Top Fan Token Coins by Market Cap
The Fan Token market cap today is $259 Million, a -1.9% change in the last 24 hours. Read More about Fan Token
Fan tokens let sporting organizations and other celebrities engage with their communities, where holders can access exclusive benefits.
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What are Fan Tokens?
Fan tokens are used by sports teams and other celebrities to engage with their communities. They are managed on the blockchain, and their worth is decided by the support of their fans. These tokens can grant holders access to exclusive behind-the-scenes experiences, or a vote in deciding their team’s merchandise. The above perks help to keep fans engaged, while letting organizations monetize their fan bases.
How Do Fan Tokens Work?
Fan tokens act as a license to vote in polls published by the club. All votes cast are registered on the blockchain, which ensures the transparency of results. Besides giving token holders a say in their chosen team’s decisions, they may also gain access to special collectibles offered by the token issuing platform, such as game-scored balls.
Unlike traditional fan clubs which require an ongoing membership fee, buying fan tokens is a once-off affair, as even holding just one token is enough for fans to access the benefits like voting, raffles, fan events and more. However, as each token is equal to one vote, the more tokens you hold, the more your vote counts.
Utility of Fan Tokens
Fan tokens lack the underlying value principles of traditional cryptocurrencies which are usually decided by the protocol’s use cases, whether that’s as a decentralized exchange or a Layer 2 solution. This makes them highly speculative in price, where their value may increase and fall drastically before and after sporting events. Instead of viewing fan tokens as an investment, they are better treated as an alternative to fan clubs, where holding them grants exclusive access to the sports team.