With Real Madrid Club lifting the Champions League trophy again at London's Wembley Stadium, Europe's top club competition has come to a successful conclusion. However, the summer of football is not over. The European Cup, held every four years, has slowly begun. Another top event on the European continent has pushed the enthusiasm of fans to another climax.
Different from the bustling atmosphere in the football circle, the cryptocurrency circle is extremely bleak at this time. Many friends started to deploy various football concept coins including $CHZ, $Porto, and $Lazio as early as February. However, what is shocking is that from February to March, during the golden period of general growth, the growth of these football concept coins has not even outperformed the market. Bitcoin increased by 67% from February to March, and Ethereum increased by 60%, not to mention other secondary mainstream currencies, which basically doubled. However, $CHZ, $Porto and other copycat currencies only increased by 50%, and their holders were furious. And these holders are not the worst off. Some investors entered the market at the end of May to take advantage of the popularity of the European Cup, but as we all can see, the European Cup has been played for a week since June 15, and these football concept coins have not risen, and there is no sign of stopping the decline. The price has been falling all the way, with the maximum decline approaching 40%. These investors are really depressed and shout "blockchain scam". It would be better to use the money to buy sports lottery. If you keep it in the currency circle, it will fall every day. If you sell it, you worry that it will rise in the next few days. If you don't sell it, you have to worry about it continuing to fall. It's really better to buy lottery tickets. Whether you make a profit or a loss is a matter of 2 hours, and you feel more involved. So let's analyze why sports coins don't rise.
Why don’t sports coins rise? The good news turns into bad news, and the overall market performance is poor.
Obviously, any speculation is an expectation. When this expectation is actually implemented, it will become a negative. The same is true in the football sector. Before the start of the European Cup, this expectation became the driving force for the rise of tokens. We can see that the football concept coin has completed the entire rising process from mid-April to the end of May. Before the start of the European Cup, the good news turned into bad news, and early investors began to sell off. This decline should not have been so rapid, but with the release of the Federal Reserve's macro data, the expectation of a rate cut in 2024 has further declined. Bitcoin still failed after the fourth attempt to break through the 72,000-73,000 price resistance range. Therefore, the market has been in a downward correction cycle since entering June. Because of the ETF, the off-site funds have not been transferred from Bitcoin to the altcoin, resulting in insufficient liquidity of the altcoin and a comprehensive collapse. In this general decline, the football concept coin is inevitably greatly affected by market sentiment, and the price directly plummets.
Previous performance disappointed investors and has failed to attract market attention.
In the general market rally in February, the increase in football concept coins was far less than investors' expectations, and even lower than the increase in the overall market, which dealt a heavy blow to investors and caused the market to pay less and less attention to this sector. We can see clues from the market trading volume data. Take $CHZ as an example. On the eve of the 2022 World Cup, $CHZ's weekly trading volume was around US$2.5 billion, but on the eve of this year's European Cup, that is, in May, the weekly trading volume was only around 80 million. It can be seen that the market has lost interest in the sports football sector, resulting in a significant reduction in token liquidity.
The banker does nothing
In fact, most of the football concept coins were created by Binance, including Lazio $Lazio, Porto $Porto, Barcelona $Bar, etc. In order to promote and publicize, Binance spent a lot of money in the past few years to negotiate cooperation with well-known football clubs and develop fan tokens, but the results were not ideal. These fan coins did not have much effect except for some insignificant benefits, so these tokens have been in a state of decline since they were launched, and there is almost no liquidity at ordinary times. These coins are basically owned by Binance itself, and the amount of coins held by Binance addresses usually reaches more than 80% of the total amount of tokens, so these fan coins are all strong controlled currencies. However, Binance did not take any measures to pull the market before this European Cup, as if even they had forgotten the existence of these tokens. Then again, since Binance paid a huge fine to the US government, it seems that Binance is now in a state of not giving a penny and taking as much as it can. All new coins listed on Binance peak at the opening, and then fall endlessly. After Binance took the project's share, it is estimated that it was directly thrown away at the opening, which also made Binance users resentful. So, in this situation, will Binance still pull these football fan coins? Since buying coins does not make money, as Web3 people, what other ways can we have to participate in this European Cup? That's right, since buying coins is not as good as buying footballs, why not buy them directly in Web3?
