World Cup 2022: Argentine Football Association Fan Token (ARG) falls 32% after 2-1 loss to Saudi Arabia
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Argentina’s first match in the FIFA World Cup Qatar 2022 against Saudi Arabia ended in a shock 2-1 defeat for the South American team, which resulted in the argentine football association fan token (ARG) dropping by almost a third.
According to CoinMarketCap, the $ARG token went from being priced at $7.5124 before the match on 22 November to $5.1019 following its defeat, a drop of 32%.
The Argentine Football Association (AFA) partnered with the global sports blockchain provider Chiliz, which operates the chiliz token (CHZ), in May 2021 to unveil the $ARG Fan Token through the fan engagement and reward app Socios.com.
Argentina became the first national team in the world to use Fan Tokens to engage with their global fan base.
The $ARG Fan Token is “minted on the Chiliz blockchain, that provide owners with access to voting rights in polls, VIP rewards, exclusive promotions, AR-enabled features, chat forums, games and competitions” on the Socios.com app.
Socios.com described the Argentina national team as “the most successful national side” as it has won the World Cup twice before in 1978 and 1986 and the Copa América – the South American Football Championship – 14 times.
CHZ to USD
$ARG launched to help with ‘the challenge of generating greater income for the AFA’
Claudio Tapia, president of the AFA, at the time of the $ARG announcement said: “We are very happy to announce this important agreement with the multinational and innovative brand Socios.com.
“Since assuming our management, we have faced the challenge of generating greater income for the AFA, developing new revenues and enhancing the commercial presence of our national team in the world.
“We are very excited about this new announcement, which reinforces the confidence of large companies in AFA’s commercial projects. We welcome you to Socios.com and look forward to working together to achieve great results.”
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Captain of Argentinian squad is global brand ambassador for Socios.com
Lionel Messi, the Argentinian professional footballer who plays as a forward for the French football club Paris Saint-Germain (PSG) and is also captain of the Argentinian football team for the World Cup, is a global brand ambassador for Socios.com.
In March 2022 it was announced Messi had signed a multi-year partnership with Socios.com that will last for an initial period of three years, and was said to be worth more than $20m (£16.75m).
As global brand ambassador, Messi promotes Socios.com to his 400 million Twitter and Instagram followers. The Argentinian footballer will also appear in numerous educational and promotional campaigns for Socios.com.
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