Fan tokens of football teams traded on the cryptocurrency exchange BitMart outperformed the overall crypto market in February. The ongoing championship fight and Champions League matches in Europe have increased the interest of both individual investors and institutions in such digital assets.
Strong Increase in Manchester City Fan Token
$CITY, the digital asset issued for fans of Manchester City, has increased by 29 percent since February 6. The value of the token increased from $0.490 to $0.634 during this period. The fact that the team reached the last 16 rounds of the Champions League and reduced the point difference with the league leader Arsenal to four was effective in this exit.
Latest Situation on Other Major Team Tokens
$ACM, the fan token of Milan, one of Italy’s well-established football clubs, increased by 18.9 percent, reaching $0.459 from $0.386. Milan’s 23-game unbeaten run in Serie A has bolstered investor confidence. The $PSG issued for the Paris Saint-Germain team also increased by 16.9 percent and rose from $0.618 to $0.723. PSG’s success in the Champions League on weekdays was decisive in this rise. Barcelona fan token $BAR increased by 11.4 percent, rising from $0.438 to $0.488. However, the team’s decline in the league and cup kept the token’s performance more limited.
Slow Growth in Brazilian Fan Tokens
More moderate increases were observed in newly listed tokens for Brazilian football clubs. Palmeiras’ fan token $VERDAO gained 3.4 percent in February, reaching approximately $0.033. It seems that the club’s good start in the Brazilian Serie A has created optimism among investors. Vasco da Gama fan token $VASCO was traded at approximately $0.03, with an increase of 4.8 percent. The expectation that the team, which had a slow start to the season, would increase its performance was effective in this increase.
In the interest of football-oriented crypto assets, it is noteworthy that the developments in the sports success of the clubs can be reflected in the token prices in a short time. Particularly the activity in Europe’s major leagues and international tournaments has accelerated the fan token market.
Finally, DeFi Planet, which operates in the field of decentralized finance (DeFi), agreed on a two-year sponsorship with the U12 youth team of the London-based Eagles & Stars FC club. This youth team competes in the South East London & Kent (SELKENT) Youth Football League and the club aims to contribute to the development of local football.
Recent activity in the fan token market; It indicates that the interaction between the crypto ecosystem and the sports world is strengthening. It is observed that club successes are directly reflected in both token prices and investor interest.
