Saudi Arabia’s NFT Collection goes up in price after beating Argentina
The price for the NFT collection with a Saudi Arabia theme significantly increased after the national team defeated Argentina. One of the biggest upsets in World Cup history occurred when the squad won its opening group match 2–1. The victory also represents the Arab country’s most noteworthy performance in the competition’s history.
The Saudis’ sales increased by more than 380% because of the national team’s success. In contrast, since the commencement of the World Cup, the value of the Argentine Football Association Fan Token has decreased by over half.
Argentina was widely regarded as the big favorite to win the competition due to their 36-match unbeaten streak. The South American team, however, fell one game short of Italy’s record for the most unbeaten national team matches due to the unexpected loss to the minnows.
The outcome was more detrimental to the Argentine fan tokens because fewer people are interested in the ARG token. Since Argentina failed in its opening game, the token has lost 47% of its value. Argentina is still considered to be the favorite in their group, which also includes Poland and Mexico, but that might change if they move on to the next stage.
Does Saudi Arabia’s NFT Collection Have Room to Grow?
The Saudis, a free-to-mint collection of 5,555 NFTs, sold out in a matter of hours in July of last year. The 5,555 avatars are all 2D pixelated in a CryptoPunks-like fashion. At the time of writing, the token’s floor price was 0.2292 ETH, or $269. Last July, the Saudis collection quickly sold out; as of right now, 9,949 ETH had been earned from sales of the collection.
If the national team continues to perform so admirably, interest in these NFTs may continue to rise. Mexico and Poland will be Saudi Arabia’s next opponents.
Like cryptocurrency coins, many NFT collectibles are greatly influenced by speculation. And it requires the appropriate trigger to pique the public’s curiosity. To tap into the sizable football fan population, projects are increasingly focusing on fan tokens and team NFTs.
This past week, OKX introduced the World Cup NFTs. The NFTs let fans pick the outcome of a game and win a portion of the prize pool.
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