Since the World Cup 2022 in Qatar kicked off, the number of searches and transactions related to fan tokens has increased significantly. Fan tokens are cryptocurrencies that allow token holders to access fan-related membership perks such as voting on club decisions or unique experiences.
Fan tokens of famous teams like Brazil, Argentina, Portugal and Spain are very sought after, even since the World Cup 2022 has not kicked off. Of course, the price of fan tokens will be directly affected by the outcome of matches played by that team. That’s why after the shock loss of Argentina to Saudi Arabia, Argentina’s fan token (ARG) has dropped sharply. From $7.5 on the morning of Nov 22, ARG has plunged by 30% to a low of $4.96 before recovering and is trading at $5.64 at the time of writing.
Messi and his team lost 2-1 to Saudi Arabia disappointed many people because Argentina is one of the brightest candidates for the World Cup championship. The match had a negative impact on the psyche of this team’s fans.
ARG is the official fan token of the Argentine Football Association. ARG token fan holders will have the right to vote on decisions made by this organization. They also have some privileges such as being a VIP of the Antonio Vespucio Liberti stadium, having priority to buy items with players’ signatures or meeting favorite players.
Argentine Football Association Fan Token has a total market cap of $19 million, however, the total trading volume of this fan token amounted to 29.5 million USD over the last 24 hours, one and a half times its market cap. That showed a lot of holders bought or sold fan tokens today.
The World Cup 2022 in Qatar will last until the end of December so fan tokens will continue to fluctuate strongly in the coming days. Football fans need to consider carefully before buying these types of fan tokens. In case the team has a bad performance, its fan tokens will be negatively affected, even losing liquidity.
Follow our channels for more crypto news:
- Cryptory Insights: https://t.me/CryptoryInsights
- Cryptory Global Community: https://t.me/CryptoryCommunity
- Facebook: https://www.facebook.com/CryptoryNetwork
- Twitter: https://twitter.com/CryptoryNetwork