Football fever is driving up activity in fan tokens as major tournaments in Europe and the Americas approach.
What Happened: Fan tokens are gaining traction as the Euro 2024 and Copa América tournaments near, Reuters reported on Tuesday. These digital assets, issued by national teams or clubs, offer fans a tradeable way to engage with their favorite teams.
Activity in tokens linked to participating national teams has surged ahead of the Euro 2024, which kicks off on Friday, and the Copa América, starting a week later. The market value of the Chiliz cryptocurrency, the native coin of the Socios blockchain hosting most major fan tokens, has risen to over $1.07 billion from about $687 million at the start of the year, nearing levels last seen around the 2022 World Cup, according to CoinGecko data.
Trading ...