Soccer Fan Tokens Skyrocket In Price Days Before FIFA 2022 World Cup
The upcoming soccer “holiday” appears to have uplifted the ongoing misery in the crypto market due to the ongoing FTX turmoil. The soccer fan tokens of several national teams are showing incredibly strong price movement just two days before the FIFA World Cup 2022, which will be contested this winter in Qatar.
Nation Fan Tokens Leading The Charge
In the last seven days, the prices for ARG (Argentina) and POR (Portugal) rose by 31% and 43%, respectively, with most of this growth coming in the past 24 hours alone. The reason behind it is pretty simple, as soccer legends Lionel Messi and Cristiano Ronaldo play for these national teams.
Tokens of other nations like Brazil, Germany, France and Italy are also showing strong price action and are expected to rise more as the FIFA World Cup 2022 inches closer.
Read More: Top Coins Signalling Bull Run Ahead Of FIFA World Cup 2022
Club Fan Tokens Are Not Far Behind
Not just nation tokens, but soccer-club fan tokens are also rising significantly in value. Fan tokens like LAZIO, PORTO, SANTOS, ALPINE and others have risen by over 30-60% in the past seven days.
Read More: FC Porto Fan Token Price Aims 20% Rise With This Breakout
Chiliz, the platform used to issue the majority of soccer-related tokens is also experiencing positive price movement for its CHZ token. In the months leading up to the World Cup, it has made it to the top 100 most profitable cryptocurrencies.
NFT Craze Surrounds FIFA World Cup 2022
As reported earlier by CoinGape, Visa had announced the release of a collection of “one-of-a-kind digital collectibles” featuring famous goals from five iconic football players. The official sponsor of FIFA’s cryptocurrency trading platform, Crypto.com, has now started offering the Visa Masters of Movement NFTs on their platform.
The winning bidders for each NFT will win a signed piece of memorabilia from the featured legendary players in addition to the token in their Crypto.com wallet.
Additionally, Visa said that “Street Child United”, a U.K. based charity, will receive 100% of the auction’s revenues.
- Japan’s FSA Targets Insider Trading in Cryptocurrency With New Rules
- VanEck Files Amended S-1 for Spot Solana ETF, Slashes Management Fee to 0.30%
- Breaking: Jerome Powell Signals More Rate Cuts As Labor Market Weakens, Bitcoin Rises
- DOJ Files $15B BTC Forfeiture Order, Potentially Boosting U.S. Bitcoin Reserves
- ‘Trump Insider Whale’ Increases Bitcoin Short to $485M Amid Crypto Market Crash
- Chainlink Price Eyes $100 as S&P Global Partnership Expands Institutional Adoption
- Solana Price Prediction as Whales Withdraw $169M from Exchanges
- Pro Says Ethereum Price is a Buy Despite Rising Liquidations and BlackRock Selling
- XRP Price Prediction as Whales Dump 2.23B Tokens — Is $2 the Next Stop?
- Trader Sees a Dogecoin Price Surge as House of Doge Sets for a NASDAQ Listing
- Will Shiba Inu Price Recover After the Crypto Crash As Burn Rate Soars 8,194%?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
