Funny I love sports, but have never taken the fan tokens seriously even though we are in a position to benefit as we tend to hear the news before many others do.
When Lionel Messi was released from his contract on Sunday night there was only one real team in the race for his signature being Paris St Germain. Manchester City were out of the running after signing Grealish (100 million) and Chelsea signing Lukaku (97.5 Million) the only other clubs who could be open luring Messi.
The token price on Sunday night was just over $30 and at lunch time today was over $61 Dollars. This is the first time I have seen what signing a player does for a token and is interesting to take note as a future reference.
Most tokens do something with good news like a new exchange listing or a key partnership but this is totally different in many ways. The Barcelona token hasn't done anything and thinking that Messi left them surely the price would react but it is still stuck on $25.
Fans must react differently to normal investors as they are buying the token to back their team and to open up extra rewards such as ticket pricing and special promotions only available to token holders.
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Arsenal launch their token on the 12th and will be following how the price changes after launch. I expect other Premiership teams to follow suit soon afterwards so having the knowledge by studying how this plays out is important as a quick in and out trade.
This is interesting to note for traders who want to make a buck or two as other sporting teams introduce their fan tokens over the coming months and years. Paying attention to the transfer market can actually make you a return depending on who is being signed and if it is seen as a big move or not.
The only other time of making on these tokens seems to be at launch as they sky rocket so fast as the fans want to get their hands on them. At launch this token went from $29 to $44 and then dropped to $23 as the crypto market retreated.
What interests me is how the fans react to the news and is important to store in the memory banks as this will be replicated across all fan tokens in the future.
I think PSG's token will rise to the stars with the signing of Messi.
Maybe the creation of digital currencies will be a new source of revenue for football clubs @cryptoandcoffe.
I don't know what the deal is with the clubs and surely they have to be given a percentage of tokens on launch. They must have some benefit and possibly will add financial value to the club somehow. Still early days and it is interesting to watch how the tokens increase in value. Juventus is around $14 which tells me there is still room to grow if we compare to other team tokens.
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It wasn't really surprising, I expected this considering the fan base of Lionel Messi, now i think the incoming arsenal Fan token would also be worth picking up at cheap if it launches today on Socios app.
Nice one,am also a sports lover that is good of you keep it up.
Does All English Premier League have a token?
This is going to be something worth noting. As a fan of sport and precisely Football
just for the fun of the game, holding a token is good sportsmanship.
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