Saudi Arabia’s NFTs have seen renewed demand after their big victory against Argentina.
After an astonishing win for Saudi Arabia against Argentina, crypto enthusiasts have shown increased demands for the country’s tokens, whereas Argentina has seen demand for its tokens plummet by almost 21%.
Sports tokens had gained immense demand ahead of the football world cup in Qatar, but few would have imagined just single-match results could influence team tokens to such extents.
The non-fungible token collection for the Saudi Arabia team, called ‘The Saudis’, witnessed a humongous 387% upwards rally post the team’s win. On the other hand, Argentina’s token, ARG, witnessed a drop, as mentioned. The unexpected result of the match could have also led to this price movement since Argentina, one of the favorites to win the tournament, was also led by the crowd’s favorite, Lionel Messi.
NFT investors are expected to continue participating actively in the trading of sports tokens throughout the tournament. After the match, Saudi Arabia has been under jubilation, with even a holiday being declared to commemorate the win. The world cup has been nail biting so far for soccer fans and crypto enthusiasts alike, and people expect more such occurrences coming up in the crypto space as the other teams start playing.