Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 31, 2022 erstellt
Description:
This paper investigates the emerging segment of the cryptocurrency market related to football fan tokens (FFT) – digital assets used for engagement with professional football clubs around the world. More specifically, we study investability of FFT from the perspective of risk and performance. We find that FFT generate a whopping 150% return on the first-trading-day. However, in the long-term FFT severely underperform all major crypto benchmarks including NFT, DeFi, Meme, and Bitcoin. Moreover, the return to FFT tends to be highly volatile (160% annualized). Intriguingly, we find that the real-life performance of football teams does not affect market performance of their FFTs