Polkadot To Sponsor Messi’s Inter Miami: DOT To The Moon? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	15,882,230,171	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0049	-1.07%	0.4522	0.4521	0.4522

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.4638	0.4517	0.4573	0.4571	0.216009 - 0.810200

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	17:16:14	70.63	0.4522	USD

Price x Volume	Volume	Base Symbol	Related Pairs
4,183,482.91	9,118,142.63	ADA	ADAEUR	ADAGBP	ADABTC

Polkadot To Sponsor Messi’s Inter Miami: DOT To The Moon?

07/05/2024 9:00pm

NEWSBTC

The Polkadot community has approved a proposal to sponsor Inter Miami, the football club co-owned by David Beckham and featuring superstar Lionel Messi. The move could be a strategic decision to propel Polkadot, a smart contracts platform similar to Ethereum, into the global spotlight. Polkadot To Sponsor Inter Miami The proposal, approved by Polkadot’s Open Gov community, sought 968,000 DOT (roughly $6.5 million) to secure the sponsorship. Under the “sports sponsorship fund,” the goal was to partner with Inter Miami, a team described as one of the “world’s most engaging and followed sports teams.” Related Reading: Cardano (ADA) Trading Activity Goes Quiet: Will This Drag Down The Price? While the goal is to “elevate” Polkadot’s global brand visibility, the plan is to develop other deeper integration, leveraging Inter Miami’s global fanbase. For instance, the team plans to enhance user experience through engaging non-fungible tokens (NFTs) and other gamified experiences deployed on Polkadot’s parachains. Additionally, the team plans to explore how Polkadot-based solutions can be implemented at Inter Miami, resulting in greater efficiency and improved fan engagement initiatives. While the potential deal’s specifics are confidential, the proposal emphasizes transparency. Accordingly, funds will be held in a multi-signature wallet, accessible only with community approval. Moreover, ORSEN SA, a Swiss sports marketing agency, will manage the partnership rights. Polkadot’s Plans to Scale As Polkadot enhances its global visibility, developers are also working on activating a key update: “Asynchronous Backing.” Last year, Sophia Gold, the Engineering Lead at Parity Technologies, said the technology would be a game changer. Asynchronous Backing will allow Polkadot to scale the number of Parachains from 100 to 1,000 by the end of the year. The network will boost its transaction processing capacity, with Polkadot supporting more “independent blockchains” via Parachains. Related Reading: Here’s How This Ethereum Whale Made $16 Million From A Single Trade Furthermore, improvements via techniques like “pipelining” will permit multiple parachains to process data simultaneously, halving transaction confirmation times. Though Polkadot continues to enhance its network and strike more deals, DOT prices remain under pressure. At spot rates, DOT is down 40% from 2024 highs. While CoinMarketCap data shows that the coin has risen 14% in the last week, the failure of bulls to break above $7.5 is a concern. Technically, a high volume lifting the coin above this local liquidation level would pave the road for an expansion toward $9 and March 2024 high in the coming sessions. Feature image from Unsplash, chart from TradingView

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