Brazil Fan Token Down 60% After Losing to Croatia

[trytrades69]

Brazil Fan Token launched by the Brazilian government and the Brazilian football federation
BTF Token cryptocurrency is a national fan of Brazilian football. It dropped 50% in a few hours and about 60% in 24 hours after losing against Croatia at the FIFA World Cup in penalty shootout.

The Brazilian government and football federation launched the Brazil Fan Token on August 25, 2021. The token offers an exclusive experience for investors and sports fans around the world.

Read more at: https://trynews.id/brazil-fan-token-turun-60-setelah-kalah-dari-croatia/

[Baofeng]

What do you expect? This is just a hype token so obviously it will react to any sport events that Brazil is involved.

So maybe the fans and token holders are disappointed that their team lost in the World cup against Croatia and that is the main reason why suddenly it went down 60%. I'm not surprised by the price movement, it is what it is. It was created for their sporting fans so a single mistake will trigger this kind of downfall.

[janggernaut]

Yeah, this type of coins is going nowhere. It can get pump when the team has won or dump like now when team has lose. We can't expect anything from this coin price as it's just pump and dump from their team result.  My advice is stay away from this kind of coin, as it has nothing to add and grow in the future.

[Bitstar_coin]

Fans aren't happy with the result obviously so they are reacting by dumping their fan base tokens, to be honest I was also very shocked that such a great team as the Brazilians will lose to Croatian team. This world cup has been given some shocking and unexpected results.
Who would have thought Brazil won't be among the finalist instead they are taken out in the knock out stage.
At the end of the day,it is a game, it will only go one way and not both ways and this time Brazil got kicked out. The fans will have to accept things as they are, as sad as it is. I would have really love to see them at the finals.

[abel1337]

Brazil Fan Token launched by the Brazilian government and the Brazilian football federation
BTF Token cryptocurrency is a national fan of Brazilian football. It dropped 50% in a few hours and about 60% in 24 hours after losing against Croatia at the FIFA World Cup in penalty shootout.

The Brazilian government and football federation launched the Brazil Fan Token on August 25, 2021. The token offers an exclusive experience for investors and sports fans around the world.

Read more at: https://trynews.id/brazil-fan-token-turun-60-setelah-kalah-dari-croatia/

It's pretty expected since this is a fan/meme/sh*t token, so many kind of names but one thing is for sure, This kind of token will go dump and die sooner or later. Tokens like this doesn't have that much utility so who will buy and use this? Does this mean that this token will only rise when the Brazil Football team wins a game? Kinda bad in my opinion, It would be better to just gamble and bet the money to a betting site atleast there are sure returns when the team you like wins. I'm not just fan of this kind of token. I know that there are many die hard football fans out there and some want to make profit out of it but I will suggest to just put your money on something logical like betting or straight up into bitcoin.

[Jating]

Fans aren't happy with the result obviously so they are reacting by dumping their fan base tokens, to be honest I was also very shocked that such a great team as the Brazilians will lose to Croatian team. This world cup has been given some shocking and unexpected results.
Who would have thought Brazil won't be among the finalist instead they are taken out in the knock out stage.
At the end of the day,it is a game, it will only go one way and not both ways and this time Brazil got kicked out. The fans will have to accept things as they are, as sad as it is. I would have really love to see them at the finals.

Yes, this is like the first reaction of a country that has a huge fan based of football. This could be one of the shocking results in the World Cup but their fans should accept the lost. And others have pointed out, this is just a meme coin, so we need to be very careful as this could be used for pump and dump and this is a classic example.

As the World Cup come to an end to them, I don't think there will be any used of this token, so again another reason to dump it huge.

Nevertheless, the same with Croatian team, they have their own token if I'm not mistaken.

https://www.croatiaweek.com/croatian-football-federation-present-vatreni-crypto-token/

[jossiel]

These fan tokens are going nowhere.

Whenever there's a news about it, it might be up a bit but whenever it goes against to the favor of it, then expect that it will be going down for sure.

The fate of tokens like this are known and that's why it's no big surprise that it has lost that much when the team Brazil lost to Croatia.

