Argentina’s football fans token price dropped by 31% after they lost to Saudi Arabia.
After an unexpected turn of events in the first game of the FIFA World Cup, the price of Argentina’s football fans token (ARG), which lets token holders vote on club decisions, fell by a large amount.
The ARG price went down after Argentina’s national football team lost to Saudi Arabia 2-1 on November 22. At the start of the match, you could buy ARG for about $7.21. But because the team didn’t do well, the price of the ARG tokens fell by 31% to $4.96.
Even though the stock dropped a lot during the game, ARG sold for about $5.36 at the end of the match. At the time of this writing, ARG costs $5.21, which is a price increase of 29.52% over the last 24 hours.
The fact that the ARG price went down shows that many Argentinian fans were unhappy with the team and sold their ARG tokens. The Argentine Football Association and Chiliz worked together to make ARG, which is an ERC-20 token. Socios, the Chiliz fan token exchange, started an ARG.
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To buy fan tokens from Socios, customers must first buy Chiliz native tokens (CHZ) and then trade them for the fan tokens they want.
Price Of NFTs
On the other hand, the price of a non-fungible token (NFT) collection called “The Saudis,” which has nothing to do with the football team, went up a lot.
The price of NFTs in the collection went up by 52.6% during the game, from 0.196 Ethereum (ETH) at the start to 0.3 ETH at the end. When this was written, “The Saudis” sold for 0.229 ETH, which is about $267.
Even though everyone was excited about the FIFA World Cup, a cryptocurrency research firm called Delphi Digital found that the price of Chiliz (CHZ) tokens and fan tokens for the football teams dropped by a lot.