Crypto in FIFA World Cup 2022: Argentine Football Fan Token falls 30%, The Saudis NFT collection’s floor price increases 35%
In Brief
The FIFA World Cup 2022 fan tokens are ready to skyrocket, but after Argentina’s loss, the ARG token falls by 30%.
The surprising win for Saudi Arabia resulted in an increased trading volume of The Saudis NFT collection and a higher floor price.
Following the devastating loss for Argentina 1:2 against Saudi Arabia in its debut FIFA World Cup 2022 match, the Argentine Football Association Fan Token ARG fell by more than 30% to its lowest point of $4.56. Meanwhile, the NFT collection “The Saudis” saw the floor price increase by 35%, reaching 0.28 ETH.
According to OpenSea, The Saudis saw a 1,065% increase in 24-hour trading volume (19 ETH traded). The collection of 5,555 CryptoPunk derivatives of Arabian PFPs is fueled by its “kingdom,” inspired by Saudi Arabia. The country is currently celebrating its well-deserved epic win against Argentina.
Of all the fan tokens on Socios.com and Chiliz, the Argentine Football Association Fan Token is the one that has fallen the most in the last 24 hours.
Despite the FTX crisis having a negative impact on the entire crypto market, football fan tokens have remained relatively strong in anticipation of the World Cup 2022.
Portugal, Spain, and Brazil have all released their own national team tokens. None of these teams have played yet, but the fan token prices will fluctuate depending on the match results. Although the price of the Argentina Fan Token (ARG) dropped because of the team’s loss in its first group-stage match, buying the token could still be a good idea. The Argentina team still has a chance to qualify for the finals, so the token price can increase.
Saudi Arabia beating Argentina at the FIFA World Cup in Qatar was one of the biggest upsets in World Cup history. Argentina is considered the world’s third-best football team, while Saudi Arabia is 51st.
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