Next, I would like to recommend a gambling project on the chain, Fanta Goal. Of course, I am not encouraging you to engage in gambling. The reason for recommending this project is that this game is quite interesting. Players can use their own experience to purchase NFT stadiums to obtain airdrop rewards. It also gives people who know football a space to display their skills. At the same time, the stadium NFT purchased by players will be converted into player NFTs in the future to create their own clubs. The gameplay is similar to Web2's football manager. If you don't want to buy NFTs, the game currently also has a free guessing gameplay to share the 100,000 USDT bonus, so no matter whether you know football or not, you can find a gameplay that suits you in this game. Next, I will talk about this football game on the chain in detail.
On-chain football game - Fanta GoalFanta Goal is a fantasy + simulation business game. The game announced a round of financing information last week, raising $3 million with a valuation of $25 million. The lead investor is IDG, and participating institutions include Kucoin, OPTA, etc.
There are three main modes of play in Fanta Goal: free fun guessing pre-season event, players can participate in guessing the ball for free, including wins, losses, scores, etc., and will receive corresponding points rewards after guessing correctly. After the European Cup, the top 100 in the standings will share a prize pool of 100,000 USDT, which is equivalent to a zero-cost event. It does not take up much time and can make everyone feel more involved when watching the game. It is recommended that everyone participate.
How to invest in stadium NFT
In this gameplay, the entire stadium is divided into 108 NFT assets, which represent all stadiums in the European Cup and the America's Cup. After players purchase the stadium NFT, different events on the stadium plot they hold in the real game will get different scores. Therefore, each NFT has a corresponding score after the game. The statistics of these scores include: passing, dribbling, defense, shooting and other data in this NFT area during the game. The system will score the NFT based on these data, and distribute rewards based on the points ranking after the European Cup. The top 100 players will share 10 million $FGC tokens. This token is the parent token of the project. It has confirmed the IEO with the Kucoin exchange and will be launched on Kucoin and Bitget at the same time in the future.
The NFT floor price is currently 300u, and the price has fallen by 30% since its release on June 12. The price of NFT in a better region is around 380u. We assume that the points of a single account can be ranked in the top 100, and 20,000 $FGC can be obtained. According to the cost of 380u, the price of a single $FGC reaches 0.019u to recover the cost. According to the initial circulation of 645 million, the market value will reach 12 million US dollars. The tokens listed on Kucoin and bitget may also take out a part of the tokens as marketing and exchange shares, or the project party will have other airdrop activities to increase the initial circulation before the token is launched. Therefore, the actual initial circulation may be more than the official data. At present, there are relatively few gambling projects on the chain, and there are basically no sports projects, so we can’t find projects that can match the market value. It is impossible to judge whether Fanta Goal can reach a market value of 12 million US dollars, so everyone participating in this gameplay may suffer a small loss.
Traditional fantasy gameplay
In this gameplay, players can create and manage their own football team, which is built from real-world football players and scores points based on the performance of these players in actual games. The main gameplay includes selecting the starting lineup, formulating tactics, adjusting the lineup and participating in the game, so players can compete with other fans and improve their rankings by demonstrating football tactical insight and strategic ability in the game. The game has set up a reward mechanism. Based on player performance and team scores, players have the opportunity to win different types of rewards, such as $FGC tokens, ranking points or other NFT rewards. This gameplay has not yet been launched, and interested friends can keep an eye on the project.
Let's stop talking about the game here. This round of bull market is different from the previous ones. The external financial environment is tense due to the Federal Reserve's failure to cut interest rates. The launch of Bitcoin and Ethereum ETFs has restricted the entry of funds and prevented them from flowing into altcoins. The game of existing funds in the market has led to a situation where various altcoin sectors do not take over from each other. These reasons have slowed down the pace of the altcoin bull market and reduced people's expectations for altcoin bulls. In this case, it may be a better choice to switch altcoins to Bitcoin and Ethereum to obtain a stable income, and then use a small part of the funds to invest in blockchain games to increase the income multiples. This may be the correct way to open this round of bull market.
