There’s a crypto coin called Giresunspor Token (GRS)-and if you’re wondering whether it’s worth your time, the answer isn’t what you might expect. It’s not a scam in the traditional sense. It doesn’t have a shady team or fake whitepaper. But it’s also not a working project. GRS is a ghost. A fan token launched in 2021 for a Turkish football club, it’s still technically on the blockchain-but almost no one is using it. And that tells you everything you need to know.
What Giresunspor Token (GRS) Actually Is
GRS is an ERC-20 token built on the Ethereum blockchain, created specifically for Giresunspor Football Club, a team based in the small city of Giresun in northeastern Turkey. It was meant to give fans a digital way to connect with the club-think exclusive merchandise, behind-the-scenes content, maybe even voting on minor club decisions. Sounds familiar? That’s because it’s modeled after the fan token trend popularized by Socios.com and their $CHZ token, which powers fan engagement for clubs like FC Barcelona, Paris Saint-Germain, and Juventus.
But here’s the difference: while $CHZ tokens are traded on Binance, Coinbase, and Kraken, GRS barely shows up anywhere. Coinbase lists it as active as of January 19, 2026, with a circulating supply of 938,406.93 tokens out of a max supply of 1 million. But Binance? It shows a price of $0.00. Crypto.com says it’s worth $0.02436. WorldCoinIndex gives two wildly different prices: $0.219 and $0.007. That kind of inconsistency doesn’t mean the market is volatile-it means there’s no real trading happening. The numbers are broken.
Why GRS Isn’t Working
GRS has none of the ingredients a crypto project needs to survive. No whitepaper. No blog. No GitHub. No Telegram group. No Reddit. No Twitter. No Facebook. No LinkedIn. According to WorldCoinIndex, every single link to official community or technical resources is marked as “not available.” That’s not just neglect-it’s abandonment.
Compare that to Chiliz-powered tokens. They have full teams, regular updates, fan polls, NFT drops, and live Q&As with players. Giresunspor FC? Nothing. No announcements. No new features. No events tied to the token. The last time anyone publicly mentioned GRS was likely in 2022. Since then, silence.
The token’s market cap is tiny-under $100,000 even at its highest estimated price. That’s less than 0.002% of the entire global sports fan token market, which is worth over $4.5 billion. It’s not just small. It’s irrelevant in the bigger picture.
Who Even Owns GRS?
Who holds these tokens? Probably a handful of die-hard Giresunspor fans in Turkey. Maybe a few speculators who bought it during a brief price spike in 2021 and forgot about it. But there’s no evidence of active users. No testimonials. No Reddit threads. No YouTube videos explaining how to use it. No support pages. No FAQs.
If you tried to buy GRS today, you’d struggle. You’d need an Ethereum wallet like MetaMask. You’d have to find a decentralized exchange that still lists it-probably some obscure Turkish or low-liquidity DEX. Then you’d pay gas fees in ETH to trade a token that might not even move in price for weeks. And what would you do with it? There’s no official app. No portal. No rewards system you can actually access.
It’s like having a key to a door that’s been boarded up.
How It Compares to Other Fan Tokens
| Feature | Giresunspor Token (GRS) | Chiliz ($CHZ) Powered Tokens |
|---|---|---|
| Blockchain | Ethereum (ERC-20) | Chiliz Chain (Ethereum sidechain) |
| Max Supply | 1,000,000 | Varies by club (e.g., 10M-100M) |
| Trading Volume (24h) | $5K-$40K (inconsistent) | $10M-$50M+ |
| Exchanges | Only Coinbase, minor DEXs | Binance, Coinbase, Kraken, OKX |
| Community Channels | None available | Active Telegram, Twitter, Discord |
| Official Documentation | None | Whitepaper, API docs, developer portal |
| Functional Use Cases | Theoretical only | Voting, rewards, NFTs, exclusive access |
| Market Cap (Est.) | <$100,000 | $1B-$4.5B |
GRS doesn’t just lose to Chiliz tokens-it loses to almost every other fan token ever made. Even tiny clubs like FC Helsingør or FC Ararat have functional fan tokens with active communities and regular updates. Giresunspor FC chose to go solo. And it failed.
Is GRS Still Alive?
Technically, yes. The tokens exist on the Ethereum blockchain. The smart contract is still there. But that’s like saying a car is still alive because the engine is still in the garage-no fuel, no keys, no driver.
The lack of updates since 2022, the missing social channels, the zero trading volume on major platforms, and the $0 price on Binance all point to one conclusion: the project is dead. Not in a dramatic, scammy way. Just quietly, slowly, and completely forgotten.
There’s no official statement from Giresunspor FC about GRS. No press release. No social media post. No email to fans. The club seems to have moved on. Maybe they realized fan tokens need more than a logo and a blockchain address. They need a team, a plan, and ongoing effort.
Should You Buy GRS?
No.
Not because it’s fraudulent. But because it’s pointless. There’s no utility. No roadmap. No community. No liquidity. You can’t spend it. You can’t earn from it. You can’t even sell it easily.
If you’re a Giresunspor fan and you already own GRS? Congratulations-you’ve got a digital souvenir. But don’t expect it to grow in value. Don’t expect any perks. Don’t expect the club to ever do anything with it again.
If you’re looking to invest in fan tokens? Stick with the big ones: $CHZ, $BONK, $PSG, $JUV. They have teams, apps, real rewards, and active markets. GRS is a relic.
What Happens to GRS Now?
It’ll probably sit there forever. A tiny blip on the blockchain. A footnote in crypto history. A lesson in how not to launch a fan token.
Most fan tokens fail. But most fail because they’re scams or poorly managed. GRS failed because no one cared enough to keep it alive. And that’s worse. It wasn’t a bad idea. It was just abandoned.
If you’re reading this and you’re a Giresunspor fan-maybe it’s time to ask the club: what happened to GRS? Why did they stop? Did they ever even try to make it work? The answer might surprise you.
For now, GRS is just a number on a screen. And numbers don’t win games. Fans do.