Ethereum Challenger Defies Crypto Markets and Surges 38% This Week As FIFA Partnership Drives New User Growth

Price of 1 Ethereum (ethereum) Competitors are proliferating as global football organization FIFA launches digital art on the blockchain.

According to the crypto analysis firm into the blocknew users are flocking to smart contract platform Algorand (Argo) with the launch of the Official Non-Fungible Token (NFT) of the FIFA World Cup, used by thousands every day.

“Within three months, new addresses making their first ALGO transactions increased from 5,000 to 20,000 per day.”

sauce: IntoTheBlock/Twitter

May, FIFA with ink Sponsorship deal with Algorand to make Ethereum the official blockchain platform of FIFA.Global Soccer Group this month launch FIFA+ Collect is a platform designed to give fans around the world the opportunity to own the FIFA Digital Collection in the form of NFTs.

ALGO’s price bucked the price trend of other cryptocurrencies over the past week. Smart contract protocols jumped from a seven-day low of $0.293 to a high of $0.407, a near 40% increase in just one week.

ALGO has since rebounded slightly, trading at $0.388 at the time of writing.

Earlier this month, Algorand announced that the company appoint New Chief Marketing Officer. Michele Quintaglie joined Algorand’s leadership team on September 19 to spearhead his global marketing and communications efforts for the company, building brand awareness and reach for the company.

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Featured Image: Shutterstock/Pattern Trends/Andy Chipus

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