How far can ALGO grow after the FIFA partnership toward a new NFT platform?

Algorand (ALGO/USD) is a decentralized blockchain-based network that supports numerous applications. 

Systems built on top of it are secure, scalable as well as efficient, and all of this is powered by a permissionless Pure Proof-of-Stake (PPoS) blockchain protocol.

ALGO is the native cryptocurrency of the blockchain and can be staked by users as a means of allowing them to earn rewards within the ecosystem. 

Furthermore, all of the payments within the Algorand community are also made with the ALGO coin.

The launch of a FIFA NFT platform on top of Algorand as a catalyst for growth

The world’s soccer governing body, FIFA, has announced the launch of an NFT platform that is aimed at showcasing soccer-related collectibles.

Specifically, FIFA+ Collect will launch by the end of September, and the non-fungible tokens (NFTs) that are included will be highlights of important soccer moments, imagery, as well as art.

They are also aiming to make them affordable, accessible, and inclusive.

Memorable moments from the World Cup will also be showcased as digital collectibles.

FIFA+ Collect is built on top of the Algorand (ALGO) blockchain, and this could lead to an increase in the coin’s value as well as utility. 

Should you buy Algorand (ALGO)?

On September 5, 2022, Algorand (ALGO) had a value of $0.3021.

To see what this value point represents for the ALGO cryptocurrency, we will be taking a look at its all-time high as well as its performance throughout the previous month. 

When we look at its all-time high,  Algorand (ALGO) reached a value of $3.56 on June 20, 2019.

Looking at how the Algorand (ALGO) coin performed throughout the previous month, we can see that the highest point of value for ALGO was on August 14, at $0.3811. Its lowest point was on August 27 at $0.2815. Here we can see a decrease of $0.0996 or 26%.

However, from August 27 to September 5, we can see that ALGO increased in value by $0.0206 or by 7%, which means that investors might want to buy ALGO as it can climb up to $0.5 by the end of September 2022.

The post How far can ALGO grow after the FIFA partnership toward a new NFT platform? appeared first on Invezz.

from Cryptocurrency – Invezz