Quick take:
- Fan tokens registered a transaction volume of more than $1 billion over the last seven days, 44.33% higher than the previous period.
- NFTs, on the other hand, fell 16.36% to a transaction volume of $136.7 million.
- Santos FC fan token $SANTOS price increased by nearly 190% in the past seven days according to CryptoSlam data.
Over the past seven days, fan tokens outperformed non-fungible tokens (NFTs) with a whopping transaction volume of $1,076,535,714 compared to $136,712,068.
The emerging segment of the crypto market saw volume increase by 44.33% compared to the previous period, while NFTs fell by 16.36% according to CryptoSlam data.
The rapid rise in the transaction volume appears to have significantly been boosted by leading fan tokens, which saw their prices rise considerably over the same period.
According to CryptoSlam, Santos FC token $SANTOS price rallied nearly 190% over the last seven days. Importantly, the token price rose 129% over the last 24 hours to boost the seven-day rally.
The token also registered a transaction volume of nearly $22 million, which is roughly 7.2% of its cumulative volume since launch. The $SANTOS fan token is the largest in terms of market cap, with a value of just over $63 million.
Lazio fan token $ LAZIO is second on the list with $39.4 million. It currently has an all-time transaction volume of about $85.57 million. It experienced a 30% rise in price over the last 24 hours, which boosted the 7-day gains to 41.84%.
Paris St. Germain, FC Porto, and Manchester City also made the list of top 8 in market value.
AC Milan $ACM, which recently teamed up with Sorare to expand its Web3 strategy also made the list with a market cap of $15.42 million, and a 7-day gain in the price of 21.77%.
On the other hand, FC Barcelona, which sold a 24.5% stake of its audiovisual studio to fan token platform Socios in exchange for a €100 million investment saw its fan token $BAR rise by 25.24% over the same period, pushing its market cap to about $28.55 million.
The only non-football team to join the top performers in terms of market cap is Alpine Formula 1 team $ALPINE, which is valued at $35.49 million.
Fan tokens are used by teams to improve their relationships with their fanbase by allowing fans to gain access to token-gated content and enjoy whitelisting for various future offers NFT drops.
Fan tokens have become the most accessible avenue for football teams around the world to foray into web3.
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