Switzerland just did something it hasn’t done in 72 years. On July 7, the Swiss national team defeated Colombia 4-3 on penalties after 120 minutes of scoreless, nail-biting football to reach the World Cup quarterfinals for the first time since 1954.

Fan tokens and Chiliz ride the World Cup wave

The Chiliz (CHZ) token, which powers the fan token ecosystem on the Socios platform, surged 28% in the wake of the match. Chiliz has positioned itself as the infrastructure layer for sports fan tokens, partnering with major football clubs and leagues to create tradeable digital assets that let fans participate in club decisions and access exclusive rewards.

The 28% spike was driven by a combination of increased trading volume and a broader uptick in fan engagement tied to the knockout rounds.

Prediction markets had a field day

Prediction markets, including platforms like Polymarket, facilitated active betting on the Switzerland-Colombia match outcome. These decentralized platforms allow users to wager on binary outcomes using crypto, essentially turning every World Cup match into a real-time trading event.

The 0-0 draw through 120 minutes made this particular market especially volatile. As the match dragged on without a goal, the implied probabilities on both sides shifted dramatically, with prediction market participants repricing in real time as each kick landed or missed.

What this means for crypto investors watching the tournament

Switzerland now faces Argentina in the quarterfinals. Fan token pumps tied to sporting events tend to be ephemeral, with surges in trading volume often driven by momentum traders and speculators rather than fundamental demand for the underlying token utility.

Major sporting events also serve as onboarding funnels for crypto. Someone who creates a wallet to bet on a World Cup match or buy a fan token is now a crypto user with a wallet address, bridged funds, and an understanding of the basic mechanics.