Fan Tokens Market Cap Increased More Than 60% Since June

The fan tokens market cap increased more than 60% since June and their ecosystems have continuously been growing as we can see all across our crypto news.

The fan tokens across Chilliz and Socios token ecosystems sold for $250 million so far as the founder and CEO said. The Fan tokens market cap has been growing and surged to $157 million in terms of the market cap since June. According to the data from the major fan token website FanMarketCap, the market cap of the fan tokens is estimated to be over $417 million which is an increase of 60% from the overall value of $260 million that was recorded in mid-June 2021. The fan token market’s daily trading volume amounts to $270 million at the time of writing.

According to the FanTokenStats, some of the most valued fan tokens like Paris Saint Germain and Manchester city issued by fan providers Socios and Chiliz while the PSG market cap is valued at slightly over $49 million and the City’s market cap is at $38 million. Binance as the world’s biggest crypto exchange is also a major fan token player and launched its own fan token back in October. Running on Binance’s token launch platform, the Lazio Fan Token is among the biggest tokens with a market cap of $51 million.

Socios and Chiliz founder and CEO Alexandre Dreyfus said that all fan tokens on Chiliz and Socios sold for $250 million and predicted that the market size of the fan tokens and social tokens will reach $10 billion in the next five years. Fan tokens represent digital currencies that provide holders with access to a number of fan-related membership perks like merch designs, club decisions voting, rewards, and other experiences within the sports clubs. Dreyfus noted that the fan tokens are not cryptocurrencies but they are digital assets:

“You cannot spend fan tokens to buy something, you can own fan tokens to get fan benefits. Fans will hold, traders will trade.”

According to the CEO, CoinGecko and CoinMarketCap data providers don’t reflect the initial price of the Socios-issued fan tokens which is about $2 per token. CITY Was priced originally at $2 instead of $10 which was shown in the data on these two sites. CMC and CoinGEcko don’t get fan token offering prices but they only capture the listing price.