National Team Fan Tokens Surge Ahead of 2022 FIFA World Cup

LAGOS (CoinChapter.com) — The fan tokens of national teams that will be participating in the upcoming 2022 FIFA World Cup in Qatar have rallied significantly due to the massive build in the run-up to the event.

In detail, the entire fan token market cap today plummeted around 1% rising to around $365 million. The FIFA World Cup which is slated to take place from Nov. 21 to Dec. 18 has triggered the launch of several fan tokens and even a world cup based coin.

Notably, 32 national teams are slated to compete across 64 matches in the competition. As a result about half of the participating countries have launched tokens to provide fans wholesome experience. Here are some top national fan tokens and how they are performing.

1 Brazil National Football Team Fan Token (BFT)

Brazil’s national football team fan token plummeted by almost 8% in the last 24 hours, according to data from Coingecko. The token which hit an all-time high of $1.67 last month has lost its dollar benchmark following the price drop.

BFT is currently the largest national team fan token by market capitalization, surpassed by only Santos FC and Lazio fan tokens in general. The token value has also dropped by almost 35% in the last 30 days. At the time of publication, BFT has a market cap of more than $30 million with a total supply of 100 million.

It is also worth noting that Brazil is the most successful national team in the FIFA World Cup. The South American country has won the prestigious tournament five times: 1958, 1962, 1970, 1994, and 2002.

2 Argentine Football Association Fan Token (ARG)

Second on our list is the Argentine Football Association fan token (ARG) which soared by also 15% in the last 24 hours. ARG is the biggest riser out of all the national fan tokens at the time of writing, according to Coingecko.

The token rose to a 7-day high on the day and currently stands at $6.4. In fact, ARG’s market cap also added over $7 million in the last seven days. Notably, in the last 14 days, ARG has surged by 36% and over 175% in the last year.

However, despite the bullish price action, ARG is still down about 25% from its all-time high in July 2021. Additionally, it’s worth noting that ARG fan token was created after the national team partnered with Chiliz.

3 Portugal National Team Fan Token (POR)

Portugal’s national team fan token (POR) also rallied significantly in the last 24 hours. Data from Coingecko revealed that the token soared by 10% and currently stands at $4.8.

Currently, the 8th largest fan token by market cap, POR has value has increased by more than 226% in the last year. At the time of publication has a market cap of $15.3 million with a 24-hour trading volume of $7.2. Additionally, POR has a circulating supply of 3.2 million POR coins and a total supply of 20 million.

4 Spain National Football Team Fan Token (SNFT)

The Spain national fan token (SNFT) unlike other tokens was down by 2% to $0.45 after a brief rally last week. Currently, the 12th largest fan token by market value, SNFT could not maintain its brief rise, after surging by about 18% in the last two weeks.

Data from Coingecko indicated that the token market cap has lost around $1 million in the last hour. Furthermore, SNFT token currently has a 24-hour trading volume of $360 thousand with a circulating supply of 24 million SNFT coins and a total supply of 99.4 million.

5 Peruvian National Football Team Fan Token (FPFT)

The Peruvian National Football Team Fan Token (FPFT) is also up, even though it is not playing in the FIFA World Cup in Qatar. The FPFT was up by 5% to $0.088, according to data from Coingecko.

Additionally, for more news on cryptocurrency and if it will replace precious metals soon, click here.