Could Fan Tokens: be a New Trend in Crypto?

[DegenLite]

I just learned about fan tokens today. I've been learning a lot lately, so I understand that fan tokens are a type of cryptocurrency that lets fans engage with their favorite sports teams, clubs, or organizations in a more immersive way.

 They're often issued on blockchain platforms and provide fans with tokens like CITY and INTER. These tokens help fans feel more connected to their clubs, which led me to explore GAL, the official digital token of Galatasaray, a Turkish football club founded in 1905. By holding GAL tokens, fans can participate in management decisions, making them feel more connected to the club. What do you think about GAL, and do you think more football clubs will adopt this approach?

As a fan of football myself, if my club ever had a fan token like Galatasaray do, I'm pretty sure I will interact with the token one way or the other since it gives you an ability to influence team and club designs and in general a better voice in your club's ecosystem. I definitely like fan tokens like this, I think the GALFAN token is on 3 major exchanges too Bitget, Bybit and OKX

[Strongkored]

By holding GAL tokens, fans can participate in management decisions, making them feel more connected to the club. What do you think about GAL, and do you think more football clubs will adopt this approach?

Being able to participate in management decisions is a lie and whatever is mentioned in the token whitepapers is just to attract lots of investors including fans of the club but don't expect everything to be carried out according to what is written. If you want to be more connected with your favorite club, it's better to watch the matches and also buy any merchandise rather than buying tokens, which of course has the hope of making a profit, but you have to know that there are many projects that are difficult to survive in the crypto world, including fan tokens if there is, the percentage is very small.

[betswift]

In my opinion, with the upcoming Euro 2024, it can be a good trend, but you should check if it's official fan tokens or another meme coin, and be careful, because it can be very volatile!

[trendcoin]

Fan tokens were business ideas with great potential, but none of them realized their potential. Can you imagine buying a fan token and participating in a raffle to go to a training session with Messi? I'm a fan of Ronaldo because he's a real king, I would probably participate in a raffle to go to a foot tennis training session with Ronaldo. :) Anyway, we can multiply the examples, but what I'm trying to say is that it was possible to organize many events with fan tokens, but these tokens didn't do any of that. Fan tokens are stillborn projects for me...

[avikz]

I just learned about fan tokens today. I've been learning a lot lately, so I understand that fan tokens are a type of cryptocurrency that lets fans engage with their favorite sports teams, clubs, or organizations in a more immersive way.

 They're often issued on blockchain platforms and provide fans with tokens like CITY and INTER. These tokens help fans feel more connected to their clubs, which led me to explore GAL, the official digital token of Galatasaray, a Turkish football club founded in 1905. By holding GAL tokens, fans can participate in management decisions, making them feel more connected to the club. What do you think about GAL, and do you think more football clubs will adopt this approach?

This is not new. During the ICO boom, some European football clubs had started similar initiatives but I am not sure whether they exist today or not. Fan tokens are the worst choice for investment. It has a very niche user base and a very limited utility. So they are not trending right now.

If you are thinking of investing into fan tokens, please stop! Fan tokens are usually used by clubs to raise money from their supporters by selling merchandise at a discount price and by providing certain non financial rewards to the holders. Never consider these tokens for investment.

[AbuBhakar]

~

New trend in scamming fans out of their money . Pretty sure they're an old thing though. I think clubs just didn't go through and continue with it since they didn't see any possible profitability in it in the long run especially if you consider how majority of their fans would probably be non-crypto people themselves. Granted as well they can probably just do NFTs instead, or just real life merch which would cost more to make, but would probably generate more profit for them as well.

And let's be real, a coin in my wallet does not make me in no way feel more connected to the teams I support lol.

They are not automatically scam. Actually they are more better than meme coin that doesn’t have real use case.

Fan token main utility is for buying merchandise, tickets and lther materials from the club which they are selling on their website. Also it’s use for voting and other sort that related for the team so you can consider it as some sort of DAO token for the sports club to make fans still involved to the team.

Some of fan token is not that popular anymore since real fan preferred the payment in fiat and watching the game physically rather than purchasing this kind of crypto assets as support to the team.

[Reatim]

In my opinion, with the upcoming Euro 2024, it can be a good trend, but you should check if it's official fan tokens or another meme coin, and be careful, because it can be very volatile!

True. With the recent rise of these fan tokens, scammers have now found another avenue to scam and fool people. Most fans would be pretty excited to purchase a fan token from their favorite team or whatnot which could be capitalized off by scammers.

Make sure that these fan tokens were actually released by your team officially. Just like some tokens where they seem to rep a specific character but in reality that character has nothing to do with it. Like dogecoin with Elon Musk. He is not directly the sole creator of dogecoin but many people seem to think so.

