Highs and lows for crypto fan tokens

Highs and lows for crypto fan tokens

BOLOGNA FC: Italian team gave best return on fan tokens Photo credit: CC/Beric Dondarrion

Cryptocurrency is joining forces with sport, especially football, through crypto fan tokens.

These allow football fans to invest in their club while giving them a say in management decisions as well as access to some exclusives.

But do they make a profit on their investment?

Crypto tax experts CoinLedger decided to analyse the actions of fan tokens in 2023. Using this data they calculated how much a $100 (€91.80) fan token investment made on January 1, 2023 would be worth 12 months later.

“For context, Bitcoin had a 155.18 per cent increase in 2023 so $100 invested in Bitcoin on January 1, 2023, was worth $255.17 (€234.23) on January 1, 2024,” CoinLedger explained.

Football apart, the experts found that Bologna FC gave the best return.  Bologna is one of Italy’s few sides with fan tokens, which in January 2023 cost $0.24 (€0.22) each.

An initial $100 investment would now be worth $273.48 (€251.10) an increase of 173.48 per cent while outperforming Bitcoin by 18.3 per cent in 2023.

Dinamo Zagreb in Croatia was next best, with a 116.49 per cent increase on an initial $100, followed by Everton (114.01 per cent).

Anyone buying fan tokens from Rangers would be disappointed as their $100 would have been worth just $53.16 (€48.82) on January 1 this year, a 46.84 per cent loss that put the Scottish side at the bottom of the CoinLedger list.

Barcelona FC was little better, languishing only three places ahead of Rangers with its $3.49 (€3.20) fan tokens falling to $2.29 (€2.10), with the initial $100 now worth (€60.18).

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.

Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.