Messi Mania as Argentina Win Triggers Third Consecutive Fan Token™ Burn 

Lionel Messi scored in his third consecutive game, Argentina won their third consecutive match, and Argentina’s AFA Fan Token™ ($ARG) was subject to its third consecutive token burn of the competition on June 28.

A total of 13,159 $ARG Fan Tokens™ were permanently removed from the total supply following Argentina’s third group stage match against Jordan. 

After three wins from three, $ARG has been subject to three straight token burns, with a total of 39,877 $ARG tokens having been removed from the total supply so far, as part of Chiliz’ Burn to Glory campaign.

The tokenomics impact of Burn to Glory, combined with the team’s winning run, may have contributed to the 17.4% growth registered by Argentina’s AFA Fan Token™ ($ARG) in the past few days.

Messi Scores; Argentina Win; Tokens Burn

Argentina’s win over Jordan was the seventh-straight World Cup match in which Lionel Messi has scored, marking yet another record for the Argentine.

Messi’s 19 all-time World Cup goals is another new record, achieved after his goal against Jordan made it six goals in three group games. 

Argentina are one of just three teams that have maintained a 100% winning streak during the World Cup so far, alongside Mexico and France. Argentina is the only team with a Fan Token™ to remain unbeaten so far.

READ ALSO: Which Fan Token™ Nations Have Qualified for the Last 32?

The more Argentina, Spain, Portugal, and Belgium win (Scotland and South Africa are already out of the competition) during the World Cup, the more of their Fan Tokens™ will be burned, increasing their scarcity and reducing sell pressure.

The team that wins all of their World Cup games all the way to the final stands to have as much as 24% of their Fan Token’s™ total supply removed forever. 

Such a drastic change to tokenomics could have a major impact on price discovery, as a notable reduction in an asset’s supply may cause traders to reassess that asset’s valuation based on the principle of supply and demand.

$ARG Token Gains 17% 

From June 25 until the final whistle of Argentina’s game against Jordan, the valuation of the AFA Fan Token™ ($ARG) increased by 17.4%, climbing from $0.212 to $0.249.

The valuation of $ARG fell by 50% in the weeks leading up to the World Cup amid a broader market dip. However, following Argentina’s opening game, the $ARG token kickstarted a revival that has seen it gain 21% in the past ten days.

Argentina’s next game is against Cape Verde on July 3. Following their performances so far, Argentina have leap-frogged England and Spain to become second-favourites to win the competition among most bookmakers, just behind France.

Greg Thomson: Fan Tokens Market Reporter