Key Points
- The World Cup is underway, and cryptocurrency companies are taking part.
- OKX has launched an NFT tournament where users can mint three NFTs for free.
- Brazil is the favorite, but European teams have won every tournament since 2002.
The World Cup season has arrived.
The World Cup, the world’s biggest sporting event, is truly a global spectacle. Although this edition has been clouded by concerns over human rights and allegations of irregular awarding, 32 nations have still come together to decide who will wear the crown for the next four years.
Cryptocurrency uses the World Cup to increase exposure
The World Cup also has a significant impact within the cryptocurrency space. Cristiano Ronaldo once launched an NFT collection on Binance. That release drew secondary attention because Binance CEO Changpeng Zhao had a public spat on Twitter with Sam Bankman-Fried, which occurred around the time of the scandalous collapse of FTX, so the story was somewhat overshadowed by other headlines.
Then Lionel Messi stepped into the spotlight—his goal against Mexico aside—and Sam Bankman-Fried remained a persistent newsmaker. This saga keeps resurfacing.
In the NFT arena, OKX launched the OKX Football Cup, a competition where players mint NFTs to compete for prizes. While I have criticized the limited intrinsic value of NFTs as part of the metaverse, I do enjoy football.
Despite my reservations about NFTs, the chance to mint three team NFTs for free appealed to me as a fun way to engage with the tournament and see which team might lift the trophy. Technically, OKX’s NFTs are not entirely free—there are gas fees. On Ethereum those fees can be high, which led me to refrain from minting personally.
Still, as long as you mint before the group stage ends on December 3, you can enter the competition by paying only the gas fees.
Who will win the World Cup?
To pick the best teams to mint, I first mapped each team’s probability of winning the tournament. I used bookmaker odds as of Tuesday, November 29 (this was before the England vs United States match confirmed one team’s group-stage elimination).
Brazil emerged as the most likely winner at 27.4%. Personally, I’d love to see them win. The Brazilian national team is iconic, and they haven’t lifted the trophy since 2002, so it would be a joy to watch them claim it again.
Since Brazil beat Germany 2-0 in Yokohama in 2002, European teams have won the last four World Cups. Italy took the trophy in 2006 (a tournament notable for Zidane’s infamous red card), Spain triumphed in 2010 as part of their era of international dominance, Germany beat Argentina in 2014, and France defeated a resilient Croatia in 2018.
Why mint Brazil?
Deciding which teams to mint is straightforward: Brazil, France, and Spain. Their win probabilities are 27.4%, 14.7%, and 12.2%, respectively, and together they account for a 53% chance that one of them will lift the trophy.
That said, the fun in picking favorites is the uncertainty. My heart leans toward Argentina—seeing the maestro Lionel Messi lift the ultimate prize would be a memorable moment. But based on performance, Argentina’s chance looks to be around 10%.
Being from Ireland, a nation not competing in the tournament, I find myself cheering for two South American teams. I’ll enjoy strong showings from Spain or France as a European supporter, but I’m secretly hoping South America reclaims the title.
Deep down I think Spain or France could do it. Brazil is unquestionably talented, yet somehow feels untrustworthy—injuries like Neymar’s can sway outcomes unpredictably.
Ultimately, that unpredictability is why people watch the matches.