The global football leagues are kicking off again this weekend, which will undoubtedly impact the value of fan tokens. Several assets have already started moving up in anticipation of the new season. However, it may prove very difficult for these tokens to reach new all-time highs.
Fan Tokens Start Moving Up
It isn’t too surprising to see the majority of fan tokens gain some value in the past week. Most of these tokens are tied to football clubs in Europe, South America, or Asia. As the competition stopped a few months ago and the pre-season got underway, people started keeping close tabs on the teams and what they were up to. With the new season now around the corner, fans express their favoritism toward specific teams once again.
Unsurprisingly, the bigger football teams have the highest market cap among fan tokens. Atletico Madrid, Paris Saint-Germain, and Manchester City remain far ahead of the competition. However, Lazio Roma, Santos FC, FC Barcelona, Juventus, and Inter Milan are not too far behind either. There is now a good collection of fan tokens that have a market cap of over $10 million, even though overall growth potential remains seemingly limited.
Overall enthusiasm for all these tokens has risen strongly this week. Lazio’s fan token rose by over 34%, whereas FC Barcelona’s token jumped by over 20%. Barcelona picked up some big players despite being in debt for over a billion dollars. The club has much to live up to after a relatively disappointing season, and expectations are as high as ever. A good start to the new season is mandatory, although the first game isn’t until August 13th. For Lazio, the game against Bologna on Sunday will pose a thorough test.
However, the strongest riser is the Argentine Football Association Fan Token or ARG. It is unusual to see a whole football association explore fan tokens rather than individual clubs. However, the ARG token gained over 66% in value this week, which is rather stellar. It is one fan token that might eventually approach its all-time high, although that is still far away.
An Interesting Time Awaits
Curiously, it seems the bullish momentum for the Paris Saint-Germain Fan Token has either run out of steam or still needs to kick off. The most valuable of all fan tokens notes a weekly loss of 0.7%, even though it has not gone through an outspoken surge yet. It appears many holders await this weekend’s first game against Clermont Foot. All the big stars still play for PSG, so there should be some exciting gameplay to look forward to.
There are some tokens not performing too hot right now. For example, Rangers Fan Token took a 22.3% loss this week. The team’s performance in the Champion’s League play-offs against Union SG may have made some people far more hesitant. Failure to qualify via the return game would still give the team Europa league guarantees, though, but it may not live up to fans’ expectations.
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