Fan Token, NFT and Cryptocurrencies: the new frontier of football
FAN TOKEN NFT CRYPTOCURRENCIES - From business, to sport, to fashion, there are many sectors that are investing in the new blockchain technology. All the products around you are exploited, from the Fan Token, to the NFT up to the Cryptocurrencies. They are used to bring younger audiences in particular and to create new revenue opportunities. The tech market is in fact one of those that today generates more revenue for those who know how to exploit it.
Blockchain, Fan Token and NFT
A word we hear more and more often in recent years is Blockchain. Most of the time Fan Token, NFT or Cryptocurrencies are added to this, but do we really know how they work? First we need to figure out what everyone has in common: the blockchain. Literally "chain of blocks" is a computer technology that allows you to uniquely review certain data registers. This operation is carried out without the use of a control centre, but it is still safe. Its applications are many and most used at the moment in the banking, financial and artistic sectors especially as regards authentication and buying and selling of works.
Nfts, for example, are part of the blockchain for the issuance of a certification that attests to their uniqueness and uniqueness. It is a bit like saying that each of them thanks to the chain of blocks gets the signature of its author who thus attests to its veracity and ownership. Thanks to this it is possible for a fan to buy the video of the action of a player becoming its owner. But the experience goes further. With Fan Tokens for example fans can actively participate in the company’s decisions about players and team.
There are various sectors that are investing in the world of tech, among them the most active is football, which examines every aspect.
How the cheese seeks revenue from tech
For the realization of NFT and Fan Token companies act in two ways, or rely on companies such as Sorare or operate alone giving life to their projects such as the cases of Juventus and Fiorentina, for example. Or you can have a mix of the two as in the case of the Paris Saint Germain that made $PSG Fan Tokens, the coin that the PSG created with Socios.com in 2020.
Interested in these technologies and new sources of revenue are also the federations such as the League Serie A that created with Crypto.com 7 NFT depicting some important aspects of the 2021 Italian Cup final. There are also cases of individual players such as Andrea Ranocchia who put on the market "NFT IM SHIELD" his collection in limited edition.
If we are not talking about numbers and economic return, we do not understand why we are so interested. The Fan Token in 2021 (No. b. year not yet concluded) brought $150 million into the coffers of Socios.com, the company that produces Fan Token that collaborates with most of the clubs.
Sorare instead put on sale an NFT by Cristiano Ronaldo that generated revenues of 252,800 euros. While the Spanish Football Federation has put on sale Fan Token for a total of 12.5 million euros, purchased by each individual fan for a price of 0.50 cents.
New revenue with Fan Token and NFT
To date many clubs are in crisis as they fail to have enough entry to cover the huge expenses. This link between football, Fan Token and NFT is growing and allows companies, foundations and companies to generate very profitable revenues, also attracting a young and diverse audience.
