Sports-Related Tokens Worth Keeping an Eye On
An unexpected new use for blockchain in sports is emerging, as the technology continues to improve and gain popularity across a wide range of sectors. When ticket sales have been severely impacted by the COVID-19 epidemic, clubs need to embrace this sort of innovation to survive.
There are a variety of ways in which blockchain technology may be used in the sporting arena, from fan tokens and digital collectibles, to fan loyalty and engagement systems, to new income sources. Clubs may now provide an online extension of their brand and address the demands of a younger, "digital-native" fan base outside of conventional physical games, therefore expanding their fan base and safeguarding their long-term existence. In this article, we’ll provide you with information on which are the top 5sports tokens worth keeping an eye on.
Fan Tokens
Because of its capacity to both provide new money sources for clubs and boost fan participation, fan tokens have become very popular.
There has been an increase in the use of fan tokens by top-tier Premier League teams like Manchester City and FC Barcelona. It took FC Barcelona less than two hours to sell out its $1.3 million initial batches of fan tokens. Fans may engage with the club, the players, gain points, receive discounts, and participate in a virtual ecosystem by leveraging blockchain technology in sports to issue their virtual currency.
Voting rights on projects such as goal celebration songs or the color of the club's training equipment are also provided through tokens, which offer supporters a feeling of participation in the club's decision-making. When it comes to connecting with supporters, teams might benefit from the use of fan tokens. FC Barcelona now has access to an estimated 450 million global supporters through blockchain technology. When it comes to worldwide fan engagement, blockchain technology in sports is playing an important role.
Flow
After the debut of Cryptokitties in 2017, the Ethereum blockchain's scalability problem became obvious.
It took the Dapper team some time to come up with a solution to this challenge of scalability, and they came up with Flow. CryptoKitties creators have constructed Flow, one of the best Sports tokens, which is a fast, decentralized, and developer-friendly blockchain, to support a wide range of applications, games, and the in-app purchases that power them. Without sacrificing decentralization or quality, FLOW's unique design ensures that an application's network maintains the requirements required to function properly. Moreover, it provides a safe way for developers to build on one other's work, allowing billions of customers throughout the globe to benefit from their effort.
Chiliz
The price of a Chiliz token was $0.0150 an hour after its formal debut in August 2019. Prices dropped to $0.009 per token in the first months of 2020, and then to $0.004 per token when the Covid-19 epidemic occurred.
Due to the many statements that Chiliz will spend more than $60 million in media and brand tokenization, the company saw a considerable increase in revenue last year.
In March 2021, the token price reached an all-time high of $0.89. However, the price fell to $0.40 as well, owing to significant volatility that affected the whole crypto market. For the time of this writing, a Chiliz token is trading at $0.19 per token. Several cryptocurrencies have stood the test of time, thanks to the Covid-19 epidemic. One of these cryptos is Chiliz.
Gaming investors are beginning to notice Chiliz's ability to withstand the pressures of the outside world. In a short amount of time, it has attracted some of the biggest sports organizations and investors in the industry. Everything points to CHZ being here to stay, and that the price will rise inexorably in the next term as additional features are made available.
Revv
REVV is an in-game currency for a variety of games released by Animoca Brands. REVV-based blockchain games provide players with true ownership of in-game resources, which includes an ability to buy and sell the NFTs and tokens on digital marketplaces, transfer them to other players and use the tokens in other supported games. REVV-based games are developed under a licensing agreement of recognisable sports brands such as Formula One and MotoGP.
The current price of REVV is $0.18 with a market worth of about $5 Mln. It has a circulating supply of 278.270.642. REVV is having a difficult time integrating itself into the cryptocurrency community. Risky framing parts have been in place for many days, and although the currency has excellent fundamentals, it doesn't seem to be a lucrative asset in the short run.