Will Big Eyes Coin, Algorand And Chiliz Rise In Value As The FIFA World Cup Kicks Off?

Updated on: 24 November 2022 10:47 am

Big Eyes Coin

After four long years, the 22nd FIFA World Cup has finally begun. This year’s edition of the World Cup is by far different from any other. The tournament is occurring after a global pandemic, it is hosted by Qatar, the first Arab and Middle Eastern country to host the event. One of the most surprising aspects is that cryptocurrencies have now been heavily integrated into the World Cup, which could help push digital currencies more into the mainstream.

In May 2022, blockchain network Alogrand (ALGO) announced their collaboration with FIFA to agree on a sponsorship and technical deal. Ironically, Chiliz (CHZ), a crypto project known for being based on sports and entertainment, plummeted in price when the World Cup kicked off. Meanwhile, Big Eyes Coin (BIG), a forthcoming meme coin, has been making waves online because of its well-thought-out branding and creative mascot. https://bigeyes.space/

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The Algorand And FIFA Collaboration

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FIFA announced its involvement with the blockchain network on 1 May 2022, committing to a sponsorship and technical partnership agreement. Algorand (ALGO) is becoming FIFA's official blockchain platform and will provide the official blockchain-supported wallet solution, following the conditions of the deal. According to the sponsorship deal, Algorand will also be a FIFA World Cup Qatar 2022 Regional Supporter in North America.

The cooperation with FIFA, according to Algorand founder Silvio Micali, will demonstrate the Algorand blockchain's potential to change the way we all encounter the world's games, as FIFA is the most generally recognised and prestigious sports institution.

Algorand is a permissionless distributed ledger that aims to address technological restrictions in the blockchain. Algorand implements a pure proof-of-stake (PoS) algorithm based on a Byzantine agreement to resolve the blockchain trilemma. Algorand was developed in reaction to the slow transaction speeds of Bitcoin and other blockchains. Algorand is said to offer lower transaction fees and no mining (unlike Bitcoin, which requires a lot of energy to mine).

Can Chiliz Score In Value After This Week’s Defeat?

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As of this writing, Chiliz (CHZ) has plummeted significantly in value. According to CoinGecko and CoinMarketCap, CHZ has dropped another 9% since yesterday. While CHZ is predicted to climb, the token's value has fallen from its peak on 19 November 2022. It was the day before the World Cup started. Nonetheless, CHZ may be more resilient than market participants expect. Chiliz (CHZ), developed by the eponymous Malta-based FinTech firm, is the leading digital currency for sports and entertainment.

It operates the blockchain-based sports entertainment network Socios, which allows users to influence the administration of their favourite sports organisations. The numerous fan tokens on Socios.com are one example of this. Fan tokens allow sports teams and institutions to engage with their fans even while offering new revenue streams. Chiliz provides blockchain-based technology to sports and entertainment organisations to enable them to communicate with and monetize their fans. Despite the value of Chiliz declining since the World Cup began, do not be surprised if it rapidly rises as the tournament continues.

Big Eyes Coin Continues Its Successful Marketing Campaign

Big Eyes Coin (BIG) has had quite an impact on not only the meme coin sector but on the cryptocurrency market as a whole. The upcoming meme coin garnered significant online attention due to its adorable mascot, a cute cat with large pupils fashioned in a manga/anime style. Its unique aesthetic combined with its aspirations to divert wealth into the decentralised finance ecosystem is what drew the likes of crypto influencers such as Ieda Wobeto, StormzETH, Rafa and Gino Assereto to advocate for BIG on Twitter.

https://bigeyes.space/

These endorsements also contributed to Big Eyes Coin’s Twitter presence growing to an exponential rate, as it currently has over 40,000 followers on the social media platform. Big Eyes Coin took its marketing campaign to the next level when it appeared on a 3D billboard in Time Square, a commercial junction in Manhattan, the richest borough in New York City, on November 14, 2022, pushing the blockchain network to a global level. BIG has managed to raise $10.26 million within a space of less than a year and has proven itself as one of the best emerging crypto coins in the market.

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