Losing Penalty Shootout with Real Madrid, Manchester City Crypto Falls 17%

Liputan6.com, Jakarta – The price of crypto tokens belonging to the Manchester City club plummeted after the English club was defeated by Real Madrid in the UEFA Champions League, Thursday, April 18 2024.

Based on data from Coinmarketcap, Thursday, the Manchester City Fan Token crypto price weakened 17.81 percent in the last 24 hours and was trading at around IDR 53,566 per coin. Manchester City Fan Token trading volume was IDR 685.5 billion with a market capitalization of IDR 389.5 billion.

Manchester City Fan Token is a fan token from Socios.com an application built on the Chiliz (CHZ) blockchain. Socios has created fan tokens for several other football clubs, the most popular being (PSG), as well as fan tokens for UFC and auto racing.

Fan tokens give holders a stake in club governance by allowing them to influence decisions, unlock VIP rewards, and access to exclusive promotions, games, and special recognition.

Following the huge success of the launch of PSG in January 2020, Manchester City Football Club decided to launch CITY in March 2021. Its success mainly depends on the club's success on the pitch and the development of blockchain technology.

The price of the token soared when Cristiano Ronaldo reportedly joined the club, but declined after the transfer failed to take place.

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