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Several major Turkish football clubs saw the value of their blockchain-based fan tokens decline during the 2023–24 season, despite continued efforts to promote these digital assets as tools for fan engagement.
Fan tokens are cryptocurrency-based assets issued by clubs to strengthen ties with supporters. These tokens typically offer holders voting rights on club decisions, access to exclusive content, and promotional perks.
According to data from CoinMarketCap, the global market capitalization of fan tokens is currently estimated at $220 million.
In Türkiye, clubs such as Galatasaray, Fenerbahce, Besiktas, and Trabzonspor, along with several lower-league teams, have launched fan token projects in collaboration with crypto firms.
However, the most recent season brought significant losses for investors.
Galatasaray, crowned champions for the 25th time, launched its fan token at ₺52 (approx. $1.32). Despite reaching a peak of over ₺150 (approx. $3.82) during the season, it closed the year at around ₺49 (approx. $1.25).
Fenerbahce’s token started the season at ₺29 (approx. $0.74) and ended at ₺17 (approx. $0.43).
Besiktas’s token dropped from ₺23 (approx. $0.59) to about ₺10 (approx. $0.25), while Trabzonspor’s fell from ₺29 (approx. $0.74) to ₺17 (approx. $0.43).
Other clubs such as Goztepe, Samsunspor, and Alanyaspor also recorded similar declines in the value of their digital assets.
Outside Turkiye, top international clubs such as Paris Saint-Germain, Juventus, Manchester City, Porto, and Barcelona have also issued fan tokens.
National teams from Argentina, Brazil, Portugal, and Italy, as well as Formula 1 teams Alpine and Aston Martin, have fan tokens actively traded on cryptocurrency exchanges.
While fan tokens remain a popular method for clubs to generate revenue and engage with fans, their recent performance has raised questions about their long-term value and market stability.
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