People prefer fan tokens now over NFT.
CryptoSlam, a non-fungible token (NFT) data aggregator website, said sales of fan token type cryptocurrencies or known as ‘fan tokens’ jumped 27.53% in a week compared to NFT which plunged by 31.66%.
According to the website, the market capitalization of fan tokens soared by 41.3% over the same period while NFT recorded an increase of only 30.4%.
For anyone who doesn’t know, fan tokens allow investors to get involved with a particular football and e-sports club or team, including access to them to get rewarded or vote in a decision.
Recently Socios.com, the fan token platform in the Chiliz chain, has announced the expansion of its ecosystem by offering fan tokens for other popular sports leagues such as the National Basketball Association (NBA), National Hockey League (NHL) and National Football League (NFL).
Chiliz, which was trading at US $ 0.2361 at the time of this writing, had posted a 30% gain in the last week as a result of surge support in the crypto market.
Meanwhile, Dune Analytics data reports that some NFT projects have traded slowly and the world’s largest NFT market, OpenSea has lost 17% of its trading value over the past week.
