Argentina fan token sinks 31% after World Cup loss to Saudi Arabia
The price of soccer fan tokens, designed for fan engagement, is apparently influenced by teams' on-field performance.
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Argentina's shock 2-1 loss to Saudi Arabia in the opening game of the FIFA World Cup sent the price of the Argentine Football Association (ARG) Fan Token crashing ), in line with the hopes of diehard football fans in the country.
With the ARG token priced at $7.21 at kick-off, the poor performance of the football team led by Lionel Messi saw the price of the token drop by 31% to $4.96 at the start. end of the game before climbing to $5.22 at the time of writing. , according to data from Coingecko.
In contrast, the floor price of “The Saudis,” a collection of Saudi Arabia-themed non-fungible tokens (NFTs) unrelated to the football team, skyrocketed 52.6% , dropping from 0.196 ether (ETH) to 0.3 ETH over the same period before cooling off. at a price of 0.225 ETH, or approximately $250.
The collection's sales volume has also increased by 990% in the past 24 hours, approaching 24.5 ETH according to OpenSea data.
Despite the hype surrounding the FIFA World Cup, which officially kicked off on November 20, cryptocurrency research firm Delphi Digital noted that the Socios fan engagement platform , the native token Chiliz (CHZ), in addition to other football-based tokens representing the participating nations, has also cooled considerably in recent days:
Soccer Fan Tokens have crashed in the past 3 days as the 2022 FIFA World Cup begins:
Chile / $CHZ: -21%Argentina / $ARG: -17%Portugal / $POR: -17%Brazil / $BFT: -21%Spain /
The price of soccer fan tokens, designed for fan engagement, is apparently influenced by teams' on-field performance.
New
Argentina's shock 2-1 loss to Saudi Arabia in the opening game of the FIFA World Cup sent the price of the Argentine Football Association (ARG) Fan Token crashing ), in line with the hopes of diehard football fans in the country.
With the ARG token priced at $7.21 at kick-off, the poor performance of the football team led by Lionel Messi saw the price of the token drop by 31% to $4.96 at the start. end of the game before climbing to $5.22 at the time of writing. , according to data from Coingecko.
In contrast, the floor price of “The Saudis,” a collection of Saudi Arabia-themed non-fungible tokens (NFTs) unrelated to the football team, skyrocketed 52.6% , dropping from 0.196 ether (ETH) to 0.3 ETH over the same period before cooling off. at a price of 0.225 ETH, or approximately $250.
The collection's sales volume has also increased by 990% in the past 24 hours, approaching 24.5 ETH according to OpenSea data.
Despite the hype surrounding the FIFA World Cup, which officially kicked off on November 20, cryptocurrency research firm Delphi Digital noted that the Socios fan engagement platform , the native token Chiliz (CHZ), in addition to other football-based tokens representing the participating nations, has also cooled considerably in recent days:
Soccer Fan Tokens have crashed in the past 3 days as the 2022 FIFA World Cup begins:
Chile / $CHZ: -21%Argentina / $ARG: -17%Portugal / $POR: -17%Brazil / $BFT: -21%Spain /
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