Home Markets Web3 Altcoin Inks trade with New England Patriots, jump 25% this week, thwarting crypto market woes

Web3 Altcoin Inks trade with New England Patriots, jump 25% this week, thwarting crypto market woes

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Web3 Altcoin Inks trade with New England Patriots, jump 25% this week, thwarting crypto market woes

A Web3 altcoin is skyrocketing this week amid news that it has signed a sponsorship deal with the New England Patriots football team.

Through a multi-year partnership with Kraft Sports + Entertainment, the blockchain infrastructure solutions company Chain (XCN) is now the “official blockchain and Web3 sponsor” of the Patriots, the New England Revolution football team, the Patriots home ground Gillette Stadium, and Patriot Place – an outdoor shopping mall built around the stadium.

XCN, Chain’s native governance and utilities asset, rose from around $0.067 before the announcement to around $0.075 after, an increase of almost 12%. The 37th largest crypto asset by market cap is trading at $0.0778 at the time of writing and is up over 4% in the past 24 hours and over 25% from its weekly low of 0.619 $.

According to Murray Kohl, vice president of sales for Kraft Sports + Entertainment,

“Together with Chain, we will seek to similarly innovate with their cutting-edge blockchain technology. Our fans will be able to connect with the Patriots and Revolution in a way never before possible.

Chain offers cloud, ledger and non-fungible token (NFT) services. The company also recently in partnership with Coinbase for the exchange’s launch of a “learn to earn” program that offers XCN rewards to crypto beginners who complete a series of quizzes and learning modules.

Despite the price increase this week, XCN remains over 57% below its all-time high of over $0.18, which it hit in late May.

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Featured Image: Shutterstock/Alexander56891/INelson

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