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Learning & News => News related to Crypto => Topic started by: sirty143 on April 19, 2024, 04:09:46 AM

Title: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: sirty143 on April 19, 2024, 04:09:46 AM
PSG Token Soars After Paris Saint-Germain Defeats Barcelona; CITY Dips Following Elimination of English Champions

The value of the fan token for the French football club, Paris Saint-Germain, briefly surged from just over $4.30 to $5 after they knocked the Spanish football giants, FC Barcelona, out of the UEFA Champions League. However, the token for the English champions... See more for yourself here (https://news.bitcoin.com/psg-token-soars-after-paris-saint-germain-defeats-barcelona-city-dips-following-elimination-of-english-champions/).

Your opinion is greatly appreciated.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: yhiaali3 on April 19, 2024, 05:32:20 AM
Although I am not a big fan of sports, Paris Saint-Germain's victory over Barcelona was somewhat surprising to me. I did not care much about the news, but my children, Barcelona fans, were very saddened by this harsh loss.

In any case, the PSG token naturally increased after this big win, and the Barcelona BAR token also decreased after their loss. I expect that it is all related to betting and applications that use these tokens to bet on the outcome of the matches.

It is certain that the PSG token will continue to rise after every victory for Paris Saint-Germain, so it will be a good opportunity for the holders of this token.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: Z-tight on April 19, 2024, 07:06:09 AM
I don't think anyone is interested in fan tokens, other than the fans of the respective clubs, as it gives them the opportunity to vote on club matters and some club decisions. I believe the fan tokens can also be used to purchase things from the club as well, like club jerseys and match tickets, i don't think people are buying it to make any profit, it is simply to show support for their clubs.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: Zed0X on April 20, 2024, 02:40:11 PM
I already forgot these teams actually have NFTs of their own ;D That's really an interesting way to speculate on the price of their tokens. In a lot of ways, you could even consider it gambling on the match results. There's no need to look at the token utility.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: Captain Corporate on April 20, 2024, 03:28:56 PM
These type of stuff never really made sense to me. What does these token owners earn from Barcelona losing to PSG? I get that you could be a fan and you want some official token, nothing for investment purposes, like having their hat or jersey or something, you do not get the latest Mbappe jersey because of investment, you do it because you are a fan, tokens make sense in that regard. But that has nothing to do with PSG beating Barcelona, it never made sense anyway, and all these "reward programme" type of stuff never really felt like real to me neither, probably someone within the clubs owners and family etc etc gets it.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: Rruchi man on April 20, 2024, 03:31:48 PM
Quote from: sirty143 on April 19, 2024, 04:09:46 AM
Your opinion is greatly appreciated.
This can be an investment opportunity for some people to make a profit from the games instead of sports betting, but it is not without it's risk. If an investor will make a profit from this, they have to have invested before PSG knocked out Barcelona, or will have to invest before PSG plays against Dortmund.  If the tokens soared in the value due to the victory over Barcelona, it will also increase in value if PSG find their way to the finals.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: Z-tight on April 20, 2024, 11:18:26 PM
Quote from: Rruchi man on April 20, 2024, 03:31:48 PM
This can be an investment opportunity for some people to make a profit from the games instead of sports betting, but it is not without it's risk.
I don't think too many people take these fan tokens as investment opportunities, if you are looking to invest, there are so many coins to choose from and not a token of a football club. I think it is real fans of the club who buy these tokens, as being a holder can earn you some amazing rewards from the club, which could be attractive to a lot of people.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: hugeblack on April 21, 2024, 10:03:45 AM

Are these tokens legal and circulated because I remember a while ago that it was being listed in Binance and then was suspended due to some legal procedures.
In any case, these differences are supported by promises and there is no real value for them, so the long -term investment means realized losses. It is better to deal with sports events in the framework of entertainment, not gambling and token trading.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: Power420 on April 21, 2024, 05:57:51 PM
The price and traded volume of a fan token from the French football club, Paris Saint-Germain (PSG), surged shortly after the team advanced to the semi-finals of the Union of European Football Associations (UEFA) Champions League. The token, also named PSG, traded at just over $4.30 on April 16 and spiked to just above $5 moments after French striker Kylian Mbappe led his team to a 4-1 victory over Spanish giants, FC Barcelona.
Source Link: https://news.bitcoin.com/psg-token-soars-after-paris-saint-germain-defeats-barcelona-city-dips-following-elimination-of-english-champions/
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: Stompix on April 21, 2024, 06:40:40 PM
Quote from: Captain Corporate on April 20, 2024, 03:28:56 PM
These type of stuff never really made sense to me. What does these token owners earn from Barcelona losing to PSG?

Bragging rights!
In theory, there was more, like if you would have a real vote on what that team does from colors of equipment to transfers those would have been worth a thing for a team winning a cup but at this point, it works just as trump coins do, once there is a good poll they go up, he makes a mistake they go down and it's not like they will be triple in the price for economic reasons if he wins the elections.

The thing with those tokens or NFT is to stop wondering how much they are worth to you and more about how much somebody is willing to pay for one!

Quote from: hugeblack on April 21, 2024, 10:03:45 AM
Are these tokens legal and circulated because I remember a while ago that it was being listed in Binance and then was suspended due to some legal procedures.

The ones built on socios are
https://www.psg.fr/fans/psg-fan-token
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: Z-tight on April 23, 2024, 11:27:16 PM
Quote from: hugeblack on April 21, 2024, 10:03:45 AM
It is better to deal with sports events in the framework of entertainment, not gambling and token trading.
I don't think people are gambling with these fan tokens, and it should still be 'entertainment' for the true fans, as it gives them opportunity to vote on some of their club's decisions, and i also think they can pay for club items or tickets with these tokens. There are better tokens and coins for people to trade and gamble with.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: Faisal2202 on April 27, 2024, 03:36:19 PM
Well, I did not remember that  Saint-Germain had their own token well thanks for reminding me, and I know I am replying late but considering that timestamp, I would say the win of Saint-Germain would not be the only factor causing an increment in the price of PSG token. Because that time many alts were also pumping and dumping, and the news was just before the halving event, when BTC was dumping as well as alts too but some were showing opposite reactions.

Well, considering these I would say win has a bigger impact and other factors have a small impact on the increment of the PSG price. Its good that football teams have started to make their own crypto tokens as if a club has a fan following then they can easily get a lot of trading volume without spending thousands on advertising and other stuff.
Title: Re: PSG Token Soars After Paris Saint-Germain Defeats Barcelona
Post by: trendcoin on April 27, 2024, 09:04:04 PM
I wish fan tokens were directly indexed to sporting results. If they were always consistent, they would attract more investor interest. As it is, they are no different from normal tokens. Investing in any token is not better than investing in Bitcoin or Ethereum. Fan tokens are not the right address for investors in their current state. I wish they would have more interactive programs and try to build audiences willing to buy fan tokens.