Following Argentina’s shock defeat to Saudi Arabia at the FIFA 2022 World Cup in Qatar, the country’s fan token ARG dropped by as much as 30%.

Affected by Argentina's 1:2 upset loss to Saudi Arabia in the World Cup, the Argentine football fan token ARG fell by more than 30%, to a minimum of $4.56. The “Saudis” NFT project saw a 15% rise in the floor price. https://t.co/JdhsTMPh63

— Wu Blockchain (@WuBlockchain) November 22, 2022

According to CryptoSlate data, the token traded for as low as $4.96 before rebounding to above $5.