Fan Tokens spiked in volume during March after seeing a 204% increase in sales from January 2022.
March proved to be a tough month as global NFT sales took a massive hit. Fortunately, one of the areas immune to the negative crypto market sentiment was Fan Tokens. Based on Be[In]Crypto Research, approximately $3.5 billion was generated in sales by Fan Tokens in March.
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To many fans, this figure is relatively smaller, considering the number of clubs across the globe. With that said, Fan Tokens soared 127% from Feb 2022 sales. The sales volume generated for Fan Tokens in Feb 2022 was around $1.5 billion.
Fan Tokens are digital blockchain assets that grant holders exclusive access to certain services provided by sports clubs.
By being a fan token owner, you can access fan-related membership perks like rewards, voting on club decisions, and participating in the design of club merchandise.
Fan Token global sales reach six-month high
Fan Tokens saw a year-over-year rise of 46% from March 2021. The global sales of Fan Tokens for March 2021 were approximately $2.3 billion, according to Be[In]Crypto Research.
During the market peak in May 2021 when Ethereum reached an all-time high, Fan Tokens also reached new milestones. The sales volume of Fan Token in May 2021 was in the region of $9.4 billion.
Due to a bearish outlook of the market in the third and fourth quarters, global sales of Fan Token fell to approximately $8.4 billion in Aug 2021 and to $2.2 billion in Dec 2021.
What caused Fan Token’s spike in sales?
The single-day sales high in Jan was $62 million on Jan 11. In the first month of 2022, Fan Tokens spent more days generating sales in the range of $30 million to $40 million.
The single-day sales high in Feb was $234 million on Feb. 28. In the second month of 2022, Fan Tokens spent many days generating sales in the range of $40 million to $85 million.
The single-day high in sales in March 2021 was in the region of $314 million on March 11. In March 2021, Fan Tokens spent more days generating sales below $100 million.
The single-day high in sales in March 2022 was in the region of $387 million on March 13. In the third month of 2022, Fan Tokens spent only two days generating sales in the range of $40 million to $50 million. Many days were spent generating sales above $50 million, and some days saw sales generation above $100 million. There were two days when sales generation was higher than $200 million, and one day when sales crossed $300 million.
Overall, the single-day high of March 2022 was 65% higher than February 2022, 516% above January 2022, and an increase of 23% in the single-day high of March 2021.
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