Riding emotions from its loss in the FIFA World Cup 2022 to Saudia Arabia, the price of the Argentina fan token tanked by more than 25%. For the victors, the floor price of their Saudi Arabian-themed nonfungible token (NFT), 'The Saudis,’ blasted off
The ongoing FIFA World Cup in Qatar is one of, if not THE most trending global event currently taking place. Given the enthusiasm among enthusiasts from across the world, fan tokens saw a fresh surge in the run-up to the first set of matches.
As of Nov. 23, 2022, fan token prodajni for the month were roughly $6.9 billion, with an all-time sales volume nadmašivši the $175 billion mark. Given the results of individual matches, respective token prices could swing wildly.
Šok i strahopoštovanje
Argentina’s loss of 2-1 to underdogs Saudi Arabia sent shock waves all across the globe, including the crypto sector. The Argentine Football Association’s crypto fan token ARG tanked significantly, dropping by more than 25%.
Consider this, before the kick-off, the flagship token stood at $7.50. But at the time of press, ARG traded around the $5.25 mark, highlighting that many fans sold off their tokens. These tokens were created by the Chiliz crypto firm and were launched on its Socios exchange in an official partnership with the Argentine Football Association.
Chiliz's CHZ token was also seeing red. Overall, the FOOTBALL index was down by 21% over the past weekend.
Delphi Digital, a crypto research firm, highlighted these happenings in a Nov. 22 tweet:
Source: https://beincrypto.com/argentina-fan-token-drops-25-following-world-cup-defeat-saudi-arabia/