Are Fan Tokens Fan Tokens?

Demir, Ender; Ersan, Oğuz; Popesko, Boris

doi:10.1016/j.frl.2022.102736

Cited by 29 publications

(18 citation statements)

References 20 publications

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“…Fans receive rewards and have buy-in on some club decisions; likewise, teams receive a share of the sales (Socios, 2023;Vidal-Tomas, 2023). Demir et al (2022) explore the relationship between soccer team performance and fan token pricing, finding that losses have a negative effect on the abnormal returns in fan tokens. Ersan et al (2022) examine the connectedness of fan tokens and stock for four prominent European soccer clubs, concluding that the two asset classes are largely independent of each other, with connectedness decreasing over time.…”

Section: Digital Tokensmentioning

confidence: 99%

Implementing trades of the National Football League Draft on blockchain smart contracts

Fukuzawa,

McConnell,

Kay

et al. 2024

IJSMS

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PurposeDemonstrate proof-of-concept for conducting NFL Draft trades on a blockchain network using smart contracts.Design/methodology/approachUsing Ethereum smart contracts, the authors model several types of draft trades between teams. An example scenario is used to demonstrate contract interaction and draft results.FindingsThe authors show the feasibility of conducting draft-day trades using smart contracts. The entire negotiation process, including side deals, can be conducted digitally.Research limitations/implicationsFurther work is required to incorporate the full-scale depth required to integrate the draft trading process into a decentralized user platform and experience.Practical implicationsCutting time for the trade negotiation process buys decision time for team decision-makers. Gains are also made with accuracy and cost.Social implicationsFull-scale adoption may find resistance due to the level of fan involvement; the draft has evolved into an interactive experience for both fans and teams.Originality/valueThis research demonstrates the new application of smart contracts in the inter-section of sports management and blockchain technology.

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Section: Digital Tokensmentioning

confidence: 99%

Implementing trades of the National Football League Draft on blockchain smart contracts

Fukuzawa,

McConnell,

Kay

et al. 2024

IJSMS

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“…In the digital transformation of marketing, tools created with virtual assets have been shown to contribute to customer-citizen behavior. Demir et al (2022) studied whether Fan Token price movements are affected by sporting success or not. They concluded that while seeing the impact of major international tournament results, local successes did not significantly affect prices, and that losses were more effective than gains.…”

Section: Literature Reviewmentioning

confidence: 99%

The Relationship Between Fan Tokens and Cryptocurrencies: An Empirical Evidence

DEMİR

Aktaş

2022

Uluslararası İktisadi Ve İdari İncelemeler Dergisi

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Son yıllarda kripto varlıkların tüm dünya genelinde giderek popülerleşmesi sonucu her geçen gün artan sayıda yenilikçi kripto varlıklar piyasaya çıkmaktadır. Bir “utility token” türü olan Fan Tokenlar da bu kapsamda öne çıkan bir kripto varlık olarak ele alınmıştır. Kripto para ve spor sektöründeki gelişmeler fan tokenlara olan ilgiyi her geçen gün arttırmakta olduğundan sistemin finansal hacmi de sürekli olarak büyümektedir. Büyüyen hacimle birlikte Fan Token satın alanların aldıkları riskler artmaktadır. Literatürde kripto varlıkların risklerine dair çalışmalar bulunmakla birlikte Fan Tokenlar özelinde konu ele alınmadığından tarafımızca incelenmeye değer görülmüştür. Fan Tokenların fiyat hareketleri ile başat kripto varlıkların hareketlerinin arasındaki ilişki irdelenmiştir. Araştırmada yapılan regresyon ve korelasyon analizleri ile kriptopara borsalarındaki hareketlerin, Fan Token borsaları üzerinde etkiye sahip olduğu tespit edilmiştir. Bu nedenle Fan Token alım satım işlemlerinde kriptopara borsalarındaki gelişmelerin özellikle ve dikkatle takip edilmesi gerektiği sonucuna ulaşılmıştır.

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“…They observed that these two asset classes are independent of each other, with a decreasing connectedness over time. Demir et al . (2022) assessed the impact of football match results on token prices of the clubs.…”

Section: Introductionmentioning

confidence: 99%

“…They observed that these two asset classes are independent of each other, with a decreasing connectedness over time. Demir et al (2022) assessed the impact of football match results on token prices of the clubs. Their results showed that fan token prices are affected by football clubs' match results, especially during matches in the Union of European Football Association (UEFA) Champions League tournament.…”

Section: Introductionmentioning

confidence: 99%

Blockchain, sport and fan tokens

Vidal-Tomás

2023

JES

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PurposeThis paper provides a thorough examination of Socios.com, a blockchain platform that integrates token sales with the fan experience in the sports industry. The study focuses on three key aspects: the performance, bubble phenomenon and dynamics of fan tokens. The author aims to address important questions that may concern potential supporters and investors. Might sports fans incur financial losses due to their team loyalty? Is the fan token market just a passing trend? Are fan tokens driven by the behaviour of the cryptocurrency market?Design/methodology/approachThis analysis aims to involve several methodologies. The author evaluates the short- and long-term performance of fan tokens by computing first-day and buy-and-hold (abnormal) returns. The author also employs the Phillips, Shi, and Yu's (PSY) real-time bubble detection method to investigate the presence of bubble phenomenon in the fan token market segment. Finally, the author examines the potential dependences between fan tokens, Chiliz and the cryptocurrency market (represented by the CCi30 index) using both Pearson/Kendall correlations and the wavelet coherence approach.FindingsThe study presents three notable contributions to the existing literature. First, the author demonstrates that investing in fan tokens to support one's favourite sports teams can lead to financial losses, whereas traders can potentially outperform the market by investing in Chiliz. Second, the author states that fan tokens were a short-lived trend, as evidenced by their decline in value after the bubble burst in 2021. Third, the findings indicate that the fan token market was influenced by the cryptocurrency market and Chiliz during periods of market downturns.Originality/valueTo the best of author’s knowledge, this is the first paper to conduct a comprehensive analysis of the performance, bubble phenomenon and dynamics of the token market fan segment, along with the exclusive on-platform currency, Chiliz.

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Are Fan Tokens Fan Tokens?

Cited by 29 publications

References 20 publications

Implementing trades of the National Football League Draft on blockchain smart contracts

Implementing trades of the National Football League Draft on blockchain smart contracts

The Relationship Between Fan Tokens and Cryptocurrencies: An Empirical Evidence

Blockchain, sport and fan tokens

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