Finance Expert: Rangers and Fans token took the biggest fall in value of any club in 2023

Finance Expert: Rangers and Fans token took the biggest fall in value of any club in 2023

Dan Plumley has underlined that there are still hazards in the fan token market,

following the revelation that the Rangers token had the greatest drop in value of any club in 2023.

According to the Scottish Sun, any fan who invested in cryptocurrency tokens had their money decline by more than 46% following a CoinLedger analysis.

Plumley admitted that there are still potential within the market,

but there are currently too many hazards involved that can affect the club and its fans at Ibrox.

“There are still risks within the fan token market,” the football financial specialist told Ibrox News exclusively.

“There are still prospects there, for sure, and it may be something that evolves in the future but the risks are clear at the minute for both the club and for the fans as well that are buying into these schemes.

“Challenges around what it really looks like, challenges around what the benefits are for people who buy them,

the legislation side of it, and football has a lot of governance issues that it is dealing with right now that are higher on the priority list, but it certainly warrants another look later on.

“I’m not one for saying there won’t be any opportunity in that space, but at the minute,

there is still too much risk in some of those types of profiles and that can hurt both the club and the fans ultimately in this case.”

Rangers and cryptocurrency at Ibrox.

This is not the first time that this market has failed to pay off in Govan,

as NFT startup Sportemon Go halted operations after agreeing to become shirt sponsors in 2022.

James Bisgrove has always been very successful on a commercial level, bringing more money into Ibrox.

While this plan has yet to take off, it might alter at any time.

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