Fan tokens, digital assets that give sports fans exclusive engagement opportunities, saw a surge in trading volume, topping $1 billion in just 24 hours. OG Esports’ fan token, powered by the Chiliz blockchain, accounted for more than half of this volume.
OG Esports Drives Record Trading
Data shows that OG Esports’ fan token alone brought in around $563 million in trading volume, largely on the Binance platform. The token’s price also soared, gaining 87% in 24 hours and 245% in the last week. Other fan tokens also saw significant growth, with Santos FC and Alpine F1 tokens rising 58% and 23.65%, respectively.
Why Fan Tokens Are Gaining Popularity
Fan tokens allow fans to participate in team decisions and events, creating a sense of community among supporters. With a growing market cap of $348.5 million, these tokens offer a novel way for fans to connect with their favorite teams while highlighting the expanding role of blockchain in sports.
Source: The Block
