Fan Tokens — the verified tape
Fan Tokens are utility instruments — app votes and rewards under the US 2026 collectible guidance, never equity, dividends or governance. This tape prints only tokens we can match to the official Socios/Chiliz register.
Registry-verified · tap a row
Fan-token tape
Prices: volume-weighted mid across Binance, OKX, Gate and KuCoin — whichever venues answered for that pair. On-chain columns (holders, 24h transfers) come from Routescan for the 0 of 20 rows with a frozen CC2 contract; crests: CoinGecko. Re-checks every 30s · PLAY = mint/burn seen on Chiliz Chain
Source: CoinGecko fan-token category, matched against the official register. 10 unmatched category tokens excluded (PORTO, LAZIO, FIGHT, FB, ASM, AVL…). The long tail beyond this table is largely illiquid — a catalog is not liquidity.
The honest market state
What the fan-token economy actually is
- $CHZ trades ~98% below its 2021 peak.The 2026 World Cup — the biggest event in the token's life — did not bid the price: CHZ fell ~47% in the 30 days into the tournament.
- The World Cup burn experiment taught the real lesson.“Burn to Glory” burned treasurytokens on results (Spain's QF run ≈ 1.16M SPAIN). Treasury burns ≠ circulating squeeze — float barely moved, prices sold off anyway.
- The real sports-on-chain flow was prediction markets.Polymarket's World Cup winner market did ~$1.6B before kickoff — an order of magnitude more than every fan token combined.
- Concentration is the structure.On-chain, official fan tokens sit 92–99% in ten wallets (exchange custody + treasuries) — see the live concentration column on the chain desk.
Taxonomy
The four-layer model
Every instrument on this desk is read on four layers — a Fan Token and a tokenized club share can sit on the same chain and be completely different claims:
| Layer | Question | Sports example | Equities example |
|---|---|---|---|
| 1 · Underlying | What exists off-chain? | Club, league, event rights, (future) minority equity | Share, T-bill, gold bar |
| 2 · Legal wrapper | What is the claim? | Fan Token = utility licence · Equity Token = security | Fund / SPV / structured note |
| 3 · Token standard | How is it recorded? | CAP-20 on Chiliz + LayerZero OFT on Solana & Base | ERC-20, SPL, ERC-3643 |
| 4 · Venue | Where does price form? | Socios book · CEXes · FanX/Kayen · Jupiter | Ondo, xStocks DEX, DLT-TSS |
Chiliz matters because it is crossing from layer-2 utility into layer-2 securities — the story continues on the equity watch.
