Munich Personal RePEc Archive

Blockchain, sport and fan tokens

Vidal-Tomás, David (2022): Blockchain, sport and fan tokens.

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We examine a blockchain application in the sport industry through an analysis of Socios.com. In particular, we study the performance and dynamics of fan tokens and the exclusive on-platform currency, Chiliz. Our contribution to the literature is two-fold. First, we show that supporters do not lose money by supporting their sports teams through fan tokens and Chiliz, on average, and traders can outperform the market with Chiliz. Second, given the absence of a correlation with the cryptocurrency market, traders can use these assets to diversify their cryptocurrency portfolios, and supporters own tokens that are not driven by the cryptocurrency market.

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