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Monday, January 30, 2023

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Token fan of the Brazilian national team (BFT) melts more than 14% after defeat against Cameroon

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The fan token of the Brazilian team is official, the result of a partnership between SBF and Bitci (Image: Disclosure/ CBF)

After losing to Cameroon this Friday (2), the Brazilian team saw its fan token melt by more than 14%. The national team fan token is currently traded at US$0.194.

Before the World Cup match in Qatar, the fan token was up 35% at its daily peak. Between 2am and 3pm this Friday, the token went from $0.166 to $0.225.

Brazil token selection
(Image: Coingecko)
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However, after the start of the match, the token started to melt. A large part of this can also be linked to profit-making, combined with a poor performance by the selection on the pitch.

The fan token has broken out of its daily peak and currently stands at $0.19, down more than 12%.

Brazil token selection
(Image: Coingecko)
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The fan token of the Brazilian team is official, the result of a partnership between the SBF and Bitci, a competitor of Chiliz (CHZ) in the market for issuing fan tokens.

Source: Moneytimes

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