Crypto is seeing another wave of adoption.
But this time, it’s from a different group than you’d expect … soccer fans.
You see, a lot of sports teams are now offering crypto fan tokens, which allow holders to vote on team decisions or purchase merchandise.
And a recent development involving the world’s best soccer player, Lionel Messi, has users pouring into these crypto fan tokens in droves.
As part of a contract deal with Paris St-Germain (PSG), Messi will be receiving some of his compensation in the form of the team’s $PSG fan token.
$PSG spiked 165% in under a week when the initial rumors surfaced that Messi would be joining the team.
$PSG Tokens Spike on Messi Rumors
(Source: TradingView.)
Are crypto fan tokens just a fad? Maybe…
But they do have value.
Fan tokens entitle holders to vote on minor club affairs or purchase merchandise. Holders have a say in things like the team’s bus design or the best goal of the season, to name a few.
PSG isn’t the only team with a fan token. Other European teams such as AS Roma, Atletico De Madrid and Manchester City have all jumped on the token bandwagon.
And Socios, the creator of fan tokens, has already offered 35 different tokens … and more are on the way.
Buying the fan token offerings has turned out to be pretty lucrative.
For example, fans who bought into the $PSG offering on January 28, 2020, would currently be sitting on a 1,400% gain.
The market may not always be so generous. Demand for a team’s fan tokens will fluctuate over time.
But if you believe in the value of fan tokens, there’s an investment angle.
Socios is built on the Chiliz blockchain and uses Chiliz (CHZ) as its exclusive currency. Which means that for investors to take part in future fan token offerings, they need to buy CHZ.
And if demand for new fan tokens is high, demand for CHZ will follow, which would spark a rally in its price.
There are a couple of ways to buy it. You can purchase CHZ directly through the Socios app, with a credit or debit card. Or, if this feature isn’t available near you, you can buy the crypto through an exchange such as Coinbase.
But fan tokens are just one example where crypto is in demand for a real world use case…
There are much bigger opportunities in markets where crypto adoption is soaring. (One small example is the generative art world, but the possibilities are endless.)
To learn how to play them, you can join Ian King’s subscribers for his Next Wave Crypto Fortunes service.
Regards,
Research Analyst, Strategic Fortunes