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.
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FIFA World Cup unites people all over the world. That’s exactly what the crypto market needs atm! The latest KuCoin survey reveals football is the most popular sport among crypto users. https://t.co/EWxlK13q6w— Johnny_KuCoin (@lyu_johnny) November 22, 2022
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.
Have you caught the fantastic matches from #Portugal and #Brazil teams? Huge congratulations to:1574 users earned token rewards on Day 5137 users were rewarded 146 USDT each for correct scores Click here to claim your rewards https://t.co/QTyWTjVxub pic.twitter.com/lD8lFTcaud— Binance Fan Token (@BinanceFanToken) November 25, 2022
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.
Is football going to help with mass adoption? @binance sure thinks so! After the big #NFT reveal with @Cristiano, @TopGoal_NFT is working with @BinanceFanToken to build a #metaverse experience! #crypto #CryptoNews #Cryptocurrencies #DeFi https://t.co/N1bhG1i7pN— BSC News (@BSCNews) November 25, 2022
On the Flipside
- According to Kaspersky Research, there will be a significant increase in crypto scams related to football fan tokens during the FIFA World Cup ’22.
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.
Find out more about the solid partnership between football and crypto:
Binance Holds Football Fiesta (NASDAQ:FRGI) Ahead of World Cup, Brings Games, Rewards, and More
Cristiano Ronaldo and Binance Partner for CR7 NFT Drop