FNG Exclusive… FNG has learned that CySEC licensed Retail FX and CFDs broker Skilling has launched CFD trading on Fan Tokens. In a social media post, Skilling CEO Michael Kamerman noted that its offering is a first for the CFD trading industry.
Fan Tokens are a type of cryptocurrency, specifically a type of non-fungible token (NFT). Created by Socios.com, Fan Tokens are issued by popular sports clubs (to now, mainly top European soccer teams) and allow holders to vote on mostly minor decisions related to their clubs. They also come with promised special team-related rewards and prizes. Essentially, Fan Tokens are a way to give fans a way to trade on the popularity of sports teams, without having actual ownership that would come with “real” shares in the team.
Fan Tokens have been issued by clubs including Barcelona, PSG, AC Milan, Juventus, and Atletico Madrid. Some of the issued Fan Tokens have been subject to wild price swings and large bid-ask spreads. For example, PSG’s fan token surged more than 50% last month when rumors of Lionel Messi’s joining the club first surfaced.