Algorand was represented by the International Football Federation (FIFA) as a regional sponsor of the World Cup in Qatar. The protocol has become the official blockchain platform of the competition.
BREAKING: @FIFAcom has announced #Algorand will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more 👉 https://t.co/LTTUqGNLNA @FIFAWorldCup #FIFAWorldCup pic.twitter.com/LuEFTY3WK6
— Algorand (@Algorand) May 2, 2022
Algorand Foundation Ltd will partner with FIFA in developing an NFT-focused digital asset strategy and provide a wallet solution for the tournament.
In addition, Algorand will be the official sponsor of the 2023 FIFA Women’s World Cup in Australia and New Zealand.
According to the president of the sports organization, Gianni Infantino, the partnership with Algorand confirms FIFA’s commitment to the constant search for “innovative channels for sustainable revenue growth.”
After this news, the value of the Algorand asset rose by 20% in the last 24 hours, according to CoinGecko. The asset is in 31st place among cryptocurrencies by capitalization.
Formerly Crypto.com became official sponsor of the championship.