T

he most valuable NFTs among sports clubs are those minted by Manchester City (UK). As of 24 March 2022, they had a combined value that exceeded 50 million dollars. This is because many people around the world seek out these unique digital assets for their investment portfolios. The top football club owners also hold substantial amounts in fan tokens, with market caps over 334M USD altogether.

Fan tokens are a new form of digital currency that has been gaining popularity lately. They function similarly to how Bitcoin operates, but with some key differences - instead of giving you ownership over an asset like gold or silver (the traditional practice in cryptocurrency), fan badges give loyal followers certain perks at your favorite sports team's games such as voting rights for match day, music choices, and stadium decorations.

These "shares" can be thought about in a similar way shares work; however they do not actually grant any kind of control over the club itself- this means their value rests primarily on demand from buyers who want these features.

Fan tokens have been issued by teams representing a variety of sports, including football, motor racing, and, predictably, eSports. The majority of these tokens are managed by a company called Socios. Only football clubs have shown any significant traction so far.

The value of these tokens had declined significantly since their all-time high in the autumn of 2021, when it reached $76.19 million for one Paris Saint Germain token on open marketplaces worldwide.

Posted 
Aug 11, 2022
 in 
Digital Lifestyle
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