Uruguay’s players and fans belted out their national anthem before La Celeste’s Group H opener against Saudi Arabia, marking the team’s first match of the 2026 FIFA World Cup.

Kraken secured the title of Official Crypto Exchange Supporter of the 2026 FIFA World Cup on June 9, just days before the tournament kicked off on June 11. The partnership puts a major crypto brand front and center at an event expected to draw billions of eyeballs across North America, the largest World Cup ever staged.

Fan tokens surge, but Uruguay is sitting on the bench

Chiliz, through its Socios.com platform, has rolled out national team fan tokens tied to competing nations. Argentina has $ARG. Portugal has $POR. These tokens let holders participate in fan engagement activities and, increasingly, are linked to performance-based mechanics.

For the 2026 World Cup, Chiliz introduced new performance-linked burn mechanics for national team tokens. When a team performs well, some tokens get permanently destroyed, reducing supply and theoretically boosting value.

Uruguay, however, doesn’t have a fan token on the Socios.com platform. For a nation with two World Cup titles and a squad that consistently punches above its weight on the global stage, that’s a notable gap.

Fans who want crypto exposure to La Celeste’s tournament run don’t have a direct vehicle. Instead, they’re likely channeling that energy into CHZ, the native token of the Chiliz ecosystem, which serves as the backbone for all Socios fan tokens.

CHZ and the World Cup trading playbook

Major international football tournaments have historically been good for CHZ. Trading volumes tend to climb as speculation around team performances bleeds into the fan token market. The 2026 World Cup is no exception, with notable moves in CHZ observed earlier in the year as anticipation built.

Uruguay’s Group H draw pairs them with Spain, Saudi Arabia, and Cape Verde.

Chiliz’s performance-linked burn mechanics add a layer of sophistication that earlier fan token models lacked. Rather than tokens simply existing as tradeable collectibles, their supply now responds dynamically to real-world outcomes.

What this means for crypto investors

Kraken’s visibility at the World Cup could drive a wave of new retail users into the crypto ecosystem, particularly in markets across North America where the matches are being hosted.

For investors watching the fan token space, Uruguay’s absence from Socios.com is worth tracking. If La Celeste makes a deep run in the tournament, speculative anticipation tends to flow into CHZ as a proxy bet.

Fan tokens are tightly correlated with team performance, which means a group stage exit can crater trading interest overnight. The performance-linked burn mechanics that boost value during winning streaks work in only one direction. A loss doesn’t burn tokens; it burns enthusiasm.