2024-8-16 02:00 |
Several fan tokens are expected to draw attention starting Friday and throughout the weekend as football enthusiasts gear up for the Premier League 24/25 season.
The integration of blockchain technology and cryptocurrency has revolutionized how fans engage with their favorite teams. Fan tokens now boast a combined market capitalization of up to $276 million, highlighting their growing influence in the sports world.
Fan Tokens Primed for Volatility on Premier League BuzzSummer saw football players engage in international tournaments with weeks of pre-season preparations. The Premier League kicks off on Friday, August 16, with fixtures already announced. Amid the excitement, several fan tokens could experience increased volatility as interest surges among fans and investors alike.
Arsenal Fan Token (AFC)AFC is the ticker for the Arsenal Football Club, which finished last season much stronger than they started. The team won 16 of their 18 league games in 2024, which marked their highest win rate across a calendar year in their league history.
This record of accomplishment makes AFC a token to watch as the Premier League starts. Arsenal will go against Wolverhampton Wanderers on August 17.
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Manchester City Fan Token (CITY)Crypto and football enthusiasts will also keep a close eye on CITY, the fan token for Manchester City Football Club. As a consistent top performer, the team’s upcoming match against Chelsea on August 18 is expected to drive interest and activity surrounding the token.
Tottenham Hotspur Fan Token (SPURS)SPURS is the fan token of Tottenham Hotspur, which was on a hot streak at the start of the 23/24 Premier League season. The club has a history as a formidable contender, which could inspire volatility for SPURS this season.
Floki (FLOKI)Although FLOKI is not a fan token, the meme coin is likely to experience increased volatility following its recent partnership with Nottingham Forest. Nottingham faces Bournemouth on August 17, a matchup that could trigger fluctuations in the FLOKI token as interest builds around the event.
“Floki becomes the official cryptocurrency partner of Nottingham Forest in the Premier League 2024/2025 season,” Floki Inu announced.
Other cryptocurrencies to watch include AVL, CPFC, and EFC, the fan tokens for Aston Villa, Crystal Palace, and Everton FC respectively. Based on data on CoinGecko, CITY and AFC feature among the top 10 fan tokens by market capitalization metrics. The largest is the Paris Saint-Germain fan token, PSG, outside the Premier League.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
Fan token perks can include voting rights on club decisions, input on merchandise designs, and exclusive rewards. Additionally, some tokens provide opportunities to win once-in-a-lifetime experiences with their favorite teams.
Top Fan Tokens by Market Cap. Source: CoinGeckoHowever, concerns persist regarding the promotion of crypto assets in professional sports. Critics argue that fan tokens and similar offerings could lead to financial harm for supporters and tarnish club reputations. In response, a UK committee has called for stricter regulations on promoting such assets, including NFTs, due to risks like fraud and price volatility.
The post Top Fan Tokens to Watch as Premier League Kicks Off appeared first on BeInCrypto.
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