2022 FIFA World Cup: Fan tokens all down as competition continues
15:50, 7 December 2022
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.
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.”
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