Fan Tokens continues to reach new highs after seeing their all-time sales volume reach new milestones despite the steep decline of cryptocurrencies.
Fan Tokens are the only area in the crypto space at present that have bucked the bearish trend dominating the market. As of June 15, Fan Token sales were in the region of $2.63 billion. This figure has contributed significantly to the total sales volume of global fan tokens of approximately $80.99 billion, according to Be[In]Crypto Research.
In terms of sales volume, Global Fan Tokens have earned more than $40 billion more in sales than non-fungible tokens (NFTs).
Some of the football clubs that contributed to this landmark include Paris Saint Germain (PSG), Lazio, Santos FC, FC Barcelona, Manchester City, FC Porto, AC Milan, Inter Milan, Galatasaray, Atletico Madrid, AS Roma, Juventus, Trabzonspor, Valencia CF, Arsenal, Leeds United, Flamengo, and Istanbul Basaksehir.
What’s behind soaring token sales?
The increasing demand for fan tokens in 2020 led to a growth in monthly sales volume. Before Dec 2020, monthly global fan tokens were below $100 million. Then in Dec 2020, fan token sales were approximately $1.03 billion.
Fan Token sales volume rose with the prices of cryptocurrencies in May 2021. During the month, global fan token sales reached an all-time high of $9.43 billion and corresponded to a market capitalization of $210.38 million.
Sales tested May’s peak in March 2022 when they reached $9.42 billion.
Other months that made significant contributions to this sales volume were April 2021 ($5.49 billion), Aug 2021 ($8.43 billion), Dec 2021 ($5.43 billion), and May 2022 ($5.11 billion).