ALGO on the move with launch of FIFA NFT marketplace, new CMO hire
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The price of Algorand blockchain’s original cryptocurrency ALGO has witnessed an increase in what is believed to be the result of a recent partnership with FIFA and a new chief marketing officer (CMO).
Algorand is a proof-of-stake (PoS) Layer 1 blockchain and has seen a price spike in the past week. As of September 26, 2022, ALGO traded at around $0.36, before breaking its long-term resistance price and rising more than 30% in the past seven days.
However, earlier today the price of ALGO traded around 7% over the last 24 hours.
ALGO to USD
Cooperation with Fifa ahead of the Qatar World Cup
ALGO’s price increase may be linked to the blockchain’s recent confirmation of its official partnership with FIFA to launch World Cup non-fungible tokens (NFTs) ahead of the upcoming Qatar World Cup later this year.
Algorand confirmed the partnership via Twitterwhich says fans around the world “will now have the opportunity to own the greatest moments in football at an affordable price.”
FIFA also confirmed the partnership earlier this month alongside the launch of FIFA+ Collect, which will see the firm release a series of limited-edition digital collectibles for fans around the world ahead of the FIFA World Cup.
W. Sean Ford, interim CEO of Algorand, said: “FIFA’s platform – via a truly decentralized and scalable public blockchain – is the first tangible representation of the technical partnership recently announced between FIFA and Algorand.
“The commitment FIFA has made to bridge Web3 enabled by Algorand is a testament to its innovative spirit and desire to directly and seamlessly engage with football fans around the world.”
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New CMO joins the Algorand team
Adding to the hype surrounding FIFA’s partnership to launch exclusive NFTs for fans, Algorand also confirmed the appointment of ex-Visa and Fidelty CEO Michele Quintaglie as Head of Marketing effective September 19.
Quintaglie has experience from a number of top firms and her role at Algorand is set to help the company attract key partnerships and sponsorships. Quintaglie said:
“I’ve had a passion for blockchain and Web3 for some time now, which is why I couldn’t be more excited to join the Algorand team. Algorand represents the key values I look for in any great brand – amazing technology, global reach, proven leadership, and most importantly, a purpose-driven ethos to create technologies that deliver meaningful societal and environmental impact.”
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