According to the FIFA president Gianni Infantino, this World Cup will be the best the world has seen.
Will it really? We don’t know quite yet.
But what we do know is that this World Cup is somewhat special for the world of crypto.
In today’s article we will discuss how the 2022 World Cup is related to crypto projects like Algorand, Chiliz, Crypto.com & Binance. We will also look at how it affected the market price of different cryptocurrencies.
So, let’s get right into it, starting with… 👇
Chiliz connecting teams & their fans
Chiliz is an ambitious project – its goal is to take something that existed forever and make it better. We are talking about watching sports, which Chiliz is set to make more engaging and interactive for the viewer.
By adding blockchain technology into the mix, Chiliz gives fans the power to influence their favorite teams. This entails multiple opportunities, from voting on the design of team merchandise to changing the goal celebration song.
Chiliz is an blockchain that uses the $CHZ token as an exclusive on-platform currency. This token can then be used to purchase different teams’ fan tokens that are in turn used to influence their respective teams.
So, what role does the Fifa World Cup play in this project? Well, it drives social interest and serves as a basis for new people to buy into Chiliz and start interacting with their favorite teams.
Before the start of the championship, social anticipation drove the $CHZ price up by 15%, but it has since declined over 24%. The World Cup has just started though, so we will definitely be keeping our eye on Chiliz and how it will be doing throughout the next couple weeks. 👀
Socios – Putting Fan Tokens to use
Socios is an app and a crypto platform that lets you exchange fan tokens tied to different sports teams as well as engage and influence these teams.
As mentioned before, Socios is built on the Chiliz blockchain and uses $CHZ as its main currency. The app includes a multitude of features, such as:
- Socios Marketplace – used for exchanging fan tokens
- Socios Token Hunt – an Augmented Reality experience for collecting different tokens
- OpenSea storefront – used for purchasing unique sports-related NFTs
And of course, through the app you can influence your favorite sports teams by customizing their merchandise, entrance and goal celebration songs, and much more.
Algorand – A new FIFA sponsor
Algorand is a digital blockchain and cryptocurrency that carries the ticker $ALGO.
It is considered to be the one of the hottest blockchain platforms this year due to it being able to outperform Ethereum’s transaction speed while also being the greenest high-performance blockchain around.
Thanks to this, Algorand has partnered up with FIFA, as they mean to demonstrate how the blockchain can serve as the catalyst to elevate global sporting events.
And just as with $CHZ, $ALGO has rallied in the weeks before the World cup, breaking the $0.3 mark on the 19th November. It has since tumbled over 24%, unable to overcome the overall market pressure caused by the FTX downfall among other problems.
It is also important to note that though Algorand is officially partnered with FIFA, it will not be advertised during this World Cup’s games, meaning that the exposure it gets is quite limited. 🤔
Advertising during matches is reserved for major sponsors, however, one of which we are going to look at next. 👇
Crypto.com – The Main Sponsor
Crypto.com is the fastest-growing crypto exchange on the market, with well over 50 million users worldwide. It rivals other market leaders like Binance through its cheap fees and good security.
And this year it was selected to be one of the main sponsors of the 2022 World Cup – a big moment for crypto! You can now see Crypto.com’s banners shining during the games, for the entire world to see.
In addition to that, Crypto.com has partnered with Visa to facilitate payments on Crypto.com debit cards. And to celebrate this new development, the two companies decided to auction a total of five NFTs based on the most famous goals of the previous World Cups. The auction will take place during the FIFA World Cup 2022.
Binance’s Football Initiatives
Binance also launched a new crypto price index known as the Football Fan Token Index. Its main role is to track the market performance of the fan tokens that can be found listed on Binance’s sport market in USDT. 📊
Binance has also launched its “Football Fever 2022” a new online challenge for football fans to take part in. This will result in a shared prize of $1,000,000 in tokens, limited edition NFTs and more. 💰
Crypto projects participating in the World Cup 2022 have caused somewhat of a split in the crypto community.
Some point to the shortcomings of FIFA as an organization as well as Qatars controversial history so as to say – choose wisely who represents cryptocurrencies for the wide masses. 🧐
Others rightfully talk about the great amount of attention this whole ordeal will bring to the crypto market. Fifa is a worldwide organization that can indeed be very instrumental in bringing crypto to mainstream consumers. 🤝
But in the end – we believe that the FIFA partnership is just the beginning of the wide-scale crypto exposure. So we advise you to form your own opinion on the situation in the wake of what’s to come in the future. And of course, follow our socials to get the latest updates from the world of crypto.
And if you decide to buy or sell any of the crypto tokens mentioned above – make sure to check out Guardarian website.
With us you can buy and sell over 300 different cryptos with no registration & no hidden fees! Just choose what you want to buy and how you want to pay and your assets will be on their way to your wallet in no time!
So come give us a try at www.guardarian.com and as always – good luck and safe investing! ✨