FIFA has selected Algorand as its official Blockchain partner

FIFA, the governing body of the football world, recently announced a partnership with blockchain innovator Algorand. Algorand will now be FIFA’s official blockchain platform and will provide blockchain wallet solutions. Following the announcement, the price of the Algorand token immediately rose sharply.

FIFA x Algorand

Algorand is involved in various international football clubs and events. A few months ago, they signed a technical partnership with the NJ / NY Gotham football club. That is why today we see their brand circulating in the league. This partnership includes blockchain payments and NFT integration in the stadium and community.

Since the FIFA agreement, they are now the regional sponsor of the 2022 FIFA World Cup in Qatar. They are also the official sponsors of the 2023 Women’s World Cup in Australia and New Zealand. However, this stint at FIFA is not just an ordinary sponsorship agreement.

The blockchain company will help FIFA further develop its digital asset strategy. In addition, FIFA will provide sponsorship assets, including advertising, media exposure and promotional opportunities. It seems like a win-win to me.

The FIFA President says this is a clear sign of FIFA’s commitment. Their goal is to constantly find new channels for long-term revenue growth. When they officially enter the blockchain space, a number of new opportunities open up for them. This could include, for example, blockchain payments, NFTs, virtual land and other digital assets.

Algorand supports Web3’s digital capabilities as a way to accelerate growth, inclusiveness, transparency and innovation. In addition, they are constantly focusing on the impact of blockchain on the environment. The company is working on new partnerships in various industries.

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Silvio Micali and his team have extensive experience in finance, games, music, art and sports. With that, the football organization must continue to make a smooth transition.

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