Football fans spent over $ 350 million buying tokens from their favorite clubs

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Football clubs have received hundreds of millions of dollars in the sale of their “fan tokens”. Football club token sales have reached $ 350 million, according to BBC News.

Some clubs give their token holders additional benefits. For example, token holders can choose songs to be played in stadiums. But, as analysts note, most of the clubs hardly support their fans who have bought tokens.

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To date, 24 clubs from the top five European football leagues have launched their fan tokens. Of these, 8 clubs are in the Premier League. Most of the tokens circulate freely on the market and anyone can buy them. In addition, some clubs issue a series of collectible tokens.

Most of the fan tokens are issued on the Socios platform – it provides the issuance and sale of tokens. They are also presented on other platforms, including Binance and Bitci. According to BBC News, football club tokens were sold through the Socios platform in the amount of $ 270 million to $ 300 million. What is the share of the clubs themselves from these sales is not yet clear.

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Interestingly, the rate of most tokens fell below the initial price. However, some clubs’ tokens continue to grow. For example, the tokens of the Italian club “Inter” and the Turkish “Trabzonspor” in percentage terms soared more than the bitcoin rate over the past year. But the token of the club “Lazio” collapsed by 70% according to the results of the first day.

“Fan tokens are traded more actively than one would expect from this type of token. They are extremely volatile due to the small number of users, ”says David Canellis, top manager of the Protos platform.

As a reminder, the trading platform NFT Sorare recently released tokens for players from all 16 clubs of the Russian Premier League.

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