The Qatar World Cup is A Bright Spot in the Cryptocurrency Bear Market
It’s no secret that the cryptocurrency market has been in a slump for the past few months. But there’s one group of digital assets that’s bucking the trend: national soccer team fan tokens.
World Cup Qatar hype boosts fan token prices
Spain National Football Team Fan Token (SNFT) is currently the top gainer, with a price increase of 170% to a high of $0.54 on Nov. 19, nine days after bottoming out at $0.20.
Brazil National Football Team Fan Token (BFT) appears to be the crypto market’s second favorite fan token, with a price increase of 130% from $0.45 on Nov. 10 to over $1 on Nov. 19.
Portugal National Team Fan Token (POR) is third-best performer, with a price increase of 100% to $6 on Nov. 19, nine days after hitting lows of $3.10.
So what’s driving these price increases? It turns out, it’s all about supply and demand. You see, fan tokens are only available on a limited basis, and with interest in the FIFA World Cup at an all-time high, demand for these digital assets is through the roof. Couple that with the fact that there are only a handful of countries represented in the World Cup, and it’s no surprise that fan tokens are in such high demand.
In another words, these fan tokens show potential to continue its rally during the World Cup and its price should reflect how the National Football team performs.
What are fan tokens?
With so much interest in the World Cup, it’s not surprising that fan tokens are fetching such high prices. But what exactly are fan tokens? And how can you get your hands on some? Read on to find out.
Fan tokens are digital assets that represent a particular national soccer team. They’re available exclusively on the blockchain-based platform Socios.com, and can be used to vote in polls and surveys about their team, as well as to access exclusive content and experiences. Fans can also use their tokens to trade on decentralized exchanges.
So why would fans want to buy these tokens? For one thing, they offer holders a direct say in how their team is run. For example, holders of Barcelona’s fan token (BAR) were recently able to vote on which players should be included in the team’s starting lineup for an upcoming match.
In addition, fan tokens give holders access to exclusive content and experiences that they can’t get anywhere else. For instance, fans who hold Paris Saint-Germain’s fan token (PSG) will be able to attend an exclusive meet-and-greet with Kylian Mbappé later this year.
Finally, fan tokens also give holders discounts on merchandise and match tickets from their team. So not only do you get to feel like you’re part of your team’s inner circle, you also save money in the process!
If you’re looking for an investment that will make you some quick profits, national soccer team fan tokens might just be your ticket. With prices skyrocketing thanks to increased demand from World Cup fans, now is the time to get in on the action.
Spain will next play Costa Rica on Nov. 23 in the Group E category, followed by a standoff against Germany on Nov. 28.
Brazil’s first match is against Serbia on Nov. 25 in Group G, followed by a standoff against Switzerland on Nov. 28.
But don’t forget — these tokens are only available on a limited basis, so act fast before they’re all gone!
Join our communities
Subscribe DePro and get access to DeFi daily news and promotions.
You can go to our Website, Telegram channel, Telegram group, Twitter, and Facebook to get latest information.