We are already in 2022, for the World Cup. As criticism of the hosts, Qatar, keeps coming, fans have been more and more excited for the start of the biggest sports event in the world. Blockchain-based projects can reap benefits from the World Cup, too. We’ve compiled a shortlist of the three most popular cryptocurrencies that are commonly referred to as “FIFA tokens” for your convenience.
Will The 2022 FIFA World Cup Be Good For Cryptocurrency?
People often put the FIFA World Cup at the top of the list of international sports competitions. There has been some criticism of the tournament’s organizer, but interest in the competition and attendance in Germany are both on the rise.
Sponsors can always count on a large amount of exposure during the World Cup of Football. It’s possible that crypto initiatives may be able to attract significant attention for the first time at the 2022 World Cup. because many ongoing initiatives and digital currencies now interact with World Cup governing organisations or have a focus on sports.
Is The FIFA World Cup Enough To Spark A Rise In Cryptocurrency Prices?
Over the past two weeks, most cryptocurrencies have taken a major hit due to the FTX crash. A general lack of trust is plaguing the cryptocurrency sector. The 2022 World Cup could change several initiatives.
As a result of the media hype, the value of some cryptocurrencies may surge in the next few weeks. After the FTX catastrophe, this might provide these coins with a fresh surge that lasts beyond 2023.
Which Token Stands To Gain The Most From This World Cup?
The 2022 FIFA World Cup is expected to have a significant impact on three major cryptocurrencies, which can be purchased through exchanges like crypto.com or Bitcoin Prime. Therefore, given the current low rates in the crypto market, investments in such enterprises should be seriously examined.
- Chiliz (CHZ)
A so-called “fan token” built on the Ethereum blockchain, Chiliz Coin is a cryptocurrency for Chiliz fans. You may find it on the socios.com domain. Socios is a community platform where fans may interact and where tokens representing various fandoms, as well as NFTs, can be purchased.
- Algorand (ALGO)
The environmental friendliness and long-term viability of the Algorand blockchain project have made it widely renowned. Furthermore, blockchain and FIFA are official partners. The World Football Association is only one of many worldwide partners for the cryptocurrency, which has been hailed as a “green” blockchain. This project also includes a FIFA wallet and FIFA NFTs.
- Chronos (CRO)
Chronos Coin was a Crypto.com coin. In the wake of the FTX catastrophe, the cryptocurrency exchange supporting the CRO has had to contend with a lot of investor mistrust.
Qatar hosted Sunday’s 2022 FIFA World Cup opening ceremony. Ecuador welcomed the host nation for the tournament’s first game. The four-week event ends on December 18. Crypto.com, on the other hand, is a World Cup sponsor in 2022. Consequently, the platform is increasing its emphasis on forming strategic alliances with big sports organisations and sporting events. In the next several weeks, this may also help the Chronos Coin.
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