AC Millan's fan token is on for a bull run amid their recent champions league victory over Napoli, making the Gli Azzurri's fan token tumble.
Fan tokens have continued to face more popularity day by day as the world of football integrates more with blockchain. The Napoli fan token, one of these fan tokens, is recording significant drops ahead of a recent champions league clash that saw the team exit the competition.
Napoli lost to close rivals AC Millan whose token is relatively surging amid the progression amid what seemed a tough clash. Napoli’s fan token had recorded a decrease of more than 3% ahead of the loss, as the trading volume surged by 230% representing the massive sell-offs currently being seen on the fan token’s network. The Nap token currently has a circulating supply of 1,650,686 NAP of the 10 million available tokens.
Napoli fan token 1-day chart | Source: CoinMarketCap
On the other hand, the Millan fan token is making significant strides as it sits on Napoli’s loss. Trading at $3.2 as of press time, the asset had recorded an increase of over 4.5% within 24 hours as football token lovers now flock to the token’s market with it recording a gain of 197% within 24 hours showing increased whale activity.
AC Millan fan token 1-Day chart | Source: CoinMarketCap
Fan tokens, what are they?
Football fan tokens are a type of cryptocurrency that allows fans to interact with their favorite football clubs or players in new ways. These tokens are usually built on blockchain technology and provide fans with access to exclusive content, voting rights on club decisions, rewards, and other benefits. For instance, fan tokens can be used to vote on team jerseys, players of the match, or even which charity to donate a portion of the team’s profits to.
What makes football fan tokens special is that they create a direct connection between fans and the clubs or players they support, allowing for a more engaged and active community. Moreover, fan tokens can also provide a new revenue stream for football clubs, as they can sell these tokens to fans or hold initial coin offerings (ICOs) to fund new initiatives. This creates a win-win situation for both fans and clubs, as fans get more say in their favorite teams’ decisions while also being rewarded for their loyalty, and clubs benefit from increased fan engagement and financial support.