Partnerships from all across the globe have been pouring in with the rising popularity of the cryptocurrency community. While the market has witnessed several crossovers throughout its existence, a recent collaboration has been making headlines. Prominent cryptocurrency network Cardano (ADA) has reportedly partnered up with FC Barcelona. Amidst this, the price of ADA, which had been on the down low, was seen recovering.
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Diving Into Cardano’s Latest Collaboration
The latest alliance seeks to transform fan interaction and provide global opportunities. Barcelona will use the partnership to empower its supporters through a variety of activities. This includes creating job opportunities for young supporters, leveraging blockchain tech to educate fans, and distributing rewards to community members through NFTs and ADA tokens.
It should be noted that this deal was initially revealed on LinkedIn last year. But it did not seem to make headlines back then. Frederik Gregaard highlighted the latest partnership in an X post.
In his tweet, Gregaard said that Barcelona is a community-owned club with over 150,000 members (Socis) and more than 1,200 fan clubs (Penyes). Like Barcelona, the Cardano ecosystem is fuelled by its community members.
The partnership’s principal emphasis is Barça Vision. This is a platform that combines Web3 and artificial intelligence to improve the fan experience. Following this, the construction of BarçaVerse, a platform that connects Barcelona fans throughout the world and aligns with Cardano’s key ideals, is set to take place.
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Price Analysis
The entire cryptocurrency market was slowly recovery. But a few assets were performing better than the rest. Cardano’s ADA was one among them. The altcoin recorded a major drop over the past week. Despite this, ADA has continued to maintain itself in the top ten as the ninth-largest cryptocurrency. At press time, the asset was trading at $0.9639, with a 5.45% increase in price over the past 24 hours.
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