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The Surge In Popularity Of Football Club Cryptocurrencies

by THEFUTURE.TEAM

June 12, 2024

As the fervour for major football tournaments like Euro 2024 and Copa América rises, fan tokens issued by football clubs are becoming increasingly popular. These digital assets allow fans to engage with their teams in unique ways, such as voting on minor decisions, gaining early access to tickets, and receiving discounts on merchandise. The market value of Chiliz, a key player in this space, has grown significantly, and trading volumes for these tokens have surged. However, the speculative nature of these assets has drawn criticism and warnings about financial risks.

Market Dynamics

The market for fan tokens, such as those facilitated by the blockchain platform Socios, has seen substantial growth. The value of Chiliz’s cryptocurrency rose from $687 million at the beginning of the year to over $1.07 billion. This surge is reminiscent of the levels last seen during the 2022 World Cup, demonstrating a cyclical pattern of interest tied to major sporting events.

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Trading Volumes and Market Value

Trading volumes for fan tokens have spiked, reaching over $170 million on May 24, compared to $25-57 million for most of January. The total market value of fan tokens now stands at around $413 million. These tokens offer fans various benefits, such as participation in club-related decisions and exclusive rewards, making them appealing despite the inherent financial risks.

Benefits and Criticisms

Supporters praise fan tokens for their real-world utility, providing fans with a sense of ownership and influence within their favourite clubs. However, critics argue that these tokens can encourage financial speculation, potentially leading to economic losses for fans. The speculative nature of these assets has also raised concerns about their impact on the reputation of the football clubs involved.

Future Prospects

The future of fan tokens depends on balancing their utility as engagement tools with the speculative interests of investors. Clubs like Paris Saint-Germain and Watford FC are integrating these tokens into their operations, offering additional perks and even equity stakes through digital tokens. As the market for fan tokens evolves, it will be crucial to monitor how these dual aspects influence their adoption and long-term viability.

Egypt’s Suez Canal Economic Zone Draws $8.1B In Investments Through 255 Projects

by THEFUTURE.TEAM

February 4, 2025

Egypt’s Suez Canal Economic Zone (SCZone) has secured an impressive $8.1 billion in investments across 255 projects in the last 30 months, according to an official announcement on Monday.

Major Investment Boost For SCZone

The General Authority for the SCZone has successfully attracted 251 projects in its industrial zones and ports, accumulating $6.2 billion in capital investments, which has resulted in around 28,000 new jobs, as stated by SCZone Chairman Walid Gamal El-Din.

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Additionally, four new projects have brought in $1.8 billion in investments, boosting the total capital inflows within the zone. These developments were discussed in a meeting with Mohamed Zaki El Sewedy, Chairman of the Federation of Egyptian Industries (FEI), and other officials from various chambers of commerce.

Strengthening Industrial Ties And Opportunities

The meeting focused on expanding investment prospects, fostering collaboration, and addressing challenges faced by industrial firms with strong export potential. A key objective was to encourage businesses to scale up their operations within the SCZone, leveraging its prime location, advanced infrastructure, and investor-friendly policies.

El-Din stressed the importance of the SCZone in driving Egypt’s economic growth and industrial transformation, citing the Ain Sokhna Integrated Industrial Zone as a flagship example of development. This zone is a testament to Egypt’s growing presence as a competitive global manufacturing hub.

The continued partnership between the SCZone and the private sector, El-Din noted, plays a pivotal role in building a strong ‘Made in Egypt’ brand, supporting local industrial development, and boosting innovation to improve Egypt’s position in global markets.

Acknowledging Achievements And Future Collaboration

El Sewedy praised the SCZone for its efforts in creating a robust investment climate, offering comprehensive services, incentives, and cutting-edge infrastructure. This meeting marked the beginning of a deeper collaboration between the SCZone and FEI, setting the stage for future joint initiatives.

Egypt’s Economic Outlook

Egypt’s economy is projected to grow by 4% in the year leading up to June, bolstered by supportive measures from the IMF, according to a Reuters poll conducted in January 2025. The poll also forecasts a GDP growth acceleration to 4.7% in 2025-26 and 5% in 2026-27.

However, the country’s GDP growth slowed to 2.4% in 2023-24, down from 3.8% in the previous year, primarily due to the ongoing currency crisis and the geopolitical impact of the war in neighboring Gaza, according to the Central Bank of Egypt.