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Blockchain, sport and fan tokens

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  • Vidal-Tomás, David

Abstract

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.

Suggested Citation

  • Vidal-Tomás, David, 2022. "Blockchain, sport and fan tokens," MPRA Paper 111350, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:111350
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    References listed on IDEAS

    as
    1. Rua, António & Nunes, Luís C., 2009. "International comovement of stock market returns: A wavelet analysis," Journal of Empirical Finance, Elsevier, vol. 16(4), pages 632-639, September.
    2. Tomaso Aste, 2019. "Cryptocurrency market structure: connecting emotions and economics," Papers 1903.00472, arXiv.org.
    3. Tomaso Aste, 2019. "Cryptocurrency market structure: connecting emotions and economics," Digital Finance, Springer, vol. 1(1), pages 5-21, November.
    4. Vidal-Tomás, David, 2021. "The entry and exit dynamics of the cryptocurrency market," Research in International Business and Finance, Elsevier, vol. 58(C).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Chiliz; Fan token; Cryptocurrency; Sport; Diversification;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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    This paper has been announced in the following NEP Reports:

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