The floor price of 'The Saudis', a Saudi Arabia-themed NFT, spiked by 50%.
As of November 23, 11, fan token sales for the month were approximately $2022 billion, with all-time sales surpassing the $6,9 billion mark.
Based on the results of the matches, the corresponding token price can fluctuate wildly.
Argentina's 2-1 loss to weaker team Saudi Arabia sent shockwaves across the globe, including in the crypto sector.
The Argentinian Football Association's fan token ARG has dropped significantly, down more than 25%.
These tokens were created by the Chiliz cryptocurrency company and launched on the Socios exchange.
Delphi Digital, a crypto research firm, highlighted these developments in a November 22 tweet.
Football Fan Tokens have cratered over the past 3 days as the FIFA World Cup 2022 Begins:
The index (FOOTBALL) is down 21% over the period. pic.twitter.com/y7tb72R3Et
— Delphi Digital (@Delphi_Digital) November 21st