The cryptoverse is awash with digital assets providing unique offerings. After Bitcoin and native tokens like Ether, a late addition is fan tokens. As the name suggests, these tokens are targeted specifically at fans of sportspersons, clubs, and so on.
As of writing, Bitcoin is back to under US$31,000 level, with an over 35% year-to-date (YTD) loss. ETH is faring even worse this year, having lost more than half its value. This could be one driving force that can take crypto enthusiasts towards other altcoins. Fan tokens are an emerging class within altcoins, although they can exhibit the same volatility as Bitcoin or ETH.
On that note, let us take a look at the AS Roma Fan Token, which has registered over 40% gains over the past 24 hours.
What is AS Roma Fan token?
The token is primarily meant for the fans of the football club AS Roma, usually called Roma. Launched by Socios.com, this fan token trades on crypto exchanges under the ticker ASR.
The Social.com platform claims that ASR holders can impact the decisions of Roma club. These include the official motto of the team, design of the kit, and so on. It is also said that the number of tokens held by any fan decides how heavily they can influence the voting results. The tokens can be used to participate in all proposals, with the ASR token having no expiry date, it is claimed.
Token holders can also win rewards in the form of meeting with Roma players, merchandise, and access to sports facilities like Stadio Olimpico in Rome.
Also read: What’s weighing on THORChain’s RUNE crypto?
ASR token price
ASR is yet to become a large cap altcoin like ETH or SHIB. As of writing, the ASR token had a market cap of over US$8 million, making it one of the top 1,000 cryptos.
What’s impressive is the token’s 24-hour trading volume. As of writing, it is more than US$100 million, thanks to over 400% jump over the past one day. This has also reflected in the token’s price, which has soared over 40% during the same period.
The AS Roma Fan token price is currently near US$4, having reached even US$6 of late, but for a very brief moment. The token started this year at a price of US$4 but fell under US$2 in mid-May.
Also read: AVT token up over 100%: What’s propelling Aventus crypto?
Data provided by CoinMarketCap.com
Bottom line
At a time when major altcoins like ETH and SHIB are in the red, the ASR fan token price is rising. The token can be used by Roma fans to vote on the club’s decisions like motto and kit design.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
