ARG Token Doubles as Argentina Advances to Copa America Final

Argentina is set to advance to the finals of the Copa America football tournament after the country’s fan token, ARG, more than doubled its market value on Tuesday.

According to data platform CoinMarketCap, the price of the Argentine Football Federation’s cryptocurrency has risen 107% to $2.32 since the team’s 2-0 win over Canada, reaching its highest level since May 30. The token is up more than 70% in the last 24 hours. The token’s market value has risen to $27.85 million, the second-highest among football fan tokens, but still falls short of the $32.4 million record set ahead of the 2022 Qatar World Cup.

At press time, the token’s 24-hour volume stands at $23.57 million, nearly four times more than the largest football token by market cap, the Paris Saint-Germain fan token.

The ARG-Turkish lira (ARG/TRY) pair traded on centralized exchange Paribu accounts for 88% of the total volume over the last 24 hours. The ARG-Chiliz token (ARG/CHZ) pair listed on Chiliz.net accounts for just 0.17% of global activity.

Chiliz.net is a trading platform for all sports and entertainment tokens in partnership with Chiliz ($CHZ) and Socios.com. The Argentine Football Federation used Socios.com, a fan engagement platform powered by the Chiliz blockchain, to launch the ARG token in 2021.

Token holders gain access to unique team events, experiences and VIP services, including meeting the team’s players and access to the Estadio Monumental, a football stadium in Buenos Aires, Argentina known for its rich history.