Belgium Fan Token
BELG
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
BELG is the official fan token of the Royal Belgian Football Association, issued in partnership with Chiliz and Socios.com. The project demonstrates credible institutional backing from registered corporate entities in Switzerland and the US, alongside MiCA-aligned documentation and a clean operational track record with zero smart contract exploits, legal proceedings, or delistings. However, the token suffers from fundamental structural weaknesses common to fan tokens: it operates on a closed-source, centralized architecture without open-source repositories or on-chain governance, has platform-locked utility limited to non-binding polls and rewards, and exhibits discretionary tokenomics with no public vesting schedules. Furthermore, BELG lacks named third-party security audits and suffers from an unrecovered -85% drawdown from its all-time high with thin, concentrated liquidity. Note: The Community Support section scored -1.0 due to a lack of verifiable engagement and activity metrics, which was excluded from the weighted average scoring calculation.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Belgium Fan Token (BELG)
Belgium Fan Token (BELG) is the official sports fan token of the Royal Belgian Football Association, launched in partnership with Chiliz and integrated into the Socios.com ecosystem. Issued by Fan Token Management AG (Switzerland) and Fan Token Management, Inc. (United States), the token is deployed primarily on Chiliz Chain. BELG provides fan engagement functionality within the Socios.com mobile application, enabling holders to take part in non-binding interactive polls, access gamified features, and qualify for promotional rewards.
The project features a total supply capped at 20,000,000 BELG, with approximately 21% in initial circulation following its June 2026 distribution. Token utility is confined to the Socios.com platform and does not confer equity, ownership, or on-chain governance rights to holders. The token utilizes a centralized mint-and-burn mechanism that includes performance-linked burning events, such as an on-chain burn of 869,890 BELG executed in July 2026 tied to the national team's tournament results. The project functions without a public open-source software repository or decentralized autonomous organization (DAO).
BELG is subject to notable operational, security, and market risks. After reaching an all-time high of $0.6895 in June 2026, the token experienced an unrecovered price crash of approximately 85%, falling to an all-time low of $0.09789 in August 2026 following tournament-related hype decay. Trading liquidity remains thin and heavily concentrated on a limited number of venues, predominantly Paribu. Furthermore, while the project's documentation asserts regulatory compliance under MiCA disclosures and claims smart contracts underwent internal testing, no named third-party security audit reports or attestations have been publicly published. Unvested token allocations and treasury reserves remain under the unilateral control of the issuer without public vesting schedules.