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Digital assets - sports.
A fan token is a digital asset relating to a sports team, granting the holder preferential experiences, merchandising options and potentially voting rights in selected corporate decisions.
- Non-sports fan tokens
- "... given the evident revenue and marketing potential, why should fan tokens remain the exclusive preserve of sports corporations? Couldn’t any type of company get in on the action?
- One business that has taken a keen interest in fan tokens is New Delhi-based TMT Law Practice – which, in March, published a detailed overview of the market from a legal perspective.
- In TMT’s view, it is important to consider fan tokens within the broader context of ‘utility tokens’: crypto products that are designated with certain specific use cases by the companies that issue them.
- 'Contemporarily,' the firm says, 'fan tokens are associated primarily with the sports industry. However, other industries – such as media and entertainment – are already exploring opportunities to make use of them.'
- In TMT’s assessment, other industries that may benefit from exploring opportunities in the fan tokens market include fashion and apparel, food and beverages, fine arts, merchandising, stationery, performing arts and consumer technology.”
- The Treasurer online - 6 May 2022.