Crypto Assets in Brazilian Soccer: a Study on Fan Tokens

Objective: Investigate the actions and the development of fan tokens in Brazilian football. Theoretical Framework: Created as a response to the fiduciary monetary system and conceived as an alternative to mitigate currency depreciation and the consequent erosion of citizens’ purchasing power, cryptoassets have become an established reality in the contemporary world. They have increasingly expanded their presence in society, generating socioeconomic impacts and influencing the sports sector. Method: The methodological approach was documentary research. Data collection, conducted on November 9, 2025, relied on the CoinMarketCap price monitoring platform, using the Category filter followed by Sports. A total of 122 projects were identified among more than 26,000 listed cryptocurrencies. After applying the inclusion and exclusion criteria, five (5) of these presented adequate information for analysis. Results and Discussion: The results indicate fan tokens associated with the brands Chiliz, Flamengo, Corinthians, Atlético Mineiro and São Paulo. The discussion highlights strategies for interaction and activations directed at supporters, the adoption of emerging technologies, and the business model currently employed by Brazilian football clubs. Research Implications: The practical implications relate to the analysis and subsequent enhancement of the business model of fan tokens, emphasizing the need for actions that promote their appreciation, expand their market penetration in Brazil and reinforce protection mechanisms for supporter investors facing insolvency risks. Originality/Value: The theoretical and methodological contributions of this research support a broader understanding of cryptoassets and their development, demonstrating their impacts on sport, particularly Brazilian football.