Fan Tokens Analysis: Reshaping Sports Industry with Non-Fungible Tokens

Abstract

Purpose: This analysis examines the trend of using non-fungible tokens (NFTs) to represent digital collectibles, specifically in the context of the sports industry. The use of NFTs, or NFT-FAN tokens, allows for the creation of unique and verifiable digital collectibles that can be bought, sold, and traded on Blockchain marketplaces. This trend has the potential to reshape the sports industry by providing new revenue streams for teams and players, as well as giving fans a new way to engage with and show support for their favourite teams and players. The analysis will explore the current state of the NFT-FAN token market, its potential impact on the sports industry, and the challenges and opportunities it presents.

Design/Methodology/Approach: This research attempts to identify the market cap for NFT Tokens with UFA Champions Football League case study analysis in three stages. The first stage is Data preprocessing, followed by market analysis and finally observed market cap ups and downs along with types of NFT Tokens.

Findings: The finding shows 1) Most and Least Traded Token in Last 24 Hours 2) Lowest and Maximum priced FAN Token

Originality//Value: This research brings the importance of FAN Token in the field of sports industry and trend for NFTs Token Market Cap in sports industry.