Tezos (XTZ +1.84%) is the vision of a husband-and-wife team who wanted to build a self-amending blockchain. It's governed by holders of its native cryptocurrency, the XTZ token. Since it's capable of running smart contracts, Tezos is a versatile platform that can be used for many purposes, including developing decentralized apps (dApps) and minting non-fungible tokens (NFTs).
The project quickly gained support and raised hundreds of millions in funding. However, Tezos has also had some bumps in the road, including legal issues and infighting between the creators and the Tezos Foundation. Keep reading for the full story on this blockchain protocol.
Tezos’ partnerships
Tezos has had success in finding notable partnership agreements. Here are a few highlights from 2021 and 2022:
- Three Swiss financial firms (Crypto Finance, InCore Bank, and Inacta) are working with Tezos to build tokenized assets, a highly-regulated financial product.
- Manchester United signed a multi-year sponsorship agreement with Tezos for more than 20 million pounds. As part of the agreement, Tezos will be featured on the club's training kits.
- Red Bull Racing Honda signed a multi-year partnership for Tezos to build its first NFT fan experience.
- Ubisoft (UBSFF +0.18%) has partnered with Tezos to add NFT items to its games.
- Misfits Gaming Group announced a partnership with Tezos, which will be the company's official blockchain.
Can I make passive income with Tezos?
You can make passive income by staking Tezos. When you stake cryptocurrency, you earn a percentage of those staked assets for your role in helping the blockchain. Your XTZ tokens are safe while you do this, and you can unstake them at any time.
There are a few ways to stake Tezos. You can do it yourself and become either a baker or a delegate. Becoming a baker requires more technical knowledge and requires at least 8,000 XTZ, so becoming a delegate is the easier option.
A simpler option is to stake Tezos through a crypto exchange. Here are a few of the best crypto exchanges that support Tezos staking:
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