Saudi Arabia themed NFT collection dubbed The Saudis saw a massive jump in price after the national team beat Argentina. The team won their group opener 2–1, marking one of the largest upsets in World Cup history. The win is also the most significant result the Arabian nation has achieved in the history of the tournament.
Following the exploits of the national team, The Saudis, saw its sales jump by over 380% on OpenSea. On the contrary, the Argentine Football Association Fan Token has lost almost half its value since the start of the World Cup.
Argentina had a 36-match unbeaten streak and many considered them heavy favorites to win the tournament. However, the surprising loss to the minnows meant the South American team fell one game short of breaking Italy’s record for the most matches unbeaten by a national team.
The result had a more adverse 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 past few days since Argentina’s defeat in its opening match. This might change if Argentina advances to the next round, as they remain favorites in a group that also features Poland and Mexico.
Can Saudi Arabia NFT Collection Keep Rising?
The Saudis was a free-to-mint collection of 5,555 NFTs which sold out within hours last July. The collection of 5,555 avatars is in a 2D pixelated style resembling CryptoPunks. The token has a floor price of 0.2292 ETH, or $269, at the time of writing. The Saudis collection sold out within hours last July and the collection’s sales volume currently totals 9,949 ETH.
Interest in these NFTs may well keep growing if the national team maintains its magnificent performance. Up next for Saudi Arabia are Poland and Mexico.
Many NFT collectibles, like crypto coins, 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 football fan base.
Earlier this month, OKX launched World Cup NFTs. The NFTs give fans get to predict the winners of a match and earn a share of the pool prizes.