FIFA, the governing body of the world football, recently revealed its collaboration with Algorand, the creator of the innovator Algorand. Algorand will presently become the official blockchain platform of FIFA and offer blockchain wallet solutions. The Algorand token price rose sharply immediately after the announcement.
FIFA x Algorand
Algorad has been involved with different international football clubs and events. A few months ago, they signed a technical collaboration with NJ / NY Gotham Football Club. For this reason, we now see their brand running across the league. The collaboration contains blockchain payments and NFT combination in-stadium and in the community.
Since the FIFA agreement, they are currently the regional sponsor for the 2022 Qatar World Cup. They are the official sponsor for the 2023 FIFA Women’s World Cup in Australia and New Zealand as well. Moreover, this presence in FIFA is not just a regular sponsorship deal.
The blockchain company will help FIFA in upcoming developing its digital assets’s strategy. Besides, FIFA will offer sponsorship support like advertising, media exposure and promotional opportunities.