PSG's Fan Token took the limelight Wednesday, supported by news from BitPanda and Chiliz (CHZ). In recent weeks, the movement of the forty Socios Fan tokens has more closely mirrored the sentiment of fans towards team and club performance.
The European football season is drawing to a close, with the English Premier League and Italian Serie A still not having a clear winner. In Ligue 1, the French top flight, Paris Saint-Germain (quotation PSG), with its stars, is leading by 15 points with one game to go.
According to CoinGecko, Paris Saint-Germain overtook Manchester City Fan Token (CITY) at the top of the Fan Token chart on Wednesday. In 7 days, Paris Saint-Germain surged 132,5%, reaching a market value of $ 33,08 million, of which 82% in the last 24 hours.
In contrast, Manchester City Fan Token was up a modest 56,3% and is in second place, with a market cap of $ 25,21 million.
Socios Fan tokens get a boost at the end of the season
This week, the stars lined up for football Fan Token holders, with Fan Tokens on the run amid a broader cryptocurrency market sell-off. On Tuesday, Chiliz announced the launch of Scoville Testnet Phase 2. Key improvements include the launch of PepperSwap, a decentralized exchange (DEX), and Fan Token test polls.
For football clubs and fans, the Fan Token Test Survey offers an enticing prospect. The ultimate goal is for Fan Token holders to vote on club decisions. Last week, Chiliz announced a Head2Head Burn. Head2Head Burn reduces fans' token supply based on goals scored and match results.
The introduction of the Head2Head Burn competition means that the best performing teams will see more tokens burned. This will push token prices upward, rewarding token holders.
However, the announcement had limited impact on Fan Token price action as the broader market struggled with the collapse of TerraUSD (UST) and Terra LUNA. However, it wasn't just network news that provided a push.
Bitpanda announces the listing of seven Socios Fan tokens
For the winners of Ligue 1, PSG, fans received the bonus from BitPanda which announced the listing of the tokens on Wednesday. BitPanda has also listed the Juventus fan (JUV) token, Atletico De Madrid fan token (ATM), Santos FC fan token (SANTOS), Porto fan token (PORTO), the token of the Barcelona fan (BAR) and the token of the Manchester City fan.
After PSG, Juventus and Santos fans were the most responsive, with a 57% and 47% increase in fan tokens in the 24 hours. The increase in fan engagement thanks to Chiliz network improvements and the announcement of BitPanda put Fan Tokens in the spotlight amid the cryptocurrency market crisis.
Socios Fan Tokens promote the involvement of fans in the world of football
Forty international club fan tokens are currently available within Socios. Fan Tokens give holders a say in a club's decision-making process, rewards and access to exclusive promotions for Fan Token holders, games, chat, and the chance to become a superfan.
Socios fan tokens are found on the Chiliz Chain, an authority-proof Ethereum-based sidechain. Among the other teams that belong to Socios are Arsenal and Everton of the English Premier League and also the Argentine national football team.