From Investing.com: 2024-06-11 02:15:33

As football tournaments in Europe and the Americas approach, fan tokens are gaining traction. Market value of the Chiliz cryptocurrency, which hosts most fan tokens, has surpassed $1.07 billion. Trading volumes reached $170 million in May. Fans can benefit from perks like raffle entries, merchandise discounts, and voting on club decisions.

Despite the rise in fan tokens, their growth remains slow, particularly those linked to club sides. Paris Saint-Germain announced becoming a network validator for Chiliz Chain, while Watford FC offered fans a 10% stake in the club via digital equity tokens. Critics warn of financial speculation risks associated with fan tokens.

Read more at Investing.com: Soccer tokens shine ahead of summer of sport By Reuters