• Loading stock data...
Friday, March 29, 2024
2024 Best Venues nominations are open now through April 8! Submit Now

Blockchain Fan Token Adoption Heating Up

  • The Socios.com has seen 50% growth in total market cap since June.
  • The company has expanded its partnerships into the U.S. most recently welcoming 13 NHL franchises onto the platform.
Design: Alex Brooks

Soccer clubs have potentially made hundreds of millions of dollars selling fan tokens that unlock real-world benefits for fans. 

According to data from FanMarketCap.com, the fan token economy has seen 50% growth since June, with the total market cap  increasing from $260 million to $391 million. 

Leading the way is Socios.com, which allows fans to engage with favorite teams and clubs through digital assets. The tokens unlock access to special offers and voting rights on decisions the team puts before the fans, such as which player should take over the team’s Instagram for a day.

The company has been able to provide instant value to partners. When F.C. Barcelona launched an initial fan token offering in June of 2020, the tokens sold out in less than two hours, generating $1.3 million for the debt-burdened club.  

Clubs generate revenue from the Socios.com platform in the form of direct payments. Currently, teams fan tokens are trading down relative to their Q2 highs.   

  • Paris Saint-Germain fan tokens are currently trading at $14.56 with a $45.3 million market cap.
  • Manchester City tokens are currently trading at $9.49 with a market cap of $33.8 million. 
  • Barcelona tokens are currently trading at $8.8 with a $31.1 million market cap. 

Socios.com has also partnered with U.S. properties in the MLS, NBA, NHL, and NFL. While those partnerships have yet to offer fan tokens, the model could soon be introduced domestically.

If you want to learn more about the use case for fan tokens and blockchain in sports, check out our Insights report.  

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Fanatics’ New MLB Uniforms Flop on Opening Day

The Yankees sweat right through their gray jerseys.

The NFLPA Report Card Is Doing Exactly What It Was Intended For

Robert Kraft hasn’t gone to school in nearly 60 years, but on Tuesday the Patriots’ owner found himself talking about his report card. 

How Lack of Planning by NCAA, Gonzaga Led to Racial Abuse of Utah Athletes

The NCAA gave Gonzaga a waiver to place teams in an extremist hotbed.

NCAA President Calls for Nationwide Ban on College Prop Bets

The NCAA president is reacting to the recent betting turmoil in sports.
podcast thumbnail mobile
Front Office Sports Today

Why the Timberwolves Sale was Called Off

0:00
0:00

Featured Today

March 22, 2024, Brooklyn, NY, USA; Northwestern Wildcats guard Brooks Barnhizer (13) and Northwestern Wildcats guard Boo Buie (0) react in overtime against the Florida Atlantic Owls in the first round of the 2024 NCAA Tournament at the Barclays Center.
March 27, 2024

‘An Expensive Game’: March Madness and NIL Collectives Are Intertwined

At schools nationwide, collectives are fueling NCAA tournament runs and vice versa.
Iowa’s Caitlin Clark (22) waits to be announced in the starting lineup against West Virginia in a NCAA Tournament round of 32 game Monday, March 25, 2024 at Carver-Hawkeye Arena in Iowa City, Iowa.
March 26, 2024

The Women’s Trading Card Market Is Overlooked. Can Caitlin Clark Change That?

Traditionally, women’s sports cards have been a marginal part of collectibles.
The Sports Illustrated cover signed by Derek Jeter and Alex Rodriguez, February 27, 2019, at Don & Charlie's, 7501 E. Camelback Road, Scottsdale. Don Charlie S
March 24, 2024

Everything You Need to Know About the Ongoing ‘Sports Illustrated’ Saga

Understanding the strange state of affairs for the nearly 70-year-old publication.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
Spotify
Multiple - USA Careers
DraftKings

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.
February 7, 2024

ESPN DTC to Debut by Fall 2025, but Streaming Alliance Hastens Market Entry

Date set for stand-alone version of network, but new joint venture will beat that by a year.
Exterior of Nike Company Store
February 16, 2024

Nike to Lay Off 2% of Its Workforce in Cost-Savings Effort

The sportswear giant hinted at staff cuts in a December earnings call.
Sponsored

How Daily Fantasy Sports Solved NBA Fantasy

The remarkable growth of the #1 Discord sports server in the world.
January 22, 2024

They Make Sports Balls—and They Could Be Worth Almost $9 Billion

Amer Sports looks to raise as much as $1.8 billion in the public markets.
A view of a FanDuel sportsbook location.
January 18, 2024

FanDuel Strengthens U.S. Dominance Ahead of NYSE Debut

Flutter posts strong financial results as NYSE shares are set to debut Jan. 29.
The swoosh logo at Nike Eugene.
September 28, 2023

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.
The PGA Tour and PIF have a self-imposed Dec. 31 deadline to finalize their golf merger.
August 7, 2023

Saudi Arabia’s PIF Aims Higher With Launch of Sports-Focused Investment Company

The PIF has launched a new company, SRJ Sports Investments.