Spain for the win? Top 3 Fan Tokens to Watch During the FIFA World Cup

Spain, Portugal and Brazil national team fan tokens see price spike as World Cup begins.

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The FIFA World Cup in Qatar boosts the value of the national football team's fan tokens despite the cryptocurrency bear market.

Qatar World Cup hype drives up token prices for fans

These digital fan tokens are currently rallying despite the downturn in the cryptocurrency market, securing up to 170% gains from the November 10th lows. At the heart of this massive uptrend is the World Cup, which will be held from November 20 to December 18 in Qatar.

Fan Tokens are cryptocurrencies that allow fans to engage and participate in the decisions of their favorite team. Additionally, they create new sponsorship opportunities for sports clubs and national teams outside of traditional revenue streams.

Here is a brief overview of the top earners in the fan token industry, along with their technical outlook during the World Cup.

Spain National Football Team (SNFT) Fan Token

The Spain National Football Team Fan Token (SNFT) became the top earner in the sports token section, rising 170% to a high of $0.54 on November 19, nine days after hitting a low of $0.20.

SNFT/USD daily price chart. Source: TradingView

SNFT's outperformance against other fan crypto tokens may reflect the Spanish football team's higher chances of winning the World Cup in 2022. But in In traditional terms, Spain's odds of winning the trophy are +800, which means betting $100 would return $800, according to Vegas Insider.

From a technical point of view, SNFT trades inside a neutral...