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World Cup 2022: Argentine Football Association Fan Token (ARG) falls 32% after 2-1 loss to Saudi Arabia

By Darius McQuaid

Edited by Charlie Mellor

11:57, 23 November 2022

Lionel Messi of Argentina holds a football during the World Cup group C match between Argentina and Saudi Arabia
Argentina became the first national team to use Fan Tokens to engage with fans – Photo: Getty Images

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 

BCH/USD

380.00 Price
-2.030% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

ETH/USD

3,430.62 Price
-0.640% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

BTC/USD

64,675.50 Price
-0.210% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

DOGE/USD

0.12 Price
-1.700% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

$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.

“This agreement clearly responds to our strategy and also reinforces our digital growth. Through Fan Tokens, fans will feel closer to our national team and will be able to influence the team, earn rewards and enjoy exclusive experiences.

“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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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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