After Socios partnered with UEFA for NFT tokens, FC Barcelona and AS Roma fan tokens rallied.

After the Socios fan token platform teamed with UEFA to deliver NFTs and other redeemable rewards to European soccer fans, ASR, BAR, and ACM saw double-digit gains.

NFT tokens (NFTs) are becoming more popular as the technology’s potential applications in industries ranging from sports entertainment to real estate become clearer.

Fan token initiatives — protocols that allow token holders to participate in the governance of their favorite sports companies and get customized NFTs and other unique redeemable — are one subsector of this market that saw a surge in popularity on Monday.

FC Barcelona Fan Token (BAR), AS Roma Fan Token (ASR), and Atletico De Madrid Fan Token (ATM), all Chilliz protocol fan tokens, were the three most significant gainers over the last 24 hours, according to data from Cointelegraph Markets Pro and TradingView.

A deal between Socios and the Union of European Football Associations (UEFA) increased attention on soccer as World Cup qualifying matches occurred. The popularity of NFT tokens combined with the most-watched sport on the planet are three reasons for the increase in the price of these fan tokens.

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UEFA Collaboration

One driver of the current rally could be a newly announced relationship between UEFA, the regulatory body for European soccer, and Socios, a protocol that concentrates on generating fan NFT tokens.

Socios becomes the regional sponsor for the Champions League, UEFA’s most well-known competition, which is currently committed through 2024.

Fan token holders from clubs competing in the Champions League, Europa League, and Europa Conference League will receive free fan tokens due to this agreement. As long as they keep their tokens on the Socios app, club supporters with fan tokens have can win VIP experiences or free NFTs that drop during live gameplay.