Over the last 12 years of its existence, the crypto industry has attracted a lot of other industries. However, the sports industry has been one of the first ones to accept it and start joining crypto projects. It started with sports stars supporting certain altcoins, to admitting that they are investors, and then it led to some of them launching their own crypto projects.
Eventually, the crypto industry started partnering up with various sports brands, and even entire clubs, launching NFTs and expanding this connection even more. This allowed the fans to connect to their favorite players, purchase their merchandise, and support them in various similar ways. In return, the players were able to cut out the middlemen, like stores and various agencies, and cut the cost of merchandise meant for their followers and supporters.
However there is an effort to take things even further, and connect the entire football community around the world, and grant its members with a dedicated social platform that would combine social media, sports, and blockchain technology. In doing so, the football community will be able to connect players, coaches, fans, brands, and others all at once, and further strengthen the ties that already bind them.
The last 30 days have been quite difficult for cryptocurrency prices, as a major bearish wave cut most of the coins’ prices in half. Even TheFutbolCoin (TFC) saw its value get reduced significantly, and just after it surged due to the announcement of the launch of the Worldwide Association.
How did TFC Perform?
As mentioned, around the time of the initial announcement, the TFC price went up from $0.469 to $0.626 in about two days. Unfortunately, that is when the crypto sector started seeing the first signs of the bear market that quickly followed afterward.
The token kept fighting against the bears, although the pressure was too strong, and its price kept heading down, slowly but surely. It was stopped by every major and minor support that the token had, including the ones at $0.6, $0.55, $0.5, and many other ones. However, even the major coins like Bitcoin kept losing value, and eventually, TFC hit bottom at $0.3. While it did briefly breach this support as well, sinking to $0.272 on May 19th, its price quickly recovered back to $0.3.
Further announcements and reminders of the TFA Worldwide Association’s launch re-awoke the community’s flame, however, and the token’s price rapidly skyrocketed from $0.331 on May 21st to $0.539 later on the same day.
The price has corrected since then, finding new support at around $0.45, which is where it sits at the time of writing. Right now, the price seems to be stable, although it could once again move sharply in any direction. Still, this should not be held against the token, given how volatile the crypto industry is right now, as well as how influential it can be, as it has proven many times that it is more than capable of forcing other coins to go up or down simply due to correlation with Bitcoin and other dominant cryptos.
But, despite the drop, it is encouraging to see that the coin managed to go against the bears after the announcement, which is clearly very impactful.
Despite the bear market, TFC continues significant progress. Livingston FC of the Scottish Premier League already announced that it will start accepting TFC, and TFA Worldwide Association will continue to seek new partnerships with other clubs and brands as well at the sports highest levels. Alexander College in Cyprus, in partnership with Canterbury Christ Church University also now accepts the coin for full payment for several online degrees. And TFC was used just this week to pay the transfer fee for a professional player, a world first for cryptocurrency led by the TFC ecosystem.
TFC is a native cryptocurrency of The Futbol App (TFA) — the first social network for football fans across the globe. TFA was created by pandaHAUS in order to provide a single platform for everyone — including coaches, players, fans, clubs, and others — to easily reach one another and engage in various digital activities surrounding football together. It is a simple but powerful way to further strengthen the extremely large and powerful football community.
The project also has its own meme token launched on BSC, called PANDA. PANDA is available on PancakeSwap where it can be bought and used for minting and buying/selling NFTs in the TFA app.
More than that, the coin recently attracted a lot of attention when Olympian Jan Hudec gave away 100 trillion PANDA tokens to TFA Worldwide Association. The amount represents roughly 12.8% of the token’s total supply, and it is a charitable gift to the project that will likely use the money to help charities and participants in the football community.
TFA Worldwide’s board member, Jerome Heelein, said that the gift is highly appreciated and that the project will make sure to put it to good use.
TFC, as mentioned, is the app’s native cryptocurrency which is expected to see a massive amount of use once TFA’s Worldwide Association goes big. The association is based in Zug, Switzerland, and according to a recent announcement, it will manage over half of the TFC supply for the benefit of the community.
The Association consists of several major names, including the Barclays Bank’s Market Development Director, Shareen Qureshi, as well as Stefan Lindemann, who worked as the CEO of LGT Fund Management over the last eight years.