[albon]

Fan token main utility is for buying merchandise, tickets and lther materials from the club which they are selling on their website. Also it’s use for voting and other sort that related for the team so you can consider it as some sort of DAO token for the sports club to make fans still involved to the team.

Some of fan token is not that popular anymore since real fan preferred the payment in fiat and watching the game physically rather than purchasing this kind of crypto assets as support to the team.

Indeed, fan tokens provide advantages for fans, interacting with football club teams, such as those you mentioned, also participating in votes, various opinion polls, and events, meeting their favorite players, and receiving prizes, gifts, free tickets, and the like. These tokens are used by fans club enthusiasts within its ecosystem. It is worth noting that fan tokens are an old trend and one of the trends of altcoins. There are many fan tokens whose holders could extract value from them and benefit from their price movements, which emerged and achieved a good market value during previous years, such as $BAR, ​​$CITY, and others.

Frankly, I am not interested in this sports trend because the success of these utility tokens depends on the team's success and performance in their sporting events and on the popular news and hype that spread about the club whose tokens were invested. Undoubtedly, any failures that the club team may face will closely affect the token's price.

[asriloni]

In my opinion, with the upcoming Euro 2024, it can be a good trend, but you should check if it's official fan tokens or another meme coin, and be careful, because it can be very volatile!

The picture contradicts everything you've said so far. Im not even feeling bullish with fan token at this moment. People have been massively leaving it. The fan tokens saw a massive bearish trend. Euro 2024 is not generating excitement for fan tokens. Fan tokens are quite similar to meme tokens but it has better utility. The chart shows that the fan token has been continuously dumped.

In terms of valuation, fan tokens aren't even on par with meme tokens. The total combined market capitalization for fan tokens is less than $300 million USD.

It's a long way from the total combined valuation of all meme tokens. The era of fan tokens has already passed. It will not experience a significant spike when it is being presented to the public. We can't expect massive bump to happen with fan tokens.

Fan tokens are dying now. People know that if trade meme token is far better than fan token. It's sad fan token is finished.

[FinneysTrueVision]

Fan tokens were a trend during the last bullish cycle. There was many popular teams who partnered with Socios to launch their own token. The process of acquiring these tokens was convoluted and was probably a reason why people lost interest. In order to buy these tokens you first needed to buy Socios’ own Chiliz token and then buy the team’s token. They were also not on a popular blockchain like Ethereum or Solana but on the Chiliz Chain. Socios clearly put their own interests ahead of the fan communities and the result is that these tokens plummeted in value.

[DiMarxist]

I think fan fan tokens should be mainly use in the gambling sites because the way fiat is used to gamble in sports is the way. Though this is the first time I am hearing this Fan tokens. It's like this year will be the year cryptocurrency projects will come to the market massively because we have seen many launched in this year and yet more are still coming. It is not to develop and launch them but the value, and the purpose of creating the project when those things are well spell out then the project can do well.
And I didn't see or hear fan token in the last bull cycle.

[Dunamisx]

Any coin or token could be the talk of the town as long as such is coming to offer in something new for the people to use and got established from, we have recently seen something related in NOTcoin and if other coins and token took the effort as well towards presenting something new to trend on the crypto networks, it will definitely be a blast for a token like Fan to also make trend in its time.

[electronicash]

In my opinion, with the upcoming Euro 2024, it can be a good trend, but you should check if it's official fan tokens or another meme coin, and be careful, because it can be very volatile!

The picture contradicts everything you've said so far. Im not even feeling bullish with fan token at this moment. People have been massively leaving it. The fan tokens saw a massive bearish trend. Euro 2024 is not generating excitement for fan tokens. Fan tokens are quite similar to meme tokens but it has better utility. The chart shows that the fan token has been continuously dumped.

In terms of valuation, fan tokens aren't even on par with meme tokens. The total combined market capitalization for fan tokens is less than $300 million USD.

It's a long way from the total combined valuation of all meme tokens. The era of fan tokens has already passed. It will not experience a significant spike when it is being presented to the public. We can't expect massive bump to happen with fan tokens.

Fan tokens are dying now. People know that if trade meme token is far better than fan token. It's sad fan token is finished.

i don't even know there are fan tokens. only the fans of the particular team will likely invest in them.
i
there are memecoins that sounds like a fan token, a celebrity fan lol Iggy Mother Token which is considered memecoin recently trending makes a lot of buzz in the crypto news sites actually, inviting a lot of users in crypto especially the music fans since this Iggy is a rapper from Australia. funny because she strikes back to Vitalik thinking the transaction fees go directly to Vitalki's wallet address.