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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)

    Citations

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    Cited by:

    1. Cavallaro, Matteo & Mathieu, Alban, 2024. "Beyond the veil: Mapping cryptocurrencies' ecosystem," International Review of Financial Analysis, Elsevier, vol. 94(C).
    2. Saggu, Aman & Ante, Lennart & Demir, Ender, 2024. "Anticipatory gains and event-driven losses in blockchain-based fan tokens: Evidence from the FIFA World Cup," Research in International Business and Finance, Elsevier, vol. 70(PA).
    3. Assaf, Ata & Demir, Ender & Ersan, Oguz, 2024. "Detecting and date-stamping bubbles in fan tokens," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 98-113.
    4. Lennart Ante & Benjamin Schellinger & Ender Demir, 2024. "The impact of football games and sporting performance on intra-day fan token returns," Journal of Business Economics, Springer, vol. 94(5), pages 813-850, July.
    5. Foglia, Matteo & Maci, Giampiero & Pacelli, Vincenzo, 2024. "FinTech and fan tokens: Understanding the risks spillover of digital asset investment," Research in International Business and Finance, Elsevier, vol. 68(C).
    6. Scharnowski, Matthias & Scharnowski, Stefan & Zimmermann, Lukas, 2023. "Fan tokens: Sports and speculation on the blockchain," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).

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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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