protos.com
Fan tokens based on members of England’s Euro 2024 team, including Jude Bellingham, manager Gareth Southgate, and captain Harry Kane, have all tanked in price ahead of the make-or-break quarter-final clash against Switzerland on Saturday.
The tokens were created to cash in on the hype around the quadrennial tournament. However, it didn’t take long for them to be labeled as scams. Indeed, speaking about Captain Harry Kane token ($CHK), Russian cybersecurity provider Kaspersky said:
“Hackers are taking advantage of the popularity of Euro 2024 to sell personalized coins featuring the most popular players, promising impressive returns.”
The coin has dropped almost 99.9% since its all-time high on June 6.
Other tokens based on the squad, including $JUDE (Jude Bellingham) and $GARETH (Gareth Southgate) haven’t faired well either. Bellingham managed to save England from an embarrassing tournament exit with a spectacular last-minute bicycle kick goal on Sunday.
The goal caused a spike in the price of $JUDE, increasing it by almost 77% to $0.00004237, however, it dropped back down to $0.00001885 just an hour later.
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Overall, the token has crashed by roughly 98% from a high of $0.00062392 to $0.00001344 today, with a current 24-hour trading volume of $54. The Gareth Southgate token has also crashed by 95% since its all-time high on June 10.
Another token has taken the likeness of Pepe the Frog and combined it with a football to supposedly ‘Bridge the gap between football & web3 one meme at a time.’ This project has also crashed 95% from its May 19 all-time high of $0.059475.