What is OG Fan Token (OG)?

Highlights

• OG Fan Token (OG) is a Europe based professional esports organization, best known for its Dota 2 team, winner of The International 2018 and 2019 tournaments.
• OG also has teams representing other games like Counter-Strike: Global Offensive (CS: GO) and Valorant. 
• It has 2,184,526 OG fans across the world, according to its website.

Why do sports draw fans to the games? Is it big names or the game itself? According to a research, the factor that fetches the fans is the game's suspense. Having said so, one such fan token has gained traction lately.

OG Fan Token (OG), traded at US$5:10 with a 4:19% gain on Monday at 4:40 am ET.

Let's first understand what a fan token is.

What are Fan tokens?

The fan tokens are the cryptocurrency where holders get the right over various fan-related membership benefits such as voting rights on club decisions, merchandise designs, rewards, and unique experiences. 

Sports clubs can use fan tokens, music fan clubs etc., to democratize and organize event experiences. The fan tokens are fungible, and these can be used for buying sports club merchandise, VIP experiences and much more. 

The point to note here is that any underlying value does not necessarily back the fan tokens, and the value determines the worth their fans bring to them. After the first fan token, 'Chiliz', there are many, including Manchester City Fan Token, AC Milan Fan Token etc.  

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What is OG fan token?

OG was formed in 2015 by Johan ‘n0tail’ Sundstein. Notably, it is not a football club but a professional esports organization in Europe.

The organization is best known for its Dota 2 team who won The International 2018 and 2019 tournaments.

OG garnered much attention after securing US$ 26.6 million in prize money, and became a famous esports brand in the world.

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OG also has teams representing other games like Counter-Strike: Global Offensive (CS: GO) and Valorant. 

OG is home to esports players with a passion for its multiple esports divisions. There are 2,184,526 OG fans across the world, according to its website. 

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How do Fan tokens work?

These days, in the crypto world, fan tokens are catching fans' attention as these give them a chance to be part of their favourite club and influence the decisions by voting in matters such as match locations, tour bus designs, ticketing matters etc.  

Through these tokens holdings, fans feel a sense of pride by direct involvement in the club they support. The fan community makes for an exclusive club where fans can show their loyalty by holding more fan tokens, and in return, they may also get the rewards.

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Price and Performance of OG:

Its current market capitalization is US$6.5 million. The token saw a rise of 316.56% in the 24 hours volume at US$146.7 million. OG's circulating supply is 1,274,535.00 OG, and the total supply is 5,000,000.

The token is available for purchase on Binance, Mandala Exchange, Bitcoiva, MEXC, and Pionex.

Bottom line

 The fan tokens are not like other cryptocurrencies intended to be used to solve some financial or technical problem, but these are created for fun 'by being a fan' and collecting rewards. 

The Crypto market is volatile; scams and rug pulls are not a new occurrence here. Hence the investor must be careful while leaping into the crypto market with their money.

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