Sports Crypto Tokens And How They Can Be Included In Wealth Planning By Cointelegraph

©Reuters. Sports crypto tokens and how they can be included in estate planning

One of the areas where the phenomenon of cryptographic tokens has been gaining ground is in sports. When the stadiums were empty and the hits to the ball, plus the shouts of players and coaches, came to us from the screens with an unusual sound, the phenomenon of “fan tokens”, which allow their owners to have a certain power of decision on aspects of the club they are fans of and access benefits, accelerated its expansion in the pandemic, allowing clubs to generate a new source of income and maintain, or even strengthen, ties with their fans.

According to the specialized site Fan Tokens Rank, this market today already moves USD 550 million and could reach USD 10,000 million in the coming years, expanding to other sectors that seek to capitalize on the relationships of admiration and/or fanaticism they possess.

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These tokens are cryptographic assets issued by clubs (or athletes) that seek to capitalize on relationships with their followers, generating greater “engagement” or interaction that they can in turn capitalize on through exclusive offers and products for those who own said tokens, which they can take part of making certain decisions. These are usually purchased through the issuer’s platform – for example, the club’s website – and also listed on a third-party platform, such as an exchange.

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