7 months ago
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Despite having the purpose of connecting fans and teams, the fan tokens displayed an interesting correlation with teams’ results during today’s Champions League match.
Paris Saint-Germain (PSG) qualified for the UEFA’s Champions League semi-finals after beating Futbol Club Barcelona 4-1. Not only are PSG fans satisfied after the positive result, but PSG fan token investors alike, as the asset soared up to 23% during the match.
Barcelona beat PSG in the first quarterfinal game 3-2 and started winning today’s game with a goal scored by Raphinha. PSG fan token slipped 2% after that, reaching $4.32 a few minutes after Barcelona took the lead.
However, Dembélé tied the score before the end of the first half, prompting an upward movement in PSG’s token. The price peak of the last 24 hours, registered at $5.31, was reached after Mbappé shot a penalty kick and scored the third goal for PSG, taking the match to 3-1 in favor of the French squad and 5-4 in the cumulative result.
PSG fan token price in the past 24 hours. Image: CoinGeckoMeanwhile, Barcelona’s fan token has slumped 12% since the middle of the match, priced at $3.02 at the time of writing. Both tokens are issued by Socios.com, a service provider that bridges sports teams into the blockchain industry using its own infrastructure, the Chiliz Chain.
Fan tokens are assets used for interactions between fans and their favorite teams, giving holders the possibility to vote in team decisions and get VIP access to matches and events, according to Socios’ website.
Today’s price movements following both teams’ results revealed an interesting speculative feature found by investors.
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