Saudi Arabia NFT Collection Explodes! Thanks to Argentina’s big win
Sales of The Saudis, a Saudi Arabia NFT Collection explode after beating Argentina 2-1
The Argentine Football Association fan token fell 25% after Argentina’s national team suffered a shock loss to Saudi Arabia at the 2022 World Cup, ending their 36-match winning streak. In contrast, Saudi Arabia’s NFT collection explodes when “The Saudis” saw a massive price jump after the national team beat Argentina. The team won their group opener 2–1, marking one of the biggest upsets in World Cup history. The win is also the most important result the Arab nation has achieved in the tournament’s history.
The Argentine Football Association’s Fan Token (ARG), the Argentine football fan token developed by fan token firm Socios, is down more than 25% on Tuesday after Argentina lost 1-2 to Saudi Arabia in its first match at the 2022 World Cup. The loss marks the end of Argentina’s 36- matches unbeaten run.
Argentina took the lead after Lionel Messi’s penalty goal in the first half. But Saudi Arabia responded in extraordinary fashion in the second half, scoring two goals in six minutes. The Saudis had two shots on goal all game and both went in.
Following the exploits of the national team, The Saudis, sales jumped by over 380% at OpenSea. On the contrary, the Argentine Football Association Fan Token has lost almost half of its value since the start of the World Cup.
According to NFT News Today, the result had a more negative effect on the Argentine fan tokens, as the ARG token has seen less interest from fans. The token lost 47% of its value in the last few days since Argentina’s defeat in the opening match. This could change if Argentina progress to the next round, as they remain favorites in a group that also features Poland and Mexico.
Saudi Arabia NFT rally explodes: but for how long?
The Saudis was a free coin pool of 5,555 NFTs that sold out in a matter of hours last July. The collection of 5555 avatars is in a 2D pixelated style similar to CryptoPunks. The token has a base price of 0.2292 ETH, or $269, at the time of writing. The Saudi collection sold out in a matter of hours last July, and the collection’s sales volume currently totals 9,949 ETH.
Crypto tokens have become popular among gamblers in this year’s World Cup. Chiliz (CHZ), the native token of the Chiliz blockchain that powers Socios.com, the largest token creation platform for sports fans, surged 39% in the week leading up to the competition as fans basked in a new wave of hype.
However, the hype quickly died down and other fan tokens, including those from Portugal (POR) and Brazil (BFT) all fell after Monday, underperforming both bitcoin (BTC) and ether (ETH).
Interest in these NFTs may well continue to grow if the national team maintains its stellar performance. Next for Saudi Arabia are Poland and Mexico.
Many NFT collectibles, like cryptocurrencies, are heavily influenced by speculation. And it takes the right catalyst to spark mass interest. Fan tokens and team NFTs are a growing trend as projects seek to capitalize on the huge soccer fan base.
Earlier this month, OKX World Cup launched NFTs. The NFTs give fans the chance to bet on the winners of a match and earn a share of the pool prizes.
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