Fan tokens are seeing a double-digit rise as the World Cup approaches, here’s what you need to know about them.
On the eve of the World Cup, hosted this time in Qatar and which will therefore take place from November to December, a number of cryptocurrencies attached to national teams have received a boost in their quotations.
According to CoinMarketCap, for the last seven days, the prices of national team tokens from Argentina and Portugal have seen the biggest increase, not least, of course, due to the presence of two football superstars of the last decades, Lionel Messi and Cristiano Ronaldo. Thus, the price of ARG has increased by 38.7% in the last week, while the price of POR has increased by 32.2%.
An additional trigger for these tokens could be the fact that they were issued by Chiliz and promoted by Binance at the same time. Also, the Argentina national team has the scholarship as its main sponsor.
Who else is affected by the World Cup craze?
More modest, but still double-digit, growth was shown by the quotes of the Spanish national team token, SNFT, which gained 16.5% over the reporting period. Next come the cryptocurrencies of the two South American national teams, Peru and Brazil. Despite the latter’s stars, with Neymar at the helm, BFT’s quotes are up just 5%, while FPFT is up more than 8.2% in the past seven days.
Furthermore, the price of the Chiliz token, CHZ, has already gained 27.5% in the past few days. We will know as November 20 approaches whether the positive trend in the price of tokens affiliated with the sporting event will continue.