Football & Crypto: What You Need To Know
The world of football today is not left out of the cryptocurrency buzz. As fans are going wild with the football clubs they support, so is the popularity of tokens.
Top football clubs around the world have sponsors from companies in the past which include top companies like Sharp, Pirelli, Pepsi, and others in the past. Today, cryptocurrency companies and tokens have joined the football club sponsorship conversation.
Fans of football clubs have also been able to have more influence over their teams with their respective fan tokens. PSG, Manchester United, Galatasaray, Arsenal, and a host of other football sides have connections with crypto today.
In this post, we’ll look at how cryptocurrency is making waves in the world of football. You’ll also get to know about the crypto token created by your favorite football team.
Table of Contents
What Does Crypto Has To Do With Football?
Football has been in existence for ages past while crypto has been around for less than two decades. Bitcoin, the first crypto asset was only debuted in 2009. Crypto, today has seen the possibilities of getting bigger by partnering with football.
Many people around the globe have football as their favorite sports. Football is no doubt the most popular sports as it is followed keenly by men, women and kids all over the world. Teams like FC Barcelona, Manchester United, Real Madrid, Chelsea, Arsenal and others have become a ‘religion’ to many fanatic supporters globally.
Crypto on the other hand is gaining ground in our world today as it is seen as the ‘future money’. It is been used as a form of payment for goods and services while it also serve investment purpose among others.
Cryptocurrency hasn’t been accepted by the government of many nations of the world. The volatility in price of crypto assets has made it to be labelled as the most risky form of asset to deal with. Nevertheless, many investors are turning to crypto to make profits.
Today, as stated earlier, crypto coins and crypto companies are now sponsoring football clubs in a bid to get their projects well-known. Some football teams also have their own fan tokens which can be used for different purpose.
Some Football Clubs Sponsored By Crypto Projects
Football club these days have their kits been sponsored in a huge deal by crypto companies. European football teams, which is the most-watched in this part of the world now have crypto projects labelled on their jerseys.
English Premier league side, Watford FC, said that their new shirt was sponsored and paid in crypto by ‘Stake’. Manchester United have also recently been sponsored by crypto firm, Tezos.
Other top European clubs such as FC Barcelona, Inter Milan, Newcastle United and so on also have crypto firms on their sponsors list.
What are Football Fan Tokens?
Football fan tokens are a form of cryptocurrency that gives fans the right to vote on the operations of the club. This is one of the ways crypto aims to get bigger in our world.
The fan token also provide fans with special access to special merchandise, promotions, and games, among a few other benefits. For example, the first poll conducted by PSG allowed fans to vote on the armbands of the players.
These fan tokens are fungible, which means they can be easily exchanged for merchandise or experiences, unlike non-fungible tokens (NFT).
Another important thing to know about the fan tokens is the monetary benefits attached to it. If the demand for tokens increases their price increases as well. Fans have the right to sell their tokens at rates that are higher than their buying price to enjoy capital gains.
Top Football Club Fan Tokens
The fan tokens of PSG have the highest market capitalization of over $53 million. This is followed by the Manchester United fan tokens that have a market cap of about $42 million. The fan tokens of Athletico Madrid rank third and have a market cap of about $33 million while FC Barcelona fan token’s market cap is over $27 million.
Fans can easily purchase the digital tokens of their favorite teams from several crypto exchanges present online. This is however achievable for fans supporting these top football clubs. For buying fan tokens of clubs with a smaller issue size, you simply have to use a decentralized exchanges.
The price of these fan tokens is decided by the seller and fluctuates based on demand and supply.
Football & Crypto So Far
There has been an existing craze in the world of football. This joined by the buzz in the crypto space is definitely mouthwatering even though the future of crypto is uncertain.
Giant strides has been made by crypto in football in recent times. In 2018, crypto venture Quatocoin (QTC) famously purchased a 25% stake in Italian club Rimini FC 1912 entirely using cryptocurrency. Gibraltar United FC famously announced in 2018 that they’ll be paying their players using crypto (QTC).
Online betting platform Sportsbet.io is known for allowing bets via crypto. It serves as an official sponsor to a lot of big clubs like Arsenal, Southampton FC, Flamengo and Watford FC.
Lionel Messi’s transfer from FC Barcelona to PSG also got a crypto involvement. PSG paid a one-time bonus of one million euros to the Messi in the form of PSG tokens.
The fans token has been used by Galatasaray FC fans to select the song that plays when the team enters the field, while Juventus let fans choose the song that is played when the team scores a goal.
The football governing bodies, UEFA and FIFA have already started experimenting with payment for tickets for their flagship events via cryptocurrency. These have really shown how crypto has been moving in the football community.
The fact that crypto is not yet to be widely accepted is the only question mark raised regarding the partnership formed by crypto and football. This is seen when the Arsenal fan tokens’ advert was banned by the regulatory bodies in the UK.
Nevertheless, the pace at which crypto is moving in the world of football has shown the extent at which crypto can go in the future.
Also Read- What You Need To Know About Cosmos Token Before Investing In It