Connect with us
European Gaming Congress 2024

Blockchain

Crypto fan tokens record up to 170% profit in 2023!

Published

on

crypto-fan-tokens-record-up-to-170%-profit-in-2023!

Over the last few years crypto has begun to integrate with sports through the introduction of crypto fan tokens. Purchasing these tokens allows fans to invest in their club and engage in different ways, including allowing fans to vote on decisions within the club and have access to certain exclusives. But are they profitable?

A new study by crypto tax experts CoinLedger has analysed the price action of these fan tokens over the course of 2023. Using the data they calculated how much money someone would be starting 2024 with if they invested $100 into each coin on January 1st 2023.

For context Bitcoin had a 155.18% increase in 2023 so $100 invested in Bitcoin on January 1st 2023 would have been $255.17 on the 1st of January 2024.

Top 5

Advertisement
Stake.com

#1 – $BFC – Bologna FC 1909

Bologna are an Italian football club that play in Serie A. They have won seven titles , two Coppa Italia titles and the Intertoto Cup. Bologna Fans are one of the few Italian sides that have access to a fan token, on the first of January 2023 the price of the token was $0.24, meaning $100 would have bought 415.63 tokens. The price on January 1st 2024 was $0.66, this means that the initial $100 would now be $273.48 an increase of 173.48%. This token outperformed Bitcoin by 18.3% in 2023.

PNL: 173.48%

#2 – $DSG – GNK Dinamo Zagreb

Dinamo Zagreb are currently third in the Croatian football league, although they won the league last season so fans may be hoping for more this season. However the $DSG token performance has been consistently positive in 2023. Its initial low price of $0.22 means that $100 would have bought you 461.89 tokens at the start of January 2023, which if sold on January 1st 2024 would have netted you $216.48 – a 116.49% increase.

Advertisement
Stake.com

PNL: 116.49%

#3 – $EFC – Everton

Everton have had a rocky start to the season, having to make up a 10 point deduction for breaches in Financial Fair Play. However, they have since had a run of good results and are fighting their way back up the table with manager Sean Dyche. The Everton fan token started 2023 at a price of $0.42 and on the 1st of January this figure was $0.91, an increase of 114.01%.

PNL: 114.01%

#4 – $AVL – Aston Villa

Advertisement
Stake.com

Aston Villa are one of the founding teams of the Premier League and also one of the first teams to launch a fan token, although it was met with mixed emotions. The price started at $0.63 so $100 would have bought 159.56 tokens. The market conditions lead to the price rising to $124. This would mean that fans who invested $100 would have cashed out $197.86 on January 1st 2024.

PNL: 97.86%

#5 – $LEG – Legia Warsaw

Legia Warsaw is the most successful club in Poland winning the most Ekstraklasa titles, 20 Polish Cups and 5 Polish Super Cup trophies. The fan token had a positive 2023 with the price rising from $0.25 to $0.41, which equates to a 62.22% increase in price. This means a $100 investment would be valued at $162.22 on January 1st 2024.

PNL: 62.22%

Advertisement
Stake.com

Bottom 5

#1– $RFT – Rangers

Scottish side Rangers have had the worst performing fan token in 2023 with a drop of -46.84%. On January 1st 2023 the price was $0.02 which would have bought 6329.11 tokens. This price plummeted to $0.008 which means the initial $100 would only be worth $53.16 at the start of 2024.

PNL:  -46.84%

#2 – $PSG – Paris Saint Germain

Advertisement
Stake.com

French Side Paris Saint Germain have had the second biggest losses over 2023. The initial price was $5.42, the most valuable fan token on the market, however this dropped over 2023 to $3.28 which is a 39.46% drop meaning a $100 investment would only have been worth $60.53 on January 1st 2024.

PNL: -39.46%

#3 – $NAP – Napoli

S.S.C Napoli play in the topflight of Italian football, Serie A, which they have won twice. Their token $NAP was worth $3.94 in January 2023, which would have purchased 25.388 tokens. In January 2024, the price had dropped to $2.57, which means that the original $100 would now be worth $65.25.

PNL: -34.75%

Advertisement
Stake.com

#4 – $BAR – Barcelona

Barcelona are one of the biggest teams globally and have won a plethora of domestic and worldwide competitions making them one of the most decorated teams in history. The fan token; much like Barcelona’s current season, isn’t quite having the run that fans may expect. Starting 2023 at a price of $3.49, over the year the price fell to $2.29, which would have left an investment of $100 with only $65.54.

PNL: -34.46%

#5 – $LAZIO – Lazio

Rome-based Lazio, who play in Serie A, currently sit fifth in the league. The $LAZIO token was worth $2.97 on January 1st 2023. This would have bought fans 33.69 tokens with their $100. The price, however, dropped to $1.96, meaning fans would have only $66.03 left of their initial investment.

Advertisement
Stake.com

PNL: -33.97%

A spokesperson from CoinLedger commented: “Crypto is quickly seeping into many parts of society. Its integration with sports teams has been met with a plethora of views. Proponents highlight the engagement and interaction that these technologies allow fans to have with their favourite teams, and say it gives an increased sense of loyalty and community, however like any investment there are risk factors.

“Over the last few years, there have been volatile market conditions and many investors have lost money. Therefore it’s important to never invest what you can’t afford and to do your own in-depth research before you invest”

The post Crypto fan tokens record up to 170% profit in 2023! appeared first on HIPTHER Alerts.

Advertisement
Stake.com
Continue Reading

Blockchain

Global Fintech Market Size To Worth USD 1009.10 Billion By 2033 | CAGR Of 14.01%

Published

on

global-fintech-market-size-to-worth-usd-100910-billion-by-2033-|-cagr-of-14.01%
Continue Reading

Blockchain

Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

Published

on

legal-luminary-sarah-brennan-champions-pioneering-crypto-regulation-approaches

Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

Advertisement
Stake.com

Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

Advertisement
Stake.com
Continue Reading

Blockchain

Italy Ramps Up Crypto Oversight in Line with MiCA

Published

on

italy-ramps-up-crypto-oversight-in-line-with-mica

Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

Advertisement
Stake.com

This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

Continue Reading
Advertisement
Stake.com
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE