Starting from the quarter-finals, many digital tokens of the four teams still in the European competition will disappear from circulation, so as to increase the “specific weight” of the remaining ones
Until now, the value of each fan token essentially depended on market fluctuations: the more users buy digital tokens, the higher the price rises and vice versa. Basically this oscillation was the result of various factors, from the success of individual initiatives to that of the team that inflames or attenuates the enthusiasm of the fans, up to obviously the value of the cryptocurrency chiliz from which one must “pass” to buy tokens. From today, the starting day of the Champions League quarter-finals, this mechanism will undergo further conditioning. With each goal and passage of the round in the competition, a large amount of digital tokens will in fact be “burned”, they will disappear from circulation. The remaining ones will thus become rarer and, therefore, more valuable.
How does it work
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In addition to Benfica whose tokens are not yet on the market despite the official agreement with the platform, Socios boasts four teams among the best eight in Europe, three of which are Italian: Inter, Milan, Naples and Manchester City. The platform has therefore chosen to link the results of these trainings to the process of “incineration” of the tokens. There are 20 million digital tokens in the world for each of the clubs mentioned, with the exception of Napoli, half of which were “conceived”. For each goal in the Champions League, 10,000 tokens of the respective team will be burned (5,000 for the Neapolitans), twice as much will disappear when the round passes. Obviously, tokens that do not belong to any user will be involved, while the availability of those on the market will be increasingly limited: the consequence is that the more a formation makes its way in Europe, the more the relative community becomes potentially “rich”, by extension. And if someone wanted to buy the tokens of the champion team in the summer, they would risk having to knock on those who already hold them, with a consequent increase in the price.
April 11 – 18:09
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