formula 1 (F1) token developed by Binance. The world’s largest exchange created ALPINE as a fan token for French car manufacturer Alpine Cars and the Alpine F1 team.
The primary use case of the token is for holders to participate in Binance voting sessions. Additionally, owning ALPINE provides fans with the opportunity to stake NFTs, receive signed merchandise, and meet Alpine F1 drivers. As it is created by Binance, ALPINE is a BEP-20 token and operates on the BNB chain.
At the time of writing, ALPINE had a market value of $21.72 million and a circulating supply of 11.36 million tokens. In terms of price, ALPINE had a relatively good performance with a price of $1.91. However, its performance in the past year has been similar to BAR, losing 55.51% of its value. Alpine received its share of success by winning an F1 tournament.
However, there has been no shortage of chaos in the team’s management recently. Therefore, investors may need to pay attention to whether there are any visible solutions. If progress is made in resolving the issue, it may be considered that ALPINE’s value is low, and it may be worth considering buying.
Manchester City Fan Token (CITY)
It is no surprise that Manchester City Fan Token is on this list. The club, known as one of the most successful teams in recent years, has not seen its success reflected in its token. According to CoinMarketCap, CITY’s value decreased by 86.13%.
However, at the time of writing, there was something impressive about CITY token. The 24-hour trading volume had increased by 123%, reaching $3.88 million. This increase in volume indicates a high level of interest in the token and impressive trading activity. This increase in trading activity is something investors may want to consider. If CITY maintains an impressive trading volume, it could be a good token to buy and hold for a while.
Similar to the Barcelona token, CITY is built on the Chiliz blockchain and offers similar advantages to its holders. At the time of writing, CITY had a market value of $20.21 million and a circulating supply of 3.5 million tokens.
S.S Lazio Fan Token (LAZIO)
LAZIO Fan Token is similar to ALPINE as it is developed by Binance and launched on the Launchpad exchange. Like other fan tokens, LAZIO also offers its holders the right to vote and access rewards that ordinary fans do not have. As expected, LAZIO does not operate on the Chiliz blockchain.
Instead, it is created as a token on the BNB Chain. At the time of writing, LAZIO had a market value of $17.27 million. In the past 90 days, LAZIO has experienced a 15.36% decrease in value.
However, considering the significant drop from its All-Time High (ATH), the token may be considered undervalued. Therefore, investors interested in buying LAZIO may want to pay attention to developments surrounding the club.
Paris Saint-Germain Fan Token (PSG)
Rounding off this list is PSG Fan Token. PSG has been France’s most successful club for the past decade. Therefore, it is not surprising that the Socios.com team developed a token in its honor. PSG token is supported by the Chiliz blockchain.
Interestingly, PSG has a similar sensitivity to CITY. In fact, its 24-hour trading volume has increased by 915%. Additionally, the increase in volume positively influenced the price, which has risen by 6.11% in the past 24 hours.
The increase in trading volume indicates that market participants have their eyes on PSG. Therefore, others on the sidelines may consider evaluating PSG as a token for potential long-term gains.
In conclusion, there may be other fan tokens with great potential. Additionally, these top five tokens with the highest market value may continue to be significant in the coming years.
