As the FIFA World Cup 2022 is nearing, fan tokens have undergone a trend reversal printing, double-digit overnight. Chiliz (CHZ), in particular, has posted double-digit gains in both the daily and weekly charts.
The FIFA World Cup 2022 will commence on November 20; therefore, 21 days before the event, sports clubs and fans have increased their activity.
Chiliz is a tokenized voice platform that empowers sports fans and helps manage their favorite sports, teams, and esports organizations.
The price of Chiliz has increased by over 15% since fan tokens lead a fresh wave of a trend reversal in the slowly recovering crypto market.
At the time of writing, CHZ is priced at $0.22, up 15.7% in the last 24 hours and up 26.6% across the previous seven days, according to data from CoinMarketCap.
This price surge can be mainly attributed to the upcoming FIFA world cup 2022. CHZ is also believed to follow bullish momentum and outperform altcoins and meme coins.
Given the massive price spike, Chiliz is now among the top 100 cryptocurrencies by market cap, followed by Trust Wallet Token (TWT) with a 6.03% gain and Quant (QNT) with 4.55% price gain.
The FIFA World Cup 2022 excitement has also triggered the price action of other fan tokens.
The Argentine Football Association Fan Token (ARG) has jumped 25% in the last 24 hours, along with the Portugal National Team Fan Token (POR), up by 19%.
Both national teams of these tokens are expected to participate in the World Cup.
Other fan tokens like Lazio Fan Token (LAZIO), FC Porto (PORTO), Atlas FC (ATLAS), Novara Calcio (NOV), Apollon Limassol (APL), and Team Heretics Fan Token (TH) have also surged in value.
Bitcoin's (BTC) price currently struggles below $21K, and its dominance is also waning; therefore, this seems to be an excellent opportunity for traders to scoop up fan tokens at a discounted price ahead of the event.
ZKSea, the first-ever marketplace for non-fungible tokens (NFTs), has launched a metaverse game for FIFA World Cup enthusiasts.
This game, Football Metaverse, will enable enthusiasts to mint NFTs of the participating countries in the FIFA World Cup. The ZKSea team will allocate one hundred twenty percent of net sales to a special rewards pool capped at 10,000,000 ZKS tokens in equivalent.
The prize pool will be divided between the owners of NFTs associated with the champion and other successful teams once the 2022 FIFA World Cup winner is announced.
The World Cup-themed NFTs can be purchased with Ethereum (ETH), Wrapped Bitcoin (WBTC), U.S. Dollar Tether (USDT), and ZKS, the native token of the ZKSpace ecosystem.
As an extra gamification layer, the platform will display the number of rewards expected from minting each NFT on the specific page with real-time updates.
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