Fan Tokens Rally as Investors Bet on Soccer Fever

As excitement builds for the upcoming Euro 2024 and Copa América tournaments, fan tokens are becoming a focal point in the cryptoverse as reported by Reuters, a crypto news source. These digital assets, issued by national teams and clubs, offer supporters a tradeable way to engage with their favorite teams. Recent data reveals a significant […]

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Fan Tokens Rally as Investors Bet on Soccer Fever

  • Fan tokens linked to soccer teams are seeing increased trading activity ahead of Euro 2024 and Copa América.
  • The Chiliz cryptocurrency market value has risen to over $1.07 billion, nearing levels last seen during the 2022 World Cup.
  • Despite the uptick in fan token activity, the sector faces scrutiny over balancing team engagement and financial speculation.

As excitement builds for the upcoming Euro 2024 and Copa América tournaments, fan tokens are becoming a focal point in the cryptoverse as reported by Reuters, a crypto news source. These digital assets, issued by national teams and clubs, offer supporters a tradeable way to engage with their favorite teams. Recent data reveals a significant increase in activity around these tokens, reflecting growing interest ahead of these major soccer events.

Chiliz, the native cryptocurrency of the Socios blockchain that hosts many fan tokens, has seen its market value climb from $687 million at the start of the year to over $1.07 billion. This surge brings it close to levels last observed during the 2022 World Cup, according to CoinGecko. Additionally, fan token trading volumes have also increased, reaching over $170 …

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