Crypto's World Cup Presence Fails to Score with Fan Tokens

The 2022 World Cup saw controversy surrounding a VAR decision in a match between France and Senegal. Kylian Mbappé went down under a challenge from Sadio Mané, but the referee did not call for a penalty. The VAR review agreed with the referee's assessment.

This incident highlights the growing presence of cryptocurrency in global football. Kraken was recently announced as the Official Crypto Exchange Supporter of the 2026 FIFA World Cup, despite this marketing push neither France nor Senegal have official crypto fan tokens tied to their national teams for this tournament.

Mbappé has been an ambassador and investor in Sorare, a fantasy football platform that issues non-fungible tokens (NFTs), since June 2022. In August 2024, his social media account was compromised by hackers who used it to promote a fraudulent token called MBAPPE, which surged to a market cap of $460 million before collapsing.

The incident demonstrates the significant influence that athlete branding can have in token markets, with even a fake endorsement capable of generating hundreds of millions in perceived value. However, despite this potential, fan tokens tied to national teams remain scarce at the World Cup level due to regulatory hurdles and concerns over commercial rights.