What are fan tokens?
Fan tokens are tools that are used to give experiences and benefits to the community linked to sports teams. Each fan who owns fan tokens will be able to vote, redeem and experience their club. Every day we see more companies providing blockchain services to satisfy their customers and link them to the Metaverse.
It should be noted that fan tokens are crypto assets that give access to exclusive sports club services. During the last year its adoption has been growing. And in the last week, with the proximity of the World Cup, they had higher price increases than the main cryptocurrencies, Bitcoin (BTC) and Ether (ETH).
Football tournaments are among the major sporting events that attract a large number of fans around the world. Before the arrival of the 2022 FIFA World Cup in Qatar, transactions in fan tokens and activities in the football metaverse are growing, despite the fall in financial markets.
FIFA World Cup Qatar 2022 NFT´s
In this context, FIFA is fully immersed in the crypto world, specifically in the NFT category. In a statement, FIFA announced the launch of its first NFT platform, which will revolve around the Qatar 2022 World Cup.
“This exciting announcement makes FIFA collectibles available to any football fan, democratizing the opportunity to own a piece of the FIFA World Cup,” said Romy Gai, FIFA Chief Commercial Officer.
He added: “Like sports memorabilia and stickers, this is an accessible opportunity for fans around the world to engage with their favorite players, moments and more on new platforms.”
The transactions take place on the FIFA+ Collect platform, which allows any football fan to become the owner of a piece of the World Cups, sports fans will be able to buy unique NFTs (Non-Fungible Tokens) from different historical moments of the World Cups, which only they can access.
During the announcement, Romy Gai, mentioned one of the most important points of the project, compared to most NFT platforms and digital collectibles, will be structured so that fans around the world can purchase unique digital items of football’s greatest milestones and rare FIFA World Cup and FIFA Women’s World Cup artwork at affordable prices.
To allow this access to all people, FIFA has partnered with Algorand, a Blockchain platform used by more than 2,000 global companies, governments and decentralized and digital-native financial applications. It is a low-cost, carbon-neutral blockchain technology accessible with multiple currencies and payment methods.
Classic moments in sports as digital assets helped drive NFTs on a massive scale, especially through NBA Top Shot, the platform for basketball collectibles created by Dapper Labs, also the creator of CryptoKitties, the first collection of NFTs to win land on the Ethereum blockchain.
Latin America football NFT´S
In the Latin American region, the AFA is also growing in the crypto world with its fan token. After an agreement between the Argentine Football Association (AFA) and the Socios.com company in 2021, both entities reported that they will work together until 2026. In this way, fan tokens grow in the world of football and the National Team token got raised its price. The market is bullish on this news, and as can be seen on price trackers like CoinMarketCap, the price of the ARG token has increased by up to 30% in the past few days.
Other fan tokens that have increased the most in recent days are those of Peru and Portugal. Each of these grew 22% and 17% respectively. Also, the previous week had similar rises in Brazil and Spain.