Sports fan tokens, most of which are related to European football clubs, have experienced increased activity this month.
According to TheBlock, which compiles data from CoinGecko, the aggregate market cap of the top fan tokens has ascended to the highest level in over a year, reaching a total of $184 million on April 11.
The tracked fan tokens include PSG (Paris Saint Germain), ACM (AC Milan), ASR (AS Roma), BAR (FC Barcelona), ATM (Atletico Madrid), INTER (Inter Milan), JUV (Juventus), and NAP (Napoli). All of them leverage the Chiliz network, a layer 1 blockchain that powers the Socios.com platform through which sports fans can interact with their favorite football clubs.
The market cap of the PSG token, which is the largest one among fan tokens, is currently at $42.02 million, the highest level since April 2022.
Nevertheless, the fan token of AS Roma has been the best performer over the last 12 months, with its valuation increasing from less than $7 million in April 2023 to over $23.4 million at the time of writing.
The great performance of the fan tokens of PSG and AS Roma can be explained by the recent success of these clubs in Europe.
French club PSG has secured its place in the semifinals of the Champions League – the most important competition for European football clubs. It is the major favorite to overcome German club Borussia Dortmund and reach the final for the second time in its history.
Elsewhere, AS Roma will play in the semifinals of the Europa League, the second-most important European contest for football clubs. It will face another German club, Bayer Leverkusen, which has made history this year by recording the longest unbeaten streak across Europe’s top five football leagues. Roma has the chance to break Bayer’s record this Thursday.
Fan tokens enable holders to vote on certain events and proposals related to their favorite club and access unique experiences.
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