Football fans have bought more than $350 million in team tokens according to an analytical report commissioned by BBC News.
According to the study, 24 soccer clubs have launched fan tokens or are considering the possibility of doing so. Among them, eight teams play in the English Premier League.
Most of these clubs issue tokens through the Socios platform. The company has said that it has sold around $300 million worth of coins through its own app.
The highest popularity was for the tokens of Italian Lazio, English Manchester City, Portuguese Porto and Brazilian Santos.
The company analysts believe the main goal of most buyers of such coins is speculation.
Socios has teamed up with the soccer clubs PSG, Juventus, West Ham United, Atlético, Barcelona, Milan, Inter and Arsenal, as well as the national teams of Portugal and Argentina.