This Web 3.0 Coin Announces New Stakeholder: Price Shot!

A coin offering Web 3.0 holders for blockchain-based applications has announced a new partnership. The announcement was enough for the price to rise in double digits in the bear market.

Another Web 3.0 coin lands on the football field

Football teams continue to cooperate with Web3 projects in order to establish a closer bond with their sides. The latest partnership was in the middle of AC Milan and NFT gaming platform MonkeyLeague. Now, blockchain infrastructure analytics provider Chain has announced that it has signed a sponsorship agreement with the New England Patriots football group. Following the news, the price of Web3 cryptocurrency XCN token peaked.

Blockchain infrastructure solutions provider Chain (XCN) is now the “official Blockchain and Web3 sponsor” of Patriots, New England Revolution football group, Gillette Stadium, the Patriots’ residential stadium, and Patriot Place, an outdoor shopping complex built around the stadium. This collaboration was made through a multi-year partnership with Kraft Sports + Entertainment. Shortly after the announcement, the XCN price started to rise.

Chain (XCN) flooded with investors after news of stakeholder

Chain’s native cryptocurrency, XCN, rose from $0.067 before the announcement to $0.075, or almost 12%, after the announcement. According to its market cap, the 37th-ranked cryptocurrency is currently experiencing a slight correction. At one-on-one, the week’s baseline is trading around $0.075, up over 25% from $0.619.

Koindeks.com As you follow, the affiliate was the last of the recent football team collaborations. Thanks to these agreements, fans can have less works as NFT as well as physical works. Murray Kohl, vice president of sales for Kraft Sports + Entertainment, had this to say about the subsidiary:

We will try to innovate one-on-one with Chain’s latest Blockchain technology. In ways never before possible, our supporters will be able to interact with the Patriots and the Revolution.

Cloud analytics, ledger and NFT services will now all be on Chain’s network. The company most recently partnered with Coinbase to launch the exchange’s “learn and earn” program, which rewards users with XCN for passing a series of tests and learning modules. Despite this week’s price increase, XCN is still more than 57% below its peak at the end of May. We watched the XCN price rally to $0.18 last year.

More and more sports clubs are adopting Blockchain technology

Crypto sponsorships at professional sporting events both at home and abroad provide a valuable flow of funds. In 2021, Crypto.com agreed to pay $700 million to rename the Staples Center in Los Angeles. The following year, when the FIFA World Cup in Qatar took place, Crypto.com agreed to a five-year sponsorship deal with the AFL for $25 million. Later, the stock market also bounced back from the nearly $500 million deal it made with the European Football Federation Champions League in September.

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