Algorand has been named FIFA’s official blockchain technology partner
FIFA has announced a cooperation with Algorand, a climate-conscious blockchain pioneer, which is arguably the most widely recognized and acclaimed sports organization in the world. Algorand will become FIFA’s official blockchain platform and give the footballing organization a blockchain-supported wallet solution as a result of the cooperation.
The cooperation agreement stipulates that Algorand would support FIFA in building its digital asset strategy and sponsor upcoming FIFA events as part of the partnership agreement’s terms. The FIFA World Cup Qatar 2022 and the FIFA Women’s World Cup Australia and New Zealand 2023 are examples of events in which it will function as a ‘Regional Supporter in North America and Europe,’ as well as an official sponsor.
“We are happy to establish this relationship with Algorand,” said FIFA President Gianni Infantino in a statement last week. The partnership shows FIFA’s commitment to finding new and innovative ways to increase revenue so that more of it can be reinvested in football. This is an important part of FIFA’s vision to make football truly global, and it shows our stakeholders and football fans around the world that we are serious about this. The cooperation with Algorand has the potential to be lengthy and rewarding.
To date, Algorand has been selected as the blockchain solution by more than 2,000 global organizations, governments, and digital native Defi applications. In addition to the requirements of the cooperation, the organization will join the mission of blockchain to speed up growth in the ever-emerging Web3 domain while also being ecologically friendly, inclusive, transparent, and innovative.