Deal with the New England Patriots seals the deal for Web3 Altcoin, which surges by 25% this week to fend off market troubles
A Web3 altcoin is surging this week amid news that it inked a sponsorship deal with the New England Patriots football team.
Through a multi-year partnership with Kraft Sports + Entertainment, the blockchain infrastructure solution company Chain (XCN) is now the “official blockchain and Web3 sponsor” of the Patriots, the New England Revolution soccer team, the Patriots’ homefield Gillette Stadium and Patriot Place – an open-air shopping center built around the stadium. Upon hearing that it signed a sponsorship agreement with the New England Patriots football club, an alternative Web3 currency has seen a recent surge.
The blockchain infrastructure solution provider Chain (XCN) is now the "official blockchain and Web3 sponsor" of the Patriots, the New England Revolution soccer team, the Patriots' home stadium Gillette Stadium, and Patriot Place, an outdoor shopping complex constructed around the stadium, thanks to a multi-year partnership with Kraft Sports + Entertainment.
The price of XCN, Chain's native governance and utility asset, increased from $0.067 before the news to $0.075 after it, or by almost 12%. By market capitalization, the 37th-ranked cryptocurrency is currently trading at $0.0778, up over 4% in the last day and over 25% from its weekly low of $0.619.
For Kraft Sports + Entertainment, Murray Kohl, vice president of sales,
"With Chain's cutting-edge blockchain technology, we'll try to innovate in the same way. In ways that have never been possible before, our supporters will be able to interact with the Patriots and Revolution.
Cloud, ledger, and non-fungible token (NFT) services are all provided by Chain. The business most recently collaborated with Coinbase to develop the exchange's "learn-to-earn" programme, which awards users with XCN for passing a series of tests and learning modules.
Despite this week's price gain, XCN is still more than 57% below the all-time high of almost $0.18 that it reached in late May.
Article by: Suorse
