Fan tokens are becoming increasingly popular among cryptocurrency investors. They are an offshoot of the meme coin trend that saw various cryptocurrencies rally positively and now, these fan tokens have begun a trend of their own. The year 2022 is almost at its end but there are still good reasons why these fan tokens are a good thing to keep an eye on.
Why Football Fan Tokens?
Football fan tokens have taken the crypto market by storm over the past year. Coins like the Manchester City Fan Token and the Santos FC Fan Token have performed tremendously well, exceeding all expectations. But even though they have already grown so much, there may be more upside for these fan tokens.
One of the major reasons behind the renewed interest in fan tokens is the upcoming FIFA World Cup. This is argued by some to be the biggest sports competition in the world where the official football clubs of different countries compete for the title. A large portion of the world’s population also tunes in for the competition.
The FIFA World Cup 2018 held in Russia saw a total of 3.5 billion viewers around the world, and this year’s edition of the competition held in Qatar is expected to draw in an estimated 5 billion viewers. The sheer number of people tuning in to support their favorite clubs is a bull case for the digital assets. A good number of them are expected to see a massive upside when the World Cup begins in November.
CITY trading at $5.7 | Source: CITYUSD on TradingView.com
Already Seeing Upside
The football fan tokens are already seeing some upside ahead of the start of the FIFA World Cup. Over the last 24 hours, the searches for the cryptocurrencies have been on the rise, resulting in them appearing at the top of the trending list on Coinmarketcap.
The Coinmarketcap ranks digital assets according to the number of searches on the platform and the Manchester City Fan Token (CITY) emerged as the most searched token for the last day. This put it at the top of the list. Another fan token, the Santos FC Fan Token (SANTOS) also appeared in 9th place on the top 10 most searched cryptocurrencies on the platform for the last 24 hours.
These fan tokens are also not doing bad price-wise. In the last day, some of the tokens have even seen double-digit gains. SANTOS is up 8.20% and CITY is up 9.08%. The FC Porto Fan Token is up more Ethan 17% in the last 24 hours, and so is the Portugal National Team Fan token.
Featured image from MARCA, chart from TradingView.com
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