Football (or soccer if you’re American) teams Paris Saint-Germain (PSG), FC Barcelona, and Inter Milan all progressed to the semi-finals of the UEFA Champions League last week. However, their official crypto fan tokens, which were launched with Chiliz, did not respond or move in any meaningful way following their respective teams’ progression in the most prestigious club football competition on the planet.
PSG and FC Barcelona progressed on Tuesday, April 15, and since then, their respective fan tokens, $PSG and $BAR, have increased by 0.5% and 0.6%, respectively. Meanwhile, Inter Milan advanced the following day, and the $INTER token has since declined by 1%.
It is worth noting that these marginal price moves are largely irrelevant, as fan tokens tend to trade with extremely thin liquidity, averaging just low-seven figures in daily volume. For further context, both the $PSG and $BAR tokens have similar market capitalizations of roughly $15 million, while the $INTER token sits at a $6.8 million market cap.
There is a 75% chance a team with a crypto fan token will win this year’s UEFA Champions League. Interestingly, the last time this happened was two years ago, when the English team Manchester City lifted the trophy in 2023. Notably, the $CITY token actually dropped by roughly 30% on the day of their victory.
For context, fan tokens of sports teams are cryptocurrencies launched in partnership with Chiliz via Socios that allow holders to engage in light governance decisions, access exclusive team experiences, and show digital support for their club. Though they often function more like branded loyalty points than investment-grade assets, as evidenced by their lack of responsiveness towards their teams in the last week.
This is an excerpt from The Block’s Data & Insights newsletter. Dig into the numbers making up the industry’s most thought-provoking trends.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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