{"id":343746,"date":"2024-07-15T14:01:03","date_gmt":"2024-07-15T13:01:03","guid":{"rendered":"https:\/\/coinfomania.com\/?p=343746"},"modified":"2024-07-19T10:09:07","modified_gmt":"2024-07-19T09:09:07","slug":"the-spain-national-fan-token-experiences-a-20-dip-following-spains-victory-at-uefa-euro-2024","status":"publish","type":"post","link":"https:\/\/coinfomania.com\/the-spain-national-fan-token-experiences-a-20-dip-following-spains-victory-at-uefa-euro-2024\/","title":{"rendered":"The Spain National Fan Token Experiences a 20% Dip Following Spain\u2019s Victory at UEFA Euro 2024"},"content":{"rendered":"\n<p>After Spain won the <a href=\"https:\/\/coinfomania.com\/cryptocom-backs-out-of-500m-uefa-deal\/\">UEFA<\/a> Euro 2024 on Sunday after beating England 2-1, Spain National Fan Token (SNFT) \u2014 the official cryptocurrency of the Spanish national team \u2014 went down in value by 20% in just one day.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83c\udfc6 Spain wins the Euro 2024 final! \ud83c\udf89 A thrilling 2-1 victory over England in Berlin, with Nico Williams scoring the opener. This marks Spain\u2019s fourth European Championship title. \ud83c\uddea\ud83c\uddf8\u26bd<br><br>\u270d\ufe0fThis moment has been recorded on <a href=\"https:\/\/twitter.com\/hashtag\/HistoryDAO?src=hash&amp;ref_src=twsrc%5Etfw\">#HistoryDAO<\/a>.<br><br>Mint Link: <a href=\"https:\/\/t.co\/oEv8wNLlcP\">https:\/\/t.co\/oEv8wNLlcP<\/a><a href=\"https:\/\/twitter.com\/hashtag\/Euro2024?src=hash&amp;ref_src=twsrc%5Etfw\">#Euro2024<\/a>\u2026 <a href=\"https:\/\/t.co\/By5eiGcj2K\">pic.twitter.com\/By5eiGcj2K<\/a><\/p>&mdash; HistoryDAO $HAO (@History_DAO) <a href=\"https:\/\/twitter.com\/History_DAO\/status\/1812801750400999516?ref_src=twsrc%5Etfw\">July 15, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>This might seem strange, but it\u2019s actually something that happens quite often in the world of these special kinds of money called cryptocurrencies. It\u2019s known as \u201csell-the-fact\u201d losses. This means that when something good happens, the price of the cryptocurrency goes down because people start selling it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-uefa-triumph-and-the-snft-slide\">The UEFA Triumph and the SNFT Slide<\/h2>\n\n\n\n<p>Even though Spain\u2019s soccer team <a href=\"https:\/\/www.aljazeera.com\/gallery\/2024\/7\/15\/celebrations-as-spain-crowned-european-champions-for-a-record-fourth-time\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">won their fourth European Championship title<\/a>, the SNFT didn\u2019t do so well. Its value dropped to $0.024, which left people wondering why.<\/p>\n\n\n\n<p>The SNFT was first introduced in 2021. It was created by the Royal Spanish Football Federation and a Turkish company called Bitci. The goal was to make the experience of being a fan more exciting and unique. But why did its value drop so suddenly?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-sell-the-fact-phenomenon\">The &#8220;Sell-the-Fact&#8221; Phenomenon<\/h2>\n\n\n\n<p>Well, researchers have noticed a pattern with these fan tokens. They usually go up in value before big tournaments and then go down afterward. People buy the tokens because they hear a rumor that something good might happen and then sell them after the fact. Before the UEFA Euro 2024 final, the SNFT went up by over 70%, reaching $0.03845. But after Spain won, its value went down a lot, with the SNFT\u2019s market capitalization standing at a mere $565,000 at the time of the UEFA championship, <a href=\"https:\/\/www.coingecko.com\/en\/coins\/spain-national-fan-token\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">per CoinGecko data<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/docsz\/AD_4nXdJQbXILJAwpEdrLkbdtUIV6dqmKtMXxM73Hl8fSFieyNhqmYalQGVrAugrhs49oLfOdtFd1m8E7BF9ehNfaFtbfNQmWSxsZBud6qo5rtevUBl3Uwsc6UZ2PLDbFw_QDgDnEapLmXjMlW6B0KBrTqTB2EAPzqsY1UlvjcH-LPNETJtEQit9fA?key=zIOlOvgo7L6xBIRKkbVt-Q\" alt=\"\" style=\"width:528px;height:auto\" \/><\/figure>\n\n\n\n<p><em>Spain Fan Token (SNFT) Chart. Source: CoinGecko&nbsp;<\/em><\/p>\n\n\n\n<p>Some <a href=\"https:\/\/scholar.google.com.vn\/citations?view_op=view_citation&amp;hl=en&amp;user=1U7gT78AAAAJ&amp;citation_for_view=1U7gT78AAAAJ:M3ejUd6NZC8C\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">experts<\/a> think a team\u2019s performance doesn\u2019t affect the value of its <a href=\"https:\/\/coinfomania.com\/lionel-messi-inks-20m-deal-crypto-platform-socios\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">fan token<\/a>. These tokens are usually very unpredictable. Even though they might do well on the first day they\u2019re available to buy (sometimes going up as much as 150%), they usually don\u2019t do as well as other cryptocurrencies like <a href=\"https:\/\/coinfomania.com\/bitcoin-btc-surpasses-silver-in-market-cap-as-price-hits-new-ath\/\">Bitcoin in the long run<\/a>.<\/p>\n\n\n\n<p>Interestingly, bigger tournaments like the Champions League seem to have an effect on fan tokens. Maybe it\u2019s because more people watch these events, and they\u2019re seen as being more important. However, smaller, local tournaments don\u2019t have the same effect. So, even though Spain won the UEFA Euro 2024, it didn\u2019t stop the SNFT from going down in value. It\u2019s important to understand that each tournament can affect the value of the token in different ways.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After Spain won the UEFA Euro 2024 on Sunday after beating England 2-1, Spain National Fan Token (SNFT) \u2014 the [&hellip;]<\/p>\n","protected":false},"author":69,"featured_media":343749,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1808,5],"tags":[11,51,1479,2502],"ppma_author":[2366],"class_list":["post-343746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","category-crypto-news","tag-crypto-news","tag-cryptocurrencies","tag-nft","tag-token"],"acf":[],"authors":[{"term_id":2366,"user_id":69,"is_guest":0,"slug":"ayanfe","display_name":"Ayanfe Fakunle","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/93a3a58ce298159a3ebee896ecd6a734?s=96&r=g","first_name":"Ayanfe","twitter":"","instagram":"","linkedin":"https:\/\/www.linkedin.com\/in\/ayanfe","user_url":"","last_name":"Fakunle","facebook":"","description":"Ayanfe Fakunle is an expert content writer, journalist, and editor at the intersection of crypto, finance, and web3. His mission is to make crypto accessible, engaging, and exciting for everyone."}],"_links":{"self":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/343746"}],"collection":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/comments?post=343746"}],"version-history":[{"count":2,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/343746\/revisions"}],"predecessor-version":[{"id":345166,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/343746\/revisions\/345166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media\/343749"}],"wp:attachment":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media?parent=343746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/categories?post=343746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/tags?post=343746"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/ppma_author?post=343746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}