The Argentina Football Association Fan Token (ARG) has dropped about 50% in the past 24 hours to trade at about $2.81 on Monday. The sharp drop coincided with the end of the 2022 World Cup in Qatar, which saw Argentina crowned soccer champions. Nevertheless, the ARG token has gained about 111.1% over the past year, while most digital assets are seeing significant losses.
The resilience of fan tokens has been significantly boosted by the recently concluded 2022 World Cup in Qatar. In addition, the soccer scene is followed by billions of fans worldwide. As a result, the trading volume of fan tokens and the leading infrastructure provider Chiliz (CHZ) has increased significantly over the past two months.
With the end of the World Cup, trading volume on fan tokens and CHZ is expected to decrease significantly in the coming months. As a result, market strategists believe that fan tokens may continue to fall in the first quarter of 2023.
The future of fan tokens after Argentina narrowly escapes France
The future of fan tokens is huge, given that FIFA has members in 211 national associations. With global soccer leagues looking to blockchain technology and the crypto-currency market to monetize their global fan base, Chiliz and his ilk predict exponential growth in the coming years. Moreover, it’s already a billion-dollar industry with financial backing from crucial crypto funds.
The drop in the ARG token is probably due to yesterday’s win, which many global enthusiasts believe France should have won. On the other hand, the Paris Saint-Germain Fan Token (PSG) has not dropped as much as ARG in the past 24 hours. Notably, the PSG token – the soccer club that French star Kylian Mbappé plays for – has dropped about 9.2 percent in the past 24 hours.
ARGENTINA ARE WORLD CHAMPIONS!!! 🇦🇷#FIFAWorldCup | #Qatar2022
– FIFA World Cup (@FIFAWorldCup) December 18, 2022
Despite a historic World Cup victory, Argentina is ranked fourth by FIFA, after Brazil, Belgium and France. As such, more countries are likely to adopt the tokenization industry like Argentina, to engage global fans on a personal level. In addition, the ARG token ecosystem plans to venture into the NFT and metaverse industry.
According to data provided by Coingecko, Argentina Fan Token $ARG has a market capitalization of approximately $9,882,374, with a total offering of 20,000,000.
Nevertheless, the future of fan tokens remains under the microscope of global cryptographic regulations. This is even more true today, after the collapse of FTX and FTT, which has left most people with questions about crypto-currency tokens.
In particular, countries are working together to regulate the crypto-currency market, which poses a significant threat to the traditional banking industry.
Meanwhile, crypto-currency operators will continue to speculate on fan tokens before adopting mainstream utility.