Fan tokens are making their mark,
and they've been drawing in new users to the world of cryptocurrency.
Ronaldo made history
by becoming the first player to be rewarded with digital token.
Manchester City became the first Premier League club to launch a fan token,
and just recently Binance launched a sport fan token with Lazio Football.
If you don't have fan tokens on your radar, here's what you need to know.
And if you have been following them,
we need to check out how they're branching into NFT and esports.
Welcome to the fan token Deep Dive.
first, let's take a step back.
For those that aren't yet familiar, fan tokens are cryptocurrencies
that allow holders to vote on mostly minor decisions related to their clubs,
club decisions, rewards and also unique experiences.
They can be used by any sport, club, music fan club or any other organization
to really help provide an inclusive community experience.
Unlike active fan, tokens are completely fungible and interchangeable,
and the tokens can be exchanged for sport club merchandise.
VIP experiences and so much more.
That's also not all.
In 2020, fan tokens pretty much surge
due to the popularity and a big factor with global lockdowns.
Sporting teams couldn't sell tickets, and this was a great way
to keep their global community engaged and interactive.
Each token received its work from how much fans value being able
to participate in the club and also add unique benefits.
Chili's is generally responsible for the birth of a new form of cryptocurrencies.
The fan token once fans reach Celsius dot com platform club partners
that host a fan token offering also known as an actor,
which is where the prizes of the fan token are fixed and made available to the fans
before they reach the marketplace.
The chillis token is the first and the most prominent fan token
that has prompted
an explosion of new tokens like Manchester City, Ubuntu and AC Milan,
and they've also worked very hard around the clock to secure some industry fare.
So You US was the first club to launch a fan token all the way back in 2018,
and then we saw AC Milan be the first club
to launch NFT with fan token creators Cherry and Point,
as was the first EA Sports team to launch a fan token on Celsius.
And as I mentioned earlier, Renaldo was the first player to be rewarded
with digital tokens for his on pitch performance and record breaking scale.
Now, when it comes to UFC and also NBA, and they've also got involved
expanding into the US sports sector.
So today it's been pretty clear the fan token sector
has been dominated by Celsius and the chillis token.
The Chase PSG token experienced a major price gain as it grew
by 300% at one point to reach a new all time high of $61.
And that huge gain happened because one of the greatest players
in the world, Massie, actually moved from Barcelona to PSG,
a transfer that shocked the entire world of football,
but very recently at Lazio has also entered the scene.
Unlike other fan tokens, Lazio works as a governance token.
It offers the holders the liberty to actually vote on these club decisions
and gain access to exclusive rewards and benefits,
many of which will be announced after the token launch in mid-October.
And as you guys with fond tokens,
they all are very with unique features, so let's see what they offer.
So holders of Lazio Token will be eligible to vote on club decisions,
get exclusive club with discounts and maybe in the future.
Also have a say on player transfers
and other key decisions that make or break a football club.
Lazio fan tokens initial price was set at $1, but it's not.
An ordinary football club, is based in Rome and has a really strong history,
with three Serie A title wins to its name.
So many were expecting some pretty great things,
and the token has already surged to $11 per coin.
Now it does seem like fan tokens are this really crucial merger between
mainstream entertainment sectors and token adoption
bridging that gap that we haven't really seen before
with talks of the new metaverse and more digital era.
Just how big are expectations for fan tokens in 2022?
Well, with Alexander Draven, CEO of Chillis and Starfield himself,
and here is what he had to say.
The way we approach it, for example, because we really
like what Soraya is doing or dapper is doing,
but we try to evolve to compete with these guys. For this reason.
So the way we approached it is NFT is the one we don't.
A few days ago with AC Milan is we are in word,
so we, with the word fun, took in order.
So AC Milan token holders of NFT is
out of the match and especially live during the match.
So you watch the match and suddenly the NFT is minted.
And if you own the fan token at that time, then you get potentially NFT.
And the idea is that
if you own all the NFTs of the season that you got lucky to get all,
you traded them and you managed to buy something,
then you're going to be invited in our VIP box in Milan or in any other city.
So we see NFT as utility NFT.
Maybe it's a new thing.
What's fascinating for the last three years and a half?
You know, we fought effort literally myself, meeting
most of the big teams and then from the top to the bottom and.
Most of the guys, three years and a half ago,
they were there for the money, they literally took the money
that the hell are we going to make a deal with you?
It's the cash, and that's great. No, they were here for the vision
and I can see I had a conversation last week with with the club again
where I was. Of course, I'm a little bit bullied and that's my role in the company.
But my end goal was it's not any more.
If you believe in it or not, it's happening.
The question for you as a club or a sports property or an entertainment company is
how do you embrace it? And when do you embrace it?
Because the earlier you embrace it, the more time you have to educate
yourself, your partners, your media and your customers.
And it's happening to you.
You can fight for it. You can hate it. But it is happening.
So there you have it.
But I want to turn to you all and ask you,
what do you think of the future of fan tokens?
Have you purchased any already and what ones are you looking out for?
And if you do have any more questions about the wild world of crypto,
I can always ask Alex in the description box below.