The FIFA World cup 2022 is one of a kind as it continues to boost the interest in cryptocurrency associated with teams.
According to a Paris-based Crypto data firm Kaiko, the average daily trading volume for these tokens increased to around $300 million in November from $32 million in October.
Lionel Messi’s Argentinian team token plunged 25% to $5-26 after the team lost to Saudi Arabia in its opener. Still, the Argentinian captain’s fan token is down 22% as fans were relieved by the team’s win over Mexico.
Meanwhile, Cristiano Ronaldo’s team surged 119% to $7 in the 10 days leading up to the tournament but was almost halved in value despite beating Uruguay.
For some, these tokens provide an opportunity to engage with the site and receive perks such as bonuses. Whereas for others, tradable coins such as the fan tokens offer new investment opportunities.