Algorand (ALGO) prices rallied higher on May 3 after becoming FIFA's official blockchain solution provider. Nonetheless, the ALGO/USD pair continues to face selloff risks. High-profile partnership ALGO's price jumped 20% to $0.74, its highest level since April 22. Its move upside came as a part of a broader rebound that started April 30, gaining 37.5% in just three days of trading. As visible in the chart above, a large portion of the ALGO's upside move took cues from FIFA's announcement. Late on May 2, the official football governing body revealed that it had teamed up with Algorand to develop its …

Blockchain network Algorand has partnered with FIFA inking a sponsorship and technical partner deal as the network becomes the soccer association’s first official blockchain platform. The deal announced on Monday will also see Algorand become a regional supporter in North America and Europe for the 2022 FIFA World Cup to be held in Qatar in November and December. BREAKING: @FIFAcom has announced #Algorand will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more https://t.co/LTTUqGNLNA @FIFAWorldCup #FIFAWorldCup pic.twitter.com/LuEFTY3WK6 — Algorand (@Algorand) May 2, 2022 Algorand will also be an official sponsor of the …

After suffering significant losses due to issues stemming from the COVID-19 pandemic, the sports industry has turned to crypto to recoup its losses and help fans stay connected with clubs in today’s socially-distanced world. Over the past 18 months, countless deals and sponsorships have been reported between Web3 projects and sports teams, and if things go as planned, this might be just the tip of the iceberg for these two industries. With the prices of Bitcoin and memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) exploding, projects are starting to realize the importance of a loyal community and are making …

Following an unsuccessful venture in purchasing English football team Bradford City F.C in December 2021, WAGMI United — an innovative Web3 brand utilizing blockchain mechanics and the global sporting culture — has announced the acquisition of English fourth-division team Crawley Town Football Club. Founded in 1896, the West Sussex club known as the Red Devils have endured a turbulent existence both on and off the pitch. Triumphs including two league-winning promotions, four standard promotions and seven cup trophies — four being the Sussex Senior Challenge Cup — provide the fans with positive memories, but incidences like the 2006 administration following …

FIFA, an international governing body for many major soccer tournaments, has announced that cryptocurrency exchange Crypto.com will be an official sponsor of its next World Cup in Qatar. In a Wednesday announcement, the association said Crypto.com’s branding will appear both inside and outside of stadiums for the FIFA World Cup Qatar 2022 scheduled to begin in November. The crypto exchange will provide opportunities for its users to attend matches and win official merchandise as part of the sponsorship. According to FIFA chief commercial officer Kay Madati, the deal will help grow the games “on a global scale,” citing Crypto.com’s partnerships …

The Crypto.com exchange announced the airdrop of its "The Moment of Truth" nonfungible token (NFT) collection featuring Los Angeles Lakers forward LeBron James to 5,550 randomly selected viewers of its Super Bowl commercial. Those who found and scanned a hidden QR code that appeared 10 seconds into a conversation between present-day James and his apprehensive teenage self could enter to win a limited edition NFT. The collection consists of instant snapshots of behind-the-scenes moments from the making of the Big Game spot. Introducing “The Moment of Truth” NFT Collection featuring @KingJames Airdropping to a random selection of sleuths who found …

Leading English football club Manchester City have announced an inaugural cryptocurrency exchange partnership with OKX across both its men’s and women’s teams, as well as the clubs emerging e-sports ventures. According to the club’s press release, the collaboration will focus on “exclusive experiences for OKX’s global customer base, in addition to an in-stadium presence across the Etihad Stadium and Academy Stadium.” Rebranded from OKEx in mid-January this year, OKX — a Seychelles-based corporation with reportedly over 20 million customers — is the second largest spot exchange in the industry, facilitating over $4.3 billion in normalized trading volume over the past …

Nonfungible tokens (NFTs) continue to see increased utilization as the possible applications of the technology have begun to be recognized in sectors ranging from sports entertainment to real estate. One subsector of this market that has seen a spike in momentum on Feb. 28 are fan token projects, protocols that allow their holders to participate in the governance of their favorite sports brands and receive specialized NFTs and other unique redeemables. Data from Cointelegraph Markets Pro and TradingView shows that the three biggest gainers over the past 24-hours were FC Barcelona Fan Token (BAR), AS Roma Fan Token (ASR) and …

The world’s most popular sport suffered an own goal as European clubs canceled their partnerships with Bitci, a Turkish crypto exchange. However, plenty of substitute crypto companies are on the bench, ready to bring crypto to the mainstream through soccer. Growing yet unclear cryptocurrency regulations in Turkey have reportedly hampered the company’s ability to make payments, leading to a lack of confidence among major soccer clubs. Portugal’s Sporting CP, the green-and-white-striped footballers famed for being the club where Cristiano Ronaldo cut his teeth, whereas Italian club Spezia, play in Italy’s Serie A, have also canceled their partnership with Bitci. The …

Super Bowl commercials have always been an intrinsic part of the annual National Football League (NFL) championship and for business, a fair sign of making it in the real world. This year, however, marked a new milestone for the crypto community as FTX, eToro, Crypto.com and Coinbase debuted crypto ads in Super Bowl 2022. With rising demand in crypto — recently fueled by nonfungible tokens (NFT), meme tokens and the Metaverse — Super Bowl crypto ads stole the limelight from traditional businesses on social media platforms like Twitter. Let’s gauge into the advertisements and echo the feelings expressed by the …

Drake spends his time betting more than a million in Bitcoin (BTC) on Super Bowl matches when he's not running through the six with his woes. The award-winning rapper recently shared that he placed BTC bets worth a total of $1.26 million on the upcoming Superbowl match between the Cincinnati Bengals and the Los Angeles Rams. Through the crypto sports betting platform Stake, the rapper bet over $471,000 for the Rams to be the winner, including overtime. Drake also expressed his confidence in the Rams' wide receiver Odell Beckham Jr. The musician placed around $392,000 on Beckham having more than …

From NFL players accepting their salaries in cryptocurrency and Tom Brady founding his own NFT marketplace to the NFL providing Super Bowl attendees with customized NFTs, the National Football League and the blockchain community seem to have embraced each other. As Super Bowl LVI approaches this Sunday, there is one thing fans can be sure to expect: crypto ads. One marketing campaign led by Binance, the largest global exchange by trading volume, warns fans about taking these anticipated crypto commercials to heart, and uses celebrities to make its point. Last week, Binance released its first video featuring Miami Heat Forward …