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Since June, the market cap of fan token increased by more than 60%.

3 min reading

According to the founder and CEO, all fan tokens traded in Socios and Chiliz's fan token ecosystem have sold for a total of $250 million

This year, the fan token market has evolved in value, with total market capitalization increasing to about $157 million since June.

The market capitalization of all fan tokens is approximated to be somewhat more than $417 million recently, according to data from the main fan token website FanMarketCap. This is over 60.4 % more than the overall value of $260 million recorded in mid-June 2021.

The latest daily trading volume in the fan token market was $270.2 million.

According to FanTokenStats, some of the most valuable fan tokens include those issued by significant fan token provider Socios and based on the Chiliz blockchain technology, such as Paris Saint-Germain (PSG) and Manchester City (CITY). Though PSG has a market valuation of slightly more than $49 million, CITY has a market capitalization of $38 million.

Binance, the world's largest cryptocurrency exchange, has announced that it would launch its fan token platform in October 2021. According to FanTokenStats, the Lazio Fan Token (LAZIO) is one of the largest fan tokens on Binance's token launch platform Binance Launchpad, with a market cap of around $51 million.

Alexandre Dreyfus, the founder and CEO of Socios and Chiliz, told that all fan tokens in the Socios and Chiliz network had sold for $250 million so far. He estimated that the market for fan tokens and social tokens will reach $10 billion in the next five years.

Fan tokens are a type of digital currency that entitles users to a variety of fan-related membership advantages, such as voting on club decisions, product designs, incentives, and other fan interaction experiences within sports and music fan clubs.

“You cannot spend fan tokens to buy something, you can own fan tokens to get fan benefits,” Dreyfus said, highlighting that fan tokens are not cryptocurrencies but instead digital assets. Fans and traders have distinct uses for fan tokens, according to him.  “Fans will hold, traders will trade,” said Dreyfus.

According to the CEO, the initial price of Socios-issued fan tokens, which is normally around $2 per token, is not accurately represented in sources. As a result, according to CMC and CoinGecko, CITY was initially valued at $2 per token rather than $10 per token.

"You can't see it on CoinMarketCap," Dreyfus indicated, noting that platforms like CMC and CoinGecko only record the listing price and not the fan token offering price.  “Fan tokens are first pre-sold at fixed price during a flash sale before being listed,” he said.

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