Investors in cryptocurrency are increasingly turning to fan tokens. These tokens are an outgrowth of the meme coin trend which saw cryptocurrencies rise positively. Now, they have become a popular trend. While the year 2022 has almost come to an abrupt close, these fan tokens still have many good reasons to be watch.
What are Football Fan Tokens?
The crypto market has taken to the streets football tokens in the past year. The Santos FC Fan Token, and the Manchester City Fan Token have done exceptionally well. They are far beyond expectations. They have seen tremendous growth, and there is still potential upside to these fan tokens.
FIFA World Cup, which is set to take place in 2018, has been a major reason for renewed fan interest in tokens. The FIFA World Cup is considered the largest sports tournament in the world. This competition sees the different national football clubs competing for the title. A large portion of the world’s population also tunes in for the competition.
The FIFA World Cup 2018 held in Russia saw a total of 3.5 billion viewers around the world, and this year’s edition of the competition held in Qatar is expected to draw in an estimated 5 billion viewers. This is an encouraging sign for digital assets, as it shows how many people are tuning in to watch their favourite teams play. They are likely to enjoy a significant upside once the World Cup gets underway in November.
Source: CITYUSD on TradingView.com| Source: CITYUSD on TradingView.com
Already Seeing Upside
Before the FIFA World Cup begins, the upside for football fans tokens is already evident. Coinmarketcap has seen a rise in searches for cryptocurrency over the last 24 hour.
According to Coinmarketcap, digital assets are ranked according to how many searches they have received. The Manchester City Fan Token was the most popular token searched for in the past day. It ranked at the top of this list. The Santos FC fan token (SANTOS), which is also listed in the top 10, was also placed 9th among the most searched cryptocurrencies for the last 24hrs.
The fan tokens also are not performing badly in terms of price. Some tokens even saw double-digit increases in the past day. SANTOS is now up 8.20% while CITY is currently up 9.08%. Over the last 24hrs, FC Porto Fan Token was up by more Ethan 17%. The same goes for the Portugal National Team Fan token.
Featured Image from MARCA chart by TradingView.com
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