CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

2022 FIFA World Cup: Fan tokens all down as competition continues

By Darius McQuaid

15:50, 7 December 2022

Lionel Messi (10) of Argentina celebrates their victory and a player of Australia gets upset after the FIFA World Cup Qatar 2022 Round of 16 match between Argentina and Australia at Ahmad Bin Ali Stadium in Al Rayyan, Qatar on 3 December, 2022
Crypto.com is an official sponsor of the FIFA World Cup Qatar 2022 - Photo: Getty Images

Even though the FIFA World Cup Qatar 2022 still has a week to run, fan token cryptos for teams left in the competition are all falling in value.

The World Cup will end on 18 December, after 32 national teams competed across 64 matches to determine a winner.

The Argentinian Football Association Fan Token, $ARG, was created after the national team partnered with Chiliz, the global blockchain providers for the sports industry, and unveiled a fan token via the fan engagement and reward app Socios.com.

As of 15:17 GMT on 7 December, $ARG was trading at $2.81, down by 4.1% compared with the previous day, according to CoinMarketCap.  

This is despite Argentina getting through to the quarter-finals, where the team will play the Netherlands on 9 December.

The same can be said for Brazil, whose fan token (BFT) has fallen by 3.4% to $0.1088, despite the fact the team also  qualified for the quarter-finals. The BFT was issued by Bitci, a crypto trading platform.

The Portugal National Fan Token (POR), which was also created after a partnership with Chiliz, is down by 0.73% to $2.41. Portugal is through to the quarter-finals as well, after beating Switzerland 6–1.

XRP/USD

0.63 Price
+1.600% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

DOGE/USD

0.22 Price
+18.800% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

BCH/USD

568.95 Price
+5.060% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

BTC/USD

71,502.75 Price
+3.670% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

The Spain National Fan Token (SNFT), also issued by Bitci, is down by 45.98% to $0.05015, though Spain is out of the World Cup after losing to Morocco 3-0 on penalties. 

BTC to USD

World Cup has a crypto feel

In March 2022, Crypto.com announced it would be an official sponsor of the World Cup in Quatar.

The crypto platform is the exclusive trading platform sponsor of Qatar 2022 and says it would “benefit from significant branding exposure both within and outside the tournament’s stadiums”.

At the time, Kris Marszalek, co-founder and CEO of Crypto.com, said: “We could not be more excited to sponsor the FIFA World Cup, one of the most prestigious tournaments in the world, and to drive further awareness of Crypto.com globally.

“Through our partnership with FIFA, we continue to use our platform in innovative ways so that Crypto.com can power the future of world-class sports and fan experiences around the world.”

Related topics

Rate this article

Related reading

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.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 580.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading