Corinthians fan token generates BRL 17 million in volume in the Bitcoin Market

On the first day of listing the Corinthians fan token on the Bitcoin Market, the trading volume of the asset exceeded R$17 million. The $SCCP unit (name given to the product created exclusively for the Parque São Jorge club) was initially sold on the market at a price of R$ 10.50 and is now being quoted at approximately R$ 16.50.

“We expected a large volume of trading, but the volume ended up being much higher than we expected,” explained Reinaldo Rabelo, CEO of Mercado Bitcoin. “Given the level of negotiation that we saw today, we believe that the Corinthians token will maintain an expressive volume of negotiation for a long time”, concluded the executive of the new sponsor of Alvinegro.

According to the Bitcoin Market, the Corinthians fan token represented more than 25% of all transactions yesterday on the platform, which, in addition to cryptocurrencies, also offers assets from other clubs, such as Barcelona, ​​Juventus, PSG, Roma, Milan and Manchester City. Altogether, more than 10,000 users operated on the platform and traded the $SCCP — all resident in Brazil.

The more than R$17 million moved represent the volume of purchase and sale of the asset in the Bitcoin Market, which ends up being an indicator of the variation in the price of the fan token. This amount is not related to the amount collected by Corinthians from the sale of the digital asset.

On the day that released the 850,000 $SCCP on the market, fans from more than 150 countries sold out the asset on the same day, which generated a collection of R$ 8.79 million. Corinthians did not disclose its percentage in the agreement, but it is estimated that Alvinegro has pocketed 50% of the amount.

In possession of the fan token, Corinthians fans can make some decisions in the club. The first one is the choice of the new bronze bust of Parque São Jorge. The options offered by Alvinegro’s board are Ronaldo Fenômeno, Gilmar dos Santos Neves and Basílio.