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Soccer Fan Tokens Lose Steam
Posted
April 19, 2022
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264
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April 19, 2022
264
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6:13Now PlayingFor many hopeful fans, soccer club tokens have proved a disappointment, with prices quickly losing steam within days. It’s now three years since fan tokens started trading on the main crypto exchanges, promising an alternative for clubs to gain financing and for fans to be closer to their favorite teams.
Both these options have yet to live up to expectation. Clubs that have issued tokens include the likes of Manchester City, SS Lazio, FC Porto, Santos FC, FC Barcelona, AC Milan and Trabzonspor. Some, like FC Arsenal have raised as much as $5.5 million in first-day sales of fan tokens, dubbed “initial fan token offerings,” though most have raised closer to $2 million in these sales. That’s a fraction of these clubs’ expenses.
Quicktake's Alex Webb and Bloomberg's Irene Garcia Perez explain why the tokens have disappointed some of the followers.
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