Football Fan Token Price Plummets a Week into FIFA World Cup 2022

Football fans in the boiling hot and always sunny Qatar still couldn’t manage to escape the crypto winter.

Football Fan Token Price Plummets A Week Into FIFA World Cup 2022

As the FIFA World Cup 2022 in Qatar completes its first week, all the football fan tokens are going through a huge slump. The newly built, air-conditioned stadiums in Doha are hosting approximately half a million football fans and crypto has a significant role to play in this year’s edition of the top-notch soccer tournament.

National Team Football Fan Tokens in Whopping Deficit

Furthermore, the national teams participating in the tournament have to face the music of the crypto winter, as most of the national team-related football fan tokens nosedived in double digits over the last 24 hours.

For instance, Spain’s impressive 7:0 win over Costa Rica didn’t help the squad’s native crypto token, as the Spain National Football Team Fan Token (SNFT) is down by 23.8% in the last 24 hours. At press time, Spain’s official football token is priced at just $0.223111, according to CoinGecko.

On top of that, the Portugal National Team Fan Token (POR) dropped by 18.5% right after the national team managed to come through with a dramatic 3:2 victory against Ghana.

Finally, yesterday’s last game between Brazil and Serbia produced one of the most beautiful goals in football history, as well as a solid 2:0 win for the Brazilians. However, the Brazil National Football Team Fan Token (BFT) is priced at $0.499279, having dipped by a massive 26.3% in a single day.

Binance is Building a Web3 Football Experience

The crypto giant Binance presented the Binance Football Fever a week prior to the World Cup’s kick-off. Ever since the tournament started, the daily challenges enabled football and crypto fans to earn free NFTs and share a piece of the cash prize pool. Besides, Binance recently joined forces with TopGoal NFT to build a football metaverse experience dedicated to the World Cup 2022.

On the Flipside

Why You Should Care

According to a recent survey by popular crypto exchange KuCoin, 70% of crypto investors are actively watching the FIFA World Cup, while another half of them tend to invest in football fan tokens.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.