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Booming issue of fan tokens by football clubs

Booming issue of fan tokens by football clubs

In December 2020, PSG tokens were traded on the Binance exchange. The starting price was around $13, but it soared to $35.25 in the first 24 hours. 

In the last two years, famous football clubs such as Manchester City, Barcelona, Roma, Milan, Inter, Atlético Madrid, Valencia, Juventus, Aston Villa, and others have issued fan tokens. Many of them collaborate with the Socios platform, on whose blockchain the team fan tokens are issued.

Due to falling attendance at stadiums and the decline in ticket income that has been acutely felt throughout the coronavirus pandemic, clubs have been looking for alternative ways to make money. The launch of fan cryptocurrency is one of them. As it turned out, such a move was quite successful, as club fans and many traders started to actively buy such tokens, hoping for an increase in their value in the future.

Recently, Dynamo Kyiv, Ukraine's football giants, announced that they plan to issue NFT tickets in cooperation with Moonwalk, an American company. The tickets are planned to be sold on the Binance NFT marketplace.

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