Argentina

The Argentina Football Association’s ARG token has emerged as the leading soccer fan token by trading volume, according to CoinMarketCap.

Significant Market Growth

Defending champions Argentina have advanced to the finals of the Copa America tournament, more than doubling the market value of the ARG token. The token’s price has surged by 107% to $2.32 following Argentina’s 2-0 victory over Canada. This marks its highest level since May 30, with a 70% increase in the past 24 hours alone. Its market value has now soared to $27.85 million, making it the second-highest among soccer fan tokens, though it remains below the record $32.4 million reached before the 2022 Qatar World Cup.

Leading Trading Volumes

The ARG token is also the most heavily traded among fan tokens. Its 24-hour trading volume stands at $23.57 million, nearly four times higher than that of the Paris Saint-Germain fan token, which has the highest market value among soccer tokens.

Dominant Trading Pairs

The ARG-Turkish lira (ARG/TRY) pair listed on Paribu, a centralized exchange, accounted for 88% of the total trading volume in the past 24 hours. In contrast, the ARG-chiliz token (ARG/CHZ) pair listed on Chiliz.net contributed just 0.17% of global activity.

The Role of Chiliz and Socios.com

Chiliz.net is the trading platform for sports and entertainment tokens partnered with Chiliz ($CHZ) and Socios.com. The Argentine Football Association partnered with Socios.com, a fan-engagement platform powered by the Chiliz blockchain, to issue the ARG token in 2021.

Unique Opportunities for Token Holders

Holders of the ARG token can access exclusive team activities, experiences, and VIP services, such as meeting the team’s players and visiting the Estadio Monumental in Buenos Aires, a stadium known for its rich history. Fan tokens like ARG represent the intersection of blockchain technology and sports, allowing market participants to gauge the financial and economic impact of major sporting events.

In the perspective of Yanis Varoufakis, former finance minister of Greece, Argentina’s president-elect, Javier Milei, is dismissed as “no anarcho-capitalist,” contrary to the belief of many libertarians. Varoufakis, now an economics professor, draws a vivid comparison, labeling Milei as a potential libertarian dictator akin to (Jorge Rafael) Videla, Argentina’s military ruler from 1976 to 1981, but dressed in libertarian ideology.

Varoufakis voiced his concerns following reports of Milei’s intent to fulfill his commitment to eliminate Argentina’s central bank. Milei, the right-wing victor of the November 19 poll, has also vowed to privatize the state energy company YPF and liquidate all public broadcast networks.

Milei is no anarcho-capitalist. Robert Nozick (author of ANARCHY, STATE & UTOPIA) was that. No, Milei is a new Videla in libertarian clothing determined to end the mere possibility of Argentinian democratic sovereignty. As for dollarisation vs inflation, it is like nuking a… https://t.co/QR2IZGC3A8
— Yanis Varoufakis (@yanisvaroufakis) November 20, 2023

#ARGWatch: In celebration of Javier Milei’s election victory, Argentines have headed to the streets, where they are ripping up their worthless pesos and using them as confetti.

Finally, it looks like Argentina will DITCH THE PESO & OFFICIALLY DOLLARIZE.pic.twitter.com/rVLol2ahcb
— Steve Hanke (@steve_hanke) November 20, 2023

Milei’s unconventional approaches to address Argentina’s challenges have attracted global attention, particularly from bitcoiners and crypto enthusiasts. His favorable comments about crypto assets have further endeared him to the bitcoin community.

However, Varoufakis took to X (formerly Twitter) to reject the perception of Milei as an anarcho-capitalist, asserting that the true proponent of this ideology is the American philosopher and author, Robert Nozick.

Anarcho-capitalism, as defined on Wikipedia, is an anti-statist, libertarian political philosophy advocating for stateless societies governed by “systems of private property enforced by private agencies.”

Despite Milei’s proposal to dollarize the economy receiving support from various quarters, including Johns Hopkins economics professor Steve Hanke, Varoufakis vehemently opposes this strategy to combat inflation. He analogizes it to an extreme measure, stating, “As for dollarization vs inflation, it is like nuking a country to get rid of Covid-19. Argentinians deserve our solidarity in the nightmare they are about to descend.”