One of the reasons why the price of fan tokens has increased to such an extent is the partnership between Socios and the UEFA. This has led to increased attention on football with the qualifying matches of the World Cup currently ongoing and the popularity of NFTs being combined with the most viewed sport in the entire world.
According to data received from TradingView and Cointelegraph Markets Pro, it has been understood that the three biggest gainers over the last 1 day were FC Barcelona Fan Token, Atletico De Madrid Fan Token, AS Roma Fan Token, which are the fan tokens forming a part of the Chilliz protocol.
Socios Partnering With UEFA Could Be The Next Big Thing For Football
As it stands, Socios have been increasing in their popularity over a period of time, as most NFTs have started seeing an increased utilization as the possible applications of such technology have begun to be recognized in several sectors.
One of the major subsectors of the market has definitely gone through a spike in its momentum on the 28th of February- which is technically a fan token project. These also come with protocols that allow their holders to move in with the governance of their favorite sports brands.
A recently announced partnership between UEFA, the governing body of football in Europe, and Socios,- a protocol that usually focuses on the curation of fan tokens- has been seen as a reason for such a current rally. The partnership will be moving on till 2024 and has already established this protocol as the regional sponsor for the UCL.
Through this collaboration between Socios and the UEFA, most of the Fan Tokens will be deemed available for free to Fan Token holders of most of the clubs that have been participating in the UCL as well as the Europa and the Europa Conference League.