{"id":514468,"date":"2022-11-23T06:08:48","date_gmt":"2022-11-23T03:08:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/argentinas-fan-token-sinks-31-after-world-cup-loss-against-saudi-arabia\/"},"modified":"2022-11-23T06:08:48","modified_gmt":"2022-11-23T03:08:48","slug":"argentinas-fan-token-sinks-31-after-world-cup-loss-against-saudi-arabia","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/argentinas-fan-token-sinks-31-after-world-cup-loss-against-saudi-arabia\/","title":{"rendered":"# Argentina\u2019s fan token sinks 31% after World Cup loss against Saudi Arabia"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a418dbcafe25\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a418dbcafe25\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/argentinas-fan-token-sinks-31-after-world-cup-loss-against-saudi-arabia\/#%E2%80%9D_Argentinas_fan_token_sinks_31_after_World_Cup_loss_against_Saudi_Arabia_%E2%80%9C\" >&#8221; Argentina\u2019s fan token sinks 31% after World Cup loss against Saudi Arabia &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Argentinas_fan_token_sinks_31_after_World_Cup_loss_against_Saudi_Arabia_%E2%80%9C\"><\/span>&#8221; Argentina\u2019s fan token sinks 31% after World Cup loss against Saudi Arabia &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMmUzMzNjZGYtMzk5ZS00NjY0LWE5ZDYtN2E4ODVkOTBhYjcxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5129e2ea>Argentina\u2019s shock 2-1 loss to Saudi Arabia in the opening match of the FIFA World Cup has plummeted the price of the Argentine Football Association Fan Token (ARG), in line with the hopes of the nation\u2019s die-hard soccer fans.\u00a0<\/p>\n<p>With the ARG token priced at $7.21 at kick-off, the poor performance by the Lionel Messi-led soccer team saw the token\u2019s price fall 31% to $4.96 by the end of the match before rising to $5.22 at the time of writing, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/argentine-football-association-fan-token\">data<\/a> from Coingecko.<\/p>\n<p>By contrast, the floor <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/nft\/the-saudis\">price<\/a> of &#8220;The Saudis,&#8221; a Saudi Arabian-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">theme<\/a>d nonfungible token (NFT) collection unrelated to the soccer team, skyrocketed 52.6% from 0.196 Ether (ETH) to 0.3 ETH over the same time before cooling off to a price of 0.225 ETH, around $250.<\/p>\n<p>The collection&#8217;s sales volume also spiked 990% over the last 24 hours, closing in on 24.5 ETH as per OpenSea <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/opensea.io\/collection\/thesaudis\/analytics\">data<\/a>.<\/p>\n<p>Despite the built-up hype for the FIFA World Cup, which officially kicked off on Nov. 20, cryptocurrency research firm Delphi Digital noted that the fan engagement platform Socios&#8217; native token Chiliz (CHZ), in addition to other soccer-based tokens representing participating nations, has also cooled off considerably over the last few days:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Football Fan Tokens have cratered over the past 3 days as the FIFA World Cup 2022 Begins:<\/p>\n<p>Chilis \/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24CHZ&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$CHZ<\/a>: -21%<br \/>Argentina \/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ARG&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ARG<\/a>: -17%<br \/>Portugal \/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24POR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$POR<\/a>: -17%<br \/>Brazil \/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BFT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BFT<\/a>: -21%<br \/>Spain \/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24SNFT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SNFT<\/a>: -31%<br \/>Peru \/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24FPFT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FPFT<\/a>: -26%<\/p>\n<p>The index (FOOTBALL) is down 21% over the period. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/y7tb72R3Et\">pic.twitter.com\/y7tb72R3Et<\/a><\/p>\n<p>\u2014 Delphi Digital (@Delphi_Digital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Delphi_Digital\/status\/1594779147741630475?ref_src=twsrc%5Etfw\">November 21, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>CHZ is an ERC-20 token native on Socios, a blockchain-powered fan engagement platform that has been one of the largest contributors to the sports-fan token boom. <\/p>\n<p>Many of the soccer\u2013based tokens run on Socios, which has partnerships with some of the largest soccer clubs in the world, includi Barcelona F.C., Paris Saint-Germain F.C., and Manchester City F.C.<\/p>\n<p>While the tokens don\u2019t represent ownership in teams, the token allows buyers to vote in some decisions made by sponsoring teams in addition to enabling access to some rewards.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Billions are spent marketing crypto to sports fans \u2014 Is it worth it?<\/em><\/strong><\/p>\n<p>Popularity for fan-based tokens in the sporting industry has surged lately too, with token sales volumes often increasing more than 250% month-on-month since Jan. 2022. <\/p>\n<p>Some appear to have viewed the tokens as an indirect way to bet on the success of such teams, despite them not being designed for that purpose.<\/p>\n<p>The tokens are also impacted by factors other than the on-field success of soccer teams, such as the regular ebbs and flows of crypto markets and breaking <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> events.\u00a0<\/p>\n<p>An example is the recent FTX collapse sending the price of CHZ falling by nearly 40% since the reports of the exchange\u2019s liquidity issues and proceeding bankruptcy.<\/p>\n<p>In May, smart contract platform Algorand became the first official blockchain-based sponsor for the FIFA World Cup, which is set to wrap up on Dec. 18.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/argentina-s-fan-token-sinks-31-after-world-cup-loss-against-saudi-arabia\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Argentina\u2019s fan token sinks 31% after World Cup loss against Saudi Arabia &#8220; Argentina\u2019s shock 2-1 loss to Saudi Arabia in the opening match of the FIFA World Cup has plummeted the price of the Argentine Football Association Fan Token (ARG), in line with the hopes of the nation\u2019s die-hard soccer fans.\u00a0 With the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":514469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMmUzMzNjZGYtMzk5ZS00NjY0LWE5ZDYtN2E4ODVkOTBhYjcxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74894,80667,135234,75385,74892,74355,22845,117,30487,81144],"class_list":["post-514468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-blockchain","tag-event","tag-ftx","tag-sport","tag-tokens","tag-adoption","tag-argentina","tag-business","tag-football","tag-saudi-arabia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=514468"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514468\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/514469"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=514468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=514468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=514468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}