Markets News Report
November 22, 2022

Crypto in FIFA World Cup 2022: Argentine Football Fan Token falls 30%, The Saudis NFT collection’s floor price increases 35%

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.

fifa fan tokens
The rise of The Saudis NFT collection. Source: nftgo.io
fifa fan tokens
The Saudis NFT transactions. Source: nftgo.io

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.

argentina saudi arabia, fifa fan tokens
Source: CoinMarketCap

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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About The Author

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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Agne Cimerman
Agne Cimerman

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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