Market Cap Of Fan Tokens Surged Upto 60% Since June. The high demand for fan tokens has taken fan tokens to record-breaking sales.
The digital era has brought a big change. That has also affected the ways of fans and brands to connect with celebrities. All Fan Tokens Are Sold For $250 Million Over Socios And Chilis Fan Token Ecosystem
Fan tokens are digital currency that allows the owner to avail many fan-related membership perks. These perks may include, vote on club decisions, merchandise designs, and rewarding other fans’ involvement experiences within sport and music fan clubs.
Market Cap Of Fan Tokens Details:
Since June, the market value of fan tokens has shown rapid growth this year. It reaches around $157million by terms of the total market cap.
Doubtlessly, the market capitalization of all tokens is approximately around $417 million.
Evidentially, the value is more than 60% from the overall value, which was around $260 million recorded in mid-June this year.
At the time of writing, the daily trading volume fan token is $270 million.
High-Value Fan Tokens:
The tokens that marked their name amongst highly valued tokens are Paris Saint Germain (PSG) and Manchester City (CITY), supplied by big token provider socio. Socia is based on Chiliz’s blockchain infrastructure.
However, the PSG fan token market cap is valued at up to $49 million, and the CITY fan token market cap value is $38 million.
CEO And Founder Of Socio And Chiliz:
The founder, Alexander Dreyfus, told Cointelegraph that all the tokens over Socio and Chiliz have sold out for $250 million until now. Further, he anticipated that the market will surge up to $10 billion with fan and social tokens in the upcoming 5 years.
Moreover, he cleared that fan token does not come in cryptocurrency. Rather it comes in digital assets.
You can not spend fan tokens to buy something. You can own fan tokens to get fan benefits.
If you have really enjoyed reading our news. Then you should dare to leave comments and your feedback in the comment sections. And please share our news in your circles to help us grow.
Disclaimer: We are not experts or financial advisors. Kindly, take your decisions at your own risk. As crypto investment contains risk. And our aim is to keep you aware of the current cryptocurrencies, and NFTs headlines.