JAKARTA The largest celebration of Qatar's 2022 world cup which will be held on November 20 has triggered an increase in fan token transactions for national teams in several countries. In addition, FIFA has also appointed Crypto.com as its official sponsor. Not only that, but Algorand (ALGO) was also selected as a blockchain partner for the 2022 World Cup in Qatar.
According to a Coinspeaker report, data from crypto market price aggregation platform, the Brazilian National Football Team (BFT) Fan Token is currently starting to increase by 1.9 percent in the last 24 hours and has recorded 11.7 percent growth in the last 7 days. Currently, BFT Fan Token is trading at 1.01 US dollars per token.
Not only Brazilian national team fan tokens, fan tokens belonging to the Argentine Football Association Fan Token (ARG) are also one of the best performing country fan tokens whose price is trading at the level of 5.19 dollars at the time of writing. ARG fan tokens rose 11.9 percent over the past 24 hours and have made 10.9 percent growth in the past week.
Meanwhile, the Fan Token of the Portugal National Team (POR), the Fan Token of the Spanish National Football Team (SNFT), and the Fan Token of the Peru National Football Team (FPFT) all also tend to be in the positive range. Each increased by 4.5 percent, 15.8 percent, and 25 percent for the last 7 days.
Fan Token currently represents a new path where holders can interact with their teams in ways that is impossible before. While tokens do not represent the equity ownership of the team concerned, holders gain exclusive access to events, meet and greet, and other initiatives that encourage fan ties with the national team.
Many people have even presented the emergence of fan tokens as an alternative to online betting as a way to measure interest and sentiment around teams that will participate in the World Cup. For example, a National Team whose chances of winning high trophies per their appearance in competition can see their fan tokens rise relatively higher than others.
The entry of cryptocurrencies including the national team's Fan Token into the world of football also strengthens fan ties in providing support for the participation of the national team in the 2022 World Cup which will be held in Qatar in November.
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