With the first whistle of the 2022 World Cup in Qatar, the pre-tournament activity in fan tokens continues.
The crypto industry has been adopted by the sports world in a short time. Products and services using NFTs, fan tokens and blockchain technology have created new values with sports organizations. Hundreds of collaborations and partnerships have been established in football, one of the most popular sports in the world. The biggest examples on the agenda are the fan tokens of the teams in FIFA and the World Cup. While the organization, which is held every four years, was eagerly awaited, there were movements in the affiliated crypto units. How is the movement of fan tokens tied to the sports industry after the start of the tournament?
What about 2022 World Cup Fan Tokens?
The rise of fan tokens began just before the 2022 FIFA World Cup, which kicked off in Qatar on November 20. World Cup followers are counting the days for the final match to be held on 18 December. According to CoinGecko data, what is the latest situation in cryptocurrencies?
1-Argentina National Team Fan Token (ARG)
In the first match of the FIFA World Cup held in Qatar this year, Argentina lost 2-1 to Saudi Arabia. The price of the Argentina national team fan token (ARG) dropped by around 30 percent after the defeat. The current price of ARG, which started the tournament with a price of $ 9, is $ 4.56.
2-Portugal National Team Fan Token (POR)
The price of POR before the start of the Qatar World Cup was over $7. For POR, which won its first victory with a score of 3-2 last night, the decline started with the tournament like other tokens. Although instant rises were seen, the price of the fan token decreased to $ 4.01.
3-Spain National Team Fan Token (SNFT)
Spain national team fan token SNFT has witnessed a sideways price action over the past three weeks. The price of the fan token, which was close to $0.50 before the World Cup, dropped to $0.25 before the first fight started. In the 2nd match of Group E in the tournament, Spain managed to defeat Costa Rica with a different score of 7-0. Although the fan token rose to $ 0.35 with this win, its current price is $ 0.22.
4-Brazil National Team Fan Token (BFT)
The Brazilian fan token has been falling for the past two months. On November 24, the Fan token witnessed its latest reversal from the resistance trendline, dropping its price by 38 percent to its current price of $0.64. Brazil took a 2-0 win against Serbia in their first match and the fan token price reached as high as 0.73. It then fell to $0.49.
Chiliz and Algorand Also Affected by the Tournament
In addition to national team tokens; fan token maker Chiliz (CHZ) was among the bullish pre-tournament. The current price of CHZ, which was $0.24 at the start of the tournament, is $0.17. Algorand (ALGO), which has an agreement with FIFA, also caught the rally. Algorand started the tournament with $0.32. ALGO went down to $0.24 in the next period.
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