Currently, the cryptocurrency market of sports entities has a value of more than 500 million dollars, according to data from the specialized website Fan Token Rank.
According to Alexandre Dreyfus, CEO of Socios.com, the commercial brand of the HX Entertainment company, which has created most of these digital assets, the market will reach 10 billion dollars in a few years.
Socios.com has signed contracts to create the fan tokens 37 sports organizations, among which are European football teams such as Paris Saint-Germain, Atlético de Madrid or FC Barcelona; national teams such as Argentina and Portugal; Formula 1 teams like Alfa Romeo and Aston Martin, and even esports clubs like Heretics and Allianz.
Although Socios.com is the company of fan tokens better known, there are also others. One of them is Bitci, the Turkish crypto bank that has created the cryptocurrency of the Spanish soccer team (SNFT) and those of other clubs in the Spanish League.
This class of digital assets is a source of income for Socios.com and for the associated clubs, since the fan tokens they are marketed together and each organization takes a percentage of the sales.
According to Almudena de la Mata, managing partner of Blockchain Intelligence, fan tokens They are further evidence that crypto assets are imposed as an investment medium with very varied underlying values.
“The value of this digital asset class lies in the ability to participate in club activity and access special benefits. Thus, they experiment with new digital forms of citizen participation that could be transferred to other spheres of shared decision such as schools, neighborhoods and associations ”, explains De la Mata.
It will be necessary, he warns, to closely monitor everything related to consumer protection, since “the powerful effect of marketing that supposes the implication of idols like Messi in the diffusion of these ‘tokens’ can lead to thoughtless investments, but with important financial implications “.