Fan Tokens spiked in volume during March after seeing a 204% increase in sales from January 2022.
March proved to be a tough month as global NFT sales took a massive hit. Fortunately, one of the areas immune to the negative crypto market sentiment was Fan Tokens. Based on Be[In]Crypto Research, approximately $3.5 billion was generated in sales by Fan Tokens in March.
To many fans, this figure is relatively smaller, considering the number of clubs across the globe. With that said, Fan Tokens soared 127% from Feb 2022 sales. The sales volume generated for Fan Tokens in Feb 2022 was around $1.5 billion.
Fan Tokens are digital blockchain assets that grant holders exclusive access to certain services provided by sports clubs.
By being a fan token owner, you can access fan-related membership perks like rewards, voting on club decisions, and participating in the design of club merchandise.
Fan Token global sales reach six-month high
Fan Tokens saw a year-over-year rise of 46% from March 2021. The global sales of Fan Tokens for March 2021 were approximately $2.3 billion, according to Be[In]Crypto Research.
During the market peak in May 2021 when Ethereum reached an all-time high, Fan Tokens also reached new milestones. The sales volume of Fan Token in May 2021 was in the region of $9.4 billion.
Due to a bearish outlook of the market in the third and fourth quarters, global sales of Fan Token fell to approximately $8.4 billion in Aug 2021 and to $2.2 billion in Dec 2021.
What caused Fan Token’s spike in sales?
The single-day sales high in Jan was $62 million on Jan 11. In the first month of 2022, Fan Tokens spent more days generating sales in the range of $30 million to $40 million.
The single-day sales high in Feb was $234 million on Feb. 28. In the second month of 2022, Fan Tokens spent many days generating sales in the range of $40 million to $85 million.
The single-day high in sales in March 2021 was in the region of $314 million on March 11. In March 2021, Fan Tokens spent more days generating sales below $100 million.
The single-day high in sales in March 2022 was in the region of $387 million on March 13. In the third month of 2022, Fan Tokens spent only two days generating sales in the range of $40 million to $50 million. Many days were spent generating sales above $50 million, and some days saw sales generation above $100 million. There were two days when sales generation was higher than $200 million, and one day when sales crossed $300 million.
Overall, the single-day high of March 2022 was 65% higher than February 2022, 516% above January 2022, and an increase of 23% in the single-day high of March 2021.
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