Golden Goals launches NFTs on Tezos, triggering new XTZ bull run
- Golden Goals, a blockchain esports firm, has launched a Football-focused NFT platform on Tezos in partnership with FC Nantes.
- Tezos rallied 85% in August through positive sentiment from its latest network upgrade and non-fungible token launches on its blockchain.
- Tezos currently runs on the Proof-of-stake consensus mechanism that Ethereum plans to migrate to, following the merge.
Non-fungible tokens are driving Ethereum’s rival Tezos to new highs. The smart contract platform’s native asset XTZ has gained 35% since the launch of a football-focused NFT product.
Digital football collections on Golden Goals are driving XTZ price higher
Golden Goals is an NFT merchandiser platform that has partnered with FC Nantes, a French professional football club.
Football fans can buy collectibles and interact with their favorite football teams through Golden Goals. FC Nantes’ supporters can now match certified NFTs to real-world objects like autographed jerseys on the platform.
In order to buy collectibles on the non-fungible token platform, users have to create and use an XTZ wallet, and the merchandiser claims to have picked Tezos since it is an
environmentally-friendly blockchain.
In the first week of August, Tezos upgraded its platform, cutting block times to 50%. This development massively reduced the gas fees consumed by smart contracts on the network.
Tezos 7th Upgrade 'Granada' Is Now Live!
— Tezos (@tezos) August 6, 2021
Emmy* consensus, cutting block times by 50%
Gas improvements, massively reducing gas consumption in smart contracts
✅Liquidity baking, leveraging governance mechanism and incentives to provide for public goods#Tezos #Granada pic.twitter.com/IL4zJBe9oU
Since the upgrade, Tezos has become relevant in the crypto community as a competitor to Ethereum 2.0. The smart-contract platform currently runs on the Proof-of-stake consensus mechanism, which Ethereum aims to migrate to, eventually, following the merge.
Tezos’ co-founder Kathleen Breitman recently stated in an interview:
If it turns out that a lot of people who are attracted to NFTs and the arts in general, care a lot about the environment and Ethereum is not, maybe they will say, hey, why wouldn't we just do something that doesn't have bad environmental impacts? I think there's gonna be more of that as the space grows more pervasive.
Breitman’s remarks highlight how XTZ has positioned itself against competitors that are labeled as “Ethereum-killers” for their market share or dominance rather than technological expertise or focus on the environment.
As the wider cryptocurrency market (Bitcoin, Ethereum and top 10 altcoins) takes a breather, Tezos is rallying. Supporting the Golden Goals NFT platform on its network has increased the transaction activity and demand for XTZ, fueling a bullish narrative for the altcoin.
Pseudonymous cryptocurrency trader and analyst behind the Twitter handle @rektcapital has predicted that XTZ uptrend is likely to continue past its recent 60% gains.
$XTZ / #BTC - #xtz #Tezos
— Rekt Capital (@rektcapital) August 29, 2021
XTZ continues its phenomenal uptrend, soon to reach the blue resistance
Now up +60% since breaking out from the Falling Wedge first covered in last week's Rekt Capital Altcoin Watchlist
Sign up for only $10 a month:https://t.co/6D0cB8N56X#Crypto https://t.co/oELKvu6fgC pic.twitter.com/mdD8CeeDXc
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
