
NFTs are 'one-of-a-kind' assets in the digital world that can be traded, but have no tangible form of their own.
Digital fan tokens can be considered as a certificate of ownership for virtual or physical assets. One of the perks of owning them can give fans access to certain privileges, such as voting in fan polls or getting access to ticket ballots.
Some of them, like an NFT, can be traded, but that means their value can vary widely, with the possibility of gaining or losing a lot of money.
During and after the pandemic, NFTs enjoyed a period of considerable popularity - and soaring prices, with people and businesses encouraged to create them, but MPs say their fluctuating prices are troubling.
It also expressed concerns about the rise of crypto assets in the arts, with Dame Caroline saying artists are at risk of seeing the fruits of their hard work pinched and promoted without permission.
NFTs are a popular way to sell and create digital art on blockchains - the digital ledgers that underpinning crypto transactions - but do not give the buyer the actual artwork or the copyright attached.
How do fan tokens work?
Some fan tokens can be bought and sold on a market - but the value of these tokens has fallen significantly since their peak a few years ago.
A recent Socios partnership with Spurspur sparked backlash from fans, who said that fan engagement with the club should not cost money and pointed out the risks of losing money by buying cryptocurrency.
Mr Maguire, who chairs the Democratic Party's Committee of Arbitration, said: 'It is a privilege to be able to honour the responsibilities of the chairman of the United States of America.