[nurilham]

It makes sense if Brazil Fan token drops because the fans feel disappointed with Brazil team. They probably dump the price on the market by selling most of their Brazil Fan tokens. But I think this price drop will be temporarily only, the price seems to increase again gradually.

Anyway, this type of fans token is very easy to influence by the current situation of the football team. That's why I am not interested to invest in fans tokens. I think investing in fans tokens (ex: Brazil fan token) is almost the same as gambling. 

[goaldigger]

This is just a seasonal token, now what? What will happen now that they are no longer part of the competition. You can expect a total drop of its value because their journey in world cup is already over. I don’t bought any fan token because I know the risk of it and I know its useless, lucky to those who are able to take profit instantly.

[KennyR]

These fan tokens are going nowhere.

Whenever there's a news about it, it might be up a bit but whenever it goes against to the favor of it, then expect that it will be going down for sure.

The fate of tokens like this are known and that's why it's no big surprise that it has lost that much when the team Brazil lost to Croatia.

These are just tokens that are developed to make market movements relative to an event. Brazil fan tokens doesn't have any other real-time usage. So, everything happening with the token depends on the performance of the Brazil team. It is obvious to have the drastic decline in the market of Brazil fan token.

BFT doesn't have good trading volume and it's ath surprised me. It have reached $1.7 and now it is close to the all time low value. For fans who support Brazil team can got for it with the hope of Brazil winning the next World Cup. The market of the token in the past could've increased as Brazil is the most favourite to win the 2022 World Cup.

[bitbollo]

what would be the "use case" or utility of such a token?
does it hypothetically allow access to discounts or privileges for hodlers?
is it a sort of collectible "sticker" to keep in e-wallet? or is it simply a speculative product?

Unfortunately, in recent years we have seen an explosion of tokens of dubious utility (the vast majority of NFTs belong to this category). now let's see the consequences, with these "pumps and dumps"...

[jossiel]

These fan tokens are going nowhere.

Whenever there's a news about it, it might be up a bit but whenever it goes against to the favor of it, then expect that it will be going down for sure.

The fate of tokens like this are known and that's why it's no big surprise that it has lost that much when the team Brazil lost to Croatia.

These are just tokens that are developed to make market movements relative to an event. Brazil fan tokens doesn't have any other real-time usage. So, everything happening with the token depends on the performance of the Brazil team. It is obvious to have the drastic decline in the market of Brazil fan token.

BFT doesn't have good trading volume and it's ath surprised me. It have reached $1.7 and now it is close to the all time low value. For fans who support Brazil team can got for it with the hope of Brazil winning the next World Cup. The market of the token in the past could've increased as Brazil is the most favourite to win the 2022 World Cup.

The developers are the ones that made the most in here.

They're on the timing because they know that World Cup is coming so they did this for the purpose of fans to go to the extent that they'll buy a token that's dedicated for the team.

But with such tokens, we know what's going to be the end of it and many would be getting rekt for sure if that's the way on how they do investments.

[retreat]

It dropped 50% in a few hours and about 60% in 24 hours after losing against Croatia at the FIFA World Cup in penalty shootout.

This seems very reasonable considering that the Brazil Fan Token is a token that has no backing and only relies on the name "Brazil" and demand from supporters of the Brazilian team. When the performance of the Brazilian team gets worse, this will affect the price of this token and vice versa, when the performance of the Brazilian team improves, the price of this token also increases.

Most of the Fan tokens are like this, the price follows the performance of the team, and it seems that these tokens have no future and also do not provide any benefits for their holders. But for people who like to "gamble" this seems to be a suitable token for them.

[tvplus006]

...Most of the Fan tokens are like this, the price follows the performance of the team, and it seems that these tokens have no future and also do not provide any benefits for their holders. But for people who like to "gamble" this seems to be a suitable token for them.

It's hard for me to say what the price of the fan token depends on, but if you look at the cost of the Argentine Football Association Fan Token (ARG), it definitely does not depend on the successful game of the team. So the price of the ARG coin before the start of the World Cup was about $9, and now, when the Argentine national team reached the semi-finals of the championship, the price of the coin is $3.78.

