OG Becomes First Esports Fan Token to Reach $100M Market Cap

OG Esports has become the first Esports team to have its blockchain-based fan token reach a market cap of $100 million, achieving a new all-time high in the process.

OG was the first Esports team in the world to launch an official fan token on the Chiliz blockchain in 2019, enabling fans to interact with the team via the Socios app.

Since then, the $OG Fan Token has been the gateway for OG’s millions of fans to take part in exclusive polls, allowing them to have their say on major decisions impacting the OG team. In return for their interaction, fans gain the chance to earn exclusive rewards and experiences.

This summer saw the $OG Fan Token ascend to heights never seen before, becoming one of the most successful sports fan tokens among major sporting institutions such as Barcelona, Manchester City, PSG, Alpine F1, and more.

$OG Fan Token Hits $100M Market Cap & New All-Time High

The OG Fan Token ($OG) has been on the rise all summer, and has seen its value increase by 520% since its surge began on June 18. 

In that time, the value of the $OG token climbed from a valuation of $3.79 up to an all-time high of $23.64. It should be noted that the token’s valuation is still climbing at time of writing. 

It was this summer surge that sent the token’s fully-diluted market cap to $100 million.

Founder and CEO of Chiliz and Socios, Alexander Dreyfus, celebrated OG’s ascension on X on Tuesday morning, stating:

“Glad to see @OGesports to be the first esports team to reach $100M $OG Fully Diluted Value (FDV) (powered by @chiliz & @socios).”

At the time of OG’s launch on the Chiliz blockchain and Socios app, CEO of OG, Johan “n0tail” Sundstein, said:

“Socios.com is an exciting and innovative way for us to offer our fans new experiences, a means to engage with the team they love, and a part to play in the decision-making process of the club. We are proud to be the first esports partner of Socios.com in shaping the future of entertainment…”

OG is one of the most successful and best-known Esports teams in the world. The team boasts over 1.8 million followers on Facebook, and over 1.3 million followers on Twitter. 

The $OG Fan Token is traded on numerous major exchanges, including Binance, HTX, MEXC, BitGet, Gate, and more. 

Greg Thomson: Fan Tokens Market Reporter