Over the last few years crypto has begun to integrate with sports through the introduction of crypto fan tokens. Purchasing these tokens allows fans to invest in their club and engage in different ways, including allowing fans to vote on decisions within the club and have access to certain exclusives. But are they profitable?
A new study by crypto tax experts CoinLedger has analysed the price action of these fan tokens over the course of 2023. Using the data they calculated how much money someone would be starting 2024 with if they invested $100 into each coin on January 1st 2023.
For context Bitcoin had a 155.18% increase in 2023 so $100 invested in Bitcoin on January 1st 2023 would have been $255.17 on the 1st of January 2024.
Top 5
#1 – $BFC – Bologna FC 1909
Bologna are an Italian football club that play in Serie A. They have won seven titles , two Coppa Italia titles and the Intertoto Cup. Bologna Fans are one of the few Italian sides that have access to a fan token, on the first of January 2023 the price of the token was $0.24, meaning $100 would have bought 415.63 tokens. The price on January 1st 2024 was $0.66, this means that the initial $100 would now be $273.48 an increase of 173.48%. This token outperformed Bitcoin by 18.3% in 2023.
PNL: 173.48%
#2 – $DSG – GNK Dinamo Zagreb
Dinamo Zagreb are currently third in the Croatian football league, although they won the league last season so fans may be hoping for more this season. However the $DSG token performance has been consistently positive in 2023. Its initial low price of $0.22 means that $100 would have bought you 461.89 tokens at the start of January 2023, which if sold on January 1st 2024 would have netted you $216.48 – a 116.49% increase.
PNL: 116.49%
#3 – $EFC – Everton
Everton have had a rocky start to the season, having to make up a 10 point deduction for breaches in Financial Fair Play. However, they have since had a run of good results and are fighting their way back up the table with manager Sean Dyche. The Everton fan token started 2023 at a price of $0.42 and on the 1st of January this figure was $0.91, an increase of 114.01%.
PNL: 114.01%
#4 – $AVL – Aston Villa
Aston Villa are one of the founding teams of the Premier League and also one of the first teams to launch a fan token, although it was met with mixed emotions. The price started at $0.63 so $100 would have bought 159.56 tokens. The market conditions lead to the price rising to $124. This would mean that fans who invested $100 would have cashed out $197.86 on January 1st 2024.
PNL: 97.86%
#5 – $LEG – Legia Warsaw
Legia Warsaw is the most successful club in Poland winning the most Ekstraklasa titles, 20 Polish Cups and 5 Polish Super Cup trophies. The fan token had a positive 2023 with the price rising from $0.25 to $0.41, which equates to a 62.22% increase in price. This means a $100 investment would be valued at $162.22 on January 1st 2024.
PNL: 62.22%
Bottom 5
#1– $RFT – Rangers
Scottish side Rangers have had the worst performing fan token in 2023 with a drop of -46.84%. On January 1st 2023 the price was $0.02 which would have bought 6329.11 tokens. This price plummeted to $0.008 which means the initial $100 would only be worth $53.16 at the start of 2024.
PNL: -46.84%
#2 – $PSG – Paris Saint Germain
French Side Paris Saint Germain have had the second biggest losses over 2023. The initial price was $5.42, the most valuable fan token on the market, however this dropped over 2023 to $3.28 which is a 39.46% drop meaning a $100 investment would only have been worth $60.53 on January 1st 2024.
PNL: -39.46%
#3 – $NAP – Napoli
S.S.C Napoli play in the topflight of Italian football, Serie A, which they have won twice. Their token $NAP was worth $3.94 in January 2023, which would have purchased 25.388 tokens. In January 2024, the price had dropped to $2.57, which means that the original $100 would now be worth $65.25.
PNL: -34.75%
#4 – $BAR – Barcelona
Barcelona are one of the biggest teams globally and have won a plethora of domestic and worldwide competitions making them one of the most decorated teams in history. The fan token; much like Barcelona’s current season, isn’t quite having the run that fans may expect. Starting 2023 at a price of $3.49, over the year the price fell to $2.29, which would have left an investment of $100 with only $65.54.
PNL: -34.46%
#5 – $LAZIO – Lazio
Rome-based Lazio, who play in Serie A, currently sit fifth in the league. The $LAZIO token was worth $2.97 on January 1st 2023. This would have bought fans 33.69 tokens with their $100. The price, however, dropped to $1.96, meaning fans would have only $66.03 left of their initial investment.
PNL: -33.97%
A spokesperson from CoinLedger commented: “Crypto is quickly seeping into many parts of society. Its integration with sports teams has been met with a plethora of views. Proponents highlight the engagement and interaction that these technologies allow fans to have with their favourite teams, and say it gives an increased sense of loyalty and community, however like any investment there are risk factors.
“Over the last few years, there have been volatile market conditions and many investors have lost money. Therefore it’s important to never invest what you can’t afford and to do your own in-depth research before you invest”
