Argentina, World Cup Champion, Embarks on Metaverse Project

The Argentine Football Federation (AFA) has embarked on its journey towards Web3 fan engagement by partnering with Upland, an NFT-based virtual real estate game. This collaboration offers AFA fans an opportunity to access digital collections and a virtual space for online gatherings.

AFA President Claudio Fabian Tapia expressed in a statement, “The Argentine Professional League has eagerly anticipated the opportunity to leverage new technologies to enhance the fan experience.”

New source of income

AFA President, commenting on the partnership, noted that this agreement allows collaboration with top-tier professionals in the field of new technology and digital products. He added, “This partnership will open up a new revenue stream for all participating clubs.”

It has more than 3 million users

Upland, a game centered around the purchase and sale of virtual lands corresponding to real-world locations, has attracted over 3 million sign-ups. The startup behind this Metaverse game successfully raised $18 million in a funding round led by Animoca Brands in November 2021. At that point, the company’s valuation reached $300 million.

After the World Cup ended, ARG also turned its direction down

During the FIFA World Cup in Qatar, Argentina’s fan token experienced a surge in value, but it witnessed a decline shortly after Argentina’s victory.

The ARG fan token reached its peak at $6.40 on December 18, the day of the World Cup final match. However, it failed to maintain this level and subsequently crashed. By December 20, the ARG token had plummeted by 58 percent, dropping to $2.67.

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