As the World Cup approaches, significant increases in fan tokens are observed.
Socios.com’s CHZ token has increased by 13.4% in the last 24 hours, while the tokens of the Portugal and Argentina national teams have increased by 50.1% and 31.7%, respectively, in the past week.
World Cup Impacted Fan Tokens
In the crypto money industry, which went into a deep crisis with the collapse of FTX, fan tokens began to come to the fore. Significant increases were recorded in fan tokens just days before the World Cup.
POR and ARG tokens are also on the rise, as CHZ is up 13.4% in the last 24 hours. Especially the appearance of Cristiano Ronaldo and Lionel Messi seems to have caused the fans of the players to invest in fan tokens. ARG rose 9.3% in the last 24 hours, while POR rose 11.7%, according to Coinecko data.
Fan tokens are cryptocurrencies that usually appeal to fans of a sports team. Token holders can earn match tickets and participate to some extent in decision-making on various club-related issues.
The rally of fan tokens started just before the 2022 FIFA World Cup, which will kick off in Qatar on November 20. The organization will end with the final match to be held on 18 December.
