The World Cup is one of the biggest sporting events across the globe. In the last World Cup final between France and Croatia, this attracted a total audience of 1.12 billion, whilst each game had on average 191 million viewers. This year potentially could top that, and two massive players in the crypto space are official sponsors of the event! I will be looking at Algorand (ALGO), Crypto.com’s Cronos (CRO) and what this could mean for promising new coins like Rocketize (JATO).
FIFA Advances with Algorand
Algorand (ALGO) is officially partnered with FIFA and is a regional supporter in North America and Europe for the World Cup. The carbon-negative and low-cost Ethereum rival is also the official blockchain platform for FIFA’s NFT collection: FIFA+ Collect. This is a collection of the most iconic sporting moments in Football released as NFTs. Algorand is likely to see a spike in price as more people get exposed to cryptocurrency through its affiliations with the World Cup.
Crypto Going as the CRO Flies to the Top!
Cronos (CRO) is the native token of Crypto.com – the official sponsor of the World Cup! It cannot be stated enough how big this is for the crypto space. For the 2018 World Cup in Russia, there was a combined viewer count of 3.572 billion people. That is more than half of the global population aged four and above watching the matches. This will an immense level of exposure to many people who may not have heard of cryptocurrency before, or those who may be interested but just need a final little tap on the shoulder to rekindle their interest. Crypto.com’s sponsorship is likely to lead to a boom in the market, something desperately needed after the recent crash, and the ongoing bear market.
However, in light of FTX’s collapse, there have been some serious concerns with other centralised crypto exchanges. Crypto.com’s financial situation has come under scrutiny, as it has laid off over 2000 employees between June 2021-2022. There has also been suspicious activity, Crypto.com recently moved $400 million worth of Ethereum (ETH) to the ‘wrong address’. Binance CEO Changpeng “CZ” Zhao said this is a “clear sign of problems”, and to “stay away”.
Although this may be slightly troubling, Crypto.com’s sponsorship of the World Cup is good news for the whole crypto space as it will expose a lot more people in the world to cryptocurrency, and its ideals. Provided there is no collapse, it will lead to long-term growth in the space. If you are feeling wary, perhaps using another exchange like Binance or Coinbase may be a better option for you.
A Big Bang For Your Buck: Rocketize
What does all this mean for newer coins? Right now Bitcoin (BTC) has dipped, making it a great chance to pick up more before it shoots back up again. However, if you were to invest in pre-sale coins, the opportunities for gains are even larger. By buying Ethereum (ETH), or BNB (BNB) whilst the prices are low, you would be able to load up on a lot more DeFi coins that have the potential for life-changing gains. Rocketize (JATO) is one of the newest cryptocurrencies landing on the blockchain, and with deflationary tokenomics, like Bitcoin, the value of the tokens will only go up over time. There is an opportunity to clinch astronomical gains, and speculative investment in Rocketize could boost you to the moon, as the rest of the cryptocurrency market rises from the exposure in the World Cup.
Crypto.com and Algorand’s (ALGO) sponsorship of the World Cup is wonderful for the crypto space. The mass exposure that this will give to the cryptocurrency market will be immensely powerful in increasing interest and thus driving up prices. Make sure to scoop up some crypto before kick-off!
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.