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.

XCN, Chain’s native governance and utility asset, jumped from trading around $0.067 before the announcement to around $0.075 afterward, a nearly 12% increase. The 37th-ranked crypto asset by market cap is trading at $0.0778 at time of writing and is up over 4% in the past 24 hours and more than 25% from its weekly low of $0.619.

We are extremely excited to work with @Chain , our official Web3 and blockchain partner! https://t.co/VH6nNkwXpZ
— New England Patriots (@Patriots) September 22, 2022

Says Murray Kohl, vice president of sales for Kraft Sports + Entertainment,
“Together with Chain, we’ll look to innovate that same way with their cutting-edge blockchain technology. Our fans will be able to connect with the Patriots and Revolution in ways never before possible.”
Chain offers cloud, ledger and non-fungible token (NFT) services. The company also recently partnered with Coinbase for the exchange’s launch of a “learn-to-earn” program that offers XCN rewards for crypto beginners who complete a series of quizzes and learning modules.
Despite the price increase this week, XCN remains more than 57% down from its all-time high of more than $0.18, which it hit in late May.
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Featured Image: Shutterstock/Alexander56891/INelson
The post Web3 Altcoin Inks Deal With New England Patriots and Jumps by 25% This Week, Thwarting Crypto Market Woes appeared first on The Daily Hodl .