[tokeweed]

Brazil Fan Token launched by the Brazilian government and the Brazilian football federation
BTF Token cryptocurrency is a national fan of Brazilian football. It dropped 50% in a few hours and about 60% in 24 hours after losing against Croatia at the FIFA World Cup in penalty shootout.

The Brazilian government and football federation launched the Brazil Fan Token on August 25, 2021. The token offers an exclusive experience for investors and sports fans around the world.

Read more at: https://trynews.id/brazil-fan-token-turun-60-setelah-kalah-dari-croatia/

Edit:  Come to think of it, buying these fan tokens could be the safer bet than making your bets on the matches themselves esp with how unpredictable the World Cup can be as shown by Croatia and Morocco.  I bet if they had they're fan tokens, they'd be going through the roof after their wins at the quarter finals.  Lol.

Imagine betting 100 bucks on Brazil and losing it all vs buying 100 bucks worth of fan tokens.  With fan tokens it could either be an easy 3x win or losing just 50%.  Not a bad deal imho.

[fullhdpixel]

what would be the "use case" or utility of such a token?
does it hypothetically allow access to discounts or privileges for hodlers?
is it a sort of collectible "sticker" to keep in e-wallet? or is it simply a speculative product?

Unfortunately, in recent years we have seen an explosion of tokens of dubious utility (the vast majority of NFTs belong to this category). now let's see the consequences, with these "pumps and dumps"...

OP only said that it offers an exclusive experience. Maybe it let's you get closer to that team and then it can give you discounts to the merchandise that they are selling. Not sure if that can be considered to as a utility but that was better than if the token is built for pumping and dumping alone. They don't mention if it's an NFT so I won't say that it was some sort of a collectible but it was still up to the person if he will treat it as one.

It's only amazing that this coin movement is related to the result of the match. Maybe people who owned the token sold their token out of disappointment but that tells them that they are only going in for the hypes. They are not a solid fan.

[wheelz1200]

Brazil Fan Token launched by the Brazilian government and the Brazilian football federation
BTF Token cryptocurrency is a national fan of Brazilian football. It dropped 50% in a few hours and about 60% in 24 hours after losing against Croatia at the FIFA World Cup in penalty shootout.

The Brazilian government and football federation launched the Brazil Fan Token on August 25, 2021. The token offers an exclusive experience for investors and sports fans around the world.

Read more at: https://trynews.id/brazil-fan-token-turun-60-setelah-kalah-dari-croatia/

Lol did you really expect this to be anymore more than just some sort of fad because of the world cup.  There is absolutely no reason this token even needs to exist.  I mean honestly I'm surprised that anyone even buys this to begin with.  Greed makes people do silly things.

[Bitstar_coin]

These fan tokens are going nowhere.

Whenever there's a news about it, it might be up a bit but whenever it goes against to the favor of it, then expect that it will be going down for sure.

The fate of tokens like this are known and that's why it's no big surprise that it has lost that much when the team Brazil lost to Croatia.

If they are well structured, it will go somewhere, a lot of things in crypto are just in the early stage, it is the same as when many thought btc and crypto are going nowhere, it has been more than a decade since btc was active and since then many other developments in the crypto space has taken form.
If fan tokens are to be the utility of football clubs, they should be well structured in a manner it has a direct connection to the club in utility and has better token economics that will guide the growth of the token. they should be more than just a pump-and-dump when the club performs better or loses a match.

[Reatim]

These fan tokens are going nowhere.

Whenever there's a news about it, it might be up a bit but whenever it goes against to the favor of it, then expect that it will be going down for sure.

The fate of tokens like this are known and that's why it's no big surprise that it has lost that much when the team Brazil lost to Croatia.

and expect more of this dumping as the event going close to end , and expect total dumping once the game ended..
sad to see this happening from investors who already knew the very moment they invested , or those who have been lured badly for the sake of profiting and now a loser.

[Pierre 2]

I think people should not blindly dive into fan tokens or this type of issues will occur. Think about it friends. You literally are buying into hype. Its something very similar to gambling in my opinion when someone buys fan token of a team. There should be use cases for fan tokens to consistently raise their market cap. Otherwise they are like "i bought this because i bet them to win tonight's match".
In Brazil's case, they were the best team but eliminated so, coin quickly lost hype.