MPs issue cryptocurrency fan token warning
Soccer teams have been warned against exploiting their fans through cryptocurrency fan tokens. MPs in the UK have warned sports teams that they ultimately risk damaging their reputations by selling the "one-of-a-kind" assets. Dame Caroline Dinenage, the chair of the Culture, Media and Sport committee, said: "Clubs are promoting volatile crypto-asset schemes to extract additional money from loyal supporters, often with promises of privileges and perks that fails to materialise." Kieran Maguire, a sports finance expert, has suggested that sports teams see NFTs as an "easy cash grab". He told the...