World Cup Fan Tokens Rise and Fall Per Match
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An editor at Coincrop
23 Nov 2022 | 2 min read
occer fan tokens, which are designed for fan engagement, appear to be influenced by how well teams perform.
After Argentina's disappointing 2-1 loss to Saudi Arabia in the first match of the FIFA World Cup, the price of Argentine Football Association Fan Token (ARG) has dropped sharply.
The ARG token's value fell from $7.21 at the start of the match to $4.96 by its conclusion, a 31% drop. Afterward, it rebounded somewhat to $5.22, although this is still well below its original value.
In comparison, the starting price for "The Saudis," an NFT collection associated with Saudi Arabia, increased 52.6% from 0.196 Ether (ETH) to 0.3 ETH in the same amount of time before going down to a price of 0.225 ETH, makings around $250 .
Token sales volumes in the sporting industry have increased by more than 250% since January 2022.
JonathanAn editor at Coincrop
Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.
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