FIFA Selects Algorand As Official Blockchain Platform For World Cup
Football organization FIFA has teamed up with green blockchain company Algorand in a sponsorship and technical partnership deal. The deal will see Algorand become the official blockchain platform of FIFA and provide the official blockchain-supported wallet solution. It may also assist FIFA in developing its own nonfungible token (NFT) collection to put up for auction.
“The collaboration is a clear indication of FIFA’s commitment to continually seeking innovative channels for sustainable revenue growth for further reinvestment back into football ensuring transparency to our stakeholders and world-wide football fans,” said FIFA President Gianni Infantino.
According to the sponsorship deal, Algorand will be a FIFA World Cup Qatar 2022 Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023 Official Sponsor.
Algorand will also assist FIFA in further developing its digital assets strategy, while FIFA will provide sponsorship assets including advertising, media exposure and promotional opportunities.
With this deal, FIFA is officially entering the world of blockchain and the opportunities this presents across various applications. FIFA said it will constantly strive to identify and explore the most cutting-edge, sustainable and transparent means of increasing revenues to continue to support global football development.
Algorand founder Silvio Micali said, “This partnership with FIFA, the most globally recognised and distinguished organisation in sports, will showcase the potential that the Algorand blockchain has to transform the way we all experience the world’s game.”
In March, FIFA had also announced cryptocurrency exchange Crypto.com as an Official Sponsor of the FIFA World Cup Qatar 2022 to be held in November and December 2022. It became the exclusive cryptocurrency trading platform sponsor of Qatar 2022 and will benefit from significant branding exposure both within and outside the tournament’s stadiums.
The Crypto.com sponsorship is expected to drive significant awareness around the cryptocurrency trading platform through brand exposure at the world’s most popular sporting event.
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