FIFA World Cup Influences Teams NFTs and Crypto Tokens
Football fan engagement makes waves in crypto token prices and NFT collections.
As the 2018 World Cup recorded more than 3.5 billion viewers, this year’s is projected to easily top that and any other leading sports event this year. With the most hyped-up sports event of the year, 20.5 million Americans are anticipated to place bets on the month-long football tournament.
According to the American Gaming Association, over $1.8 billion USD is estimated to be placed in bets by American adults during the current World Cup competition.
In July 2022, “The Saudis” launched as a free-to-mint Saudi Arabia-Themed NFT collection. With the recent unexpected Saudi Arabia victory against Lionel Messi’s Argentina team, The Saudis NFTs have seen its floor price rise by more than 25% as well as the collection’s market cap rising by approximately 24%.
On the flip side, the Argentine Football Association Fan Token (ARG) dropped over 20% within 24 hours after the team’s IRL loss.
As many fans were planning on the team’s win against Saudi Arabia, the token seemed to pick up prior support – raising the token price to $9 on November 18. After the team’s loss followed by the token’s dip, the ARG now hovers around $5.
With Portugal’s eighth World Cup appearance this year, many bought into Portugal’s fan token (POR) days before the event began. Yet, despite Portugal not playing its first match of the Cup yet, POR has already dropped from $7 to approximately $4.5 ahead of the team’s game.
Given 42% of football fans among crypto investors are interested in investing in sports NFTs, the World Cup has served as a bridge for sports enthusiasts and Web3.
When football is everything, impossible is (probably) nothing. https://t.co/A7MdsJcMOh
— Indigo Herz (@indigo_herz) November 14, 2022
Superstar rival, Cristiano Ronaldo was also pictured in Binance’s newest commercial airing during the World Cup for the launch of the footballer’s series of NFTs, “The CR7 NFT Collection.”
The animated NFT collection which launched on November 18 celebrates Ronaldo’s iconic legacy and success in football over the past two decades in the sport.
Your journey with @Cristiano Ronaldo begins here.
Join us on #BinanceUS to get started!
— Binance.US (@BinanceUS) November 18, 2022
With the start of Ronaldo’s possible last run at the World Cup trophy, the CR7 NFTs have accumulated over $250,000 USD in sales volume since mint on Friday.
FIFA has also accepted Crypto.com as a new Official Sponsor for this year’s World Cup. Visa also expanded its 15-Year FIFA partnership with Crypto.com for a Web3-driven campaign. Visa and Crypto.com’s “Masters of Movement” initiative started ahead of the games with five abstract NFTs inspired by the iconic goals of five legendary footballers.
The Masters of Movement experience is now currently taking place in Doha at FIFA’s Fan Festival where guests can participate in short-timed soccer matches and receive a free NFT — if able to successfully score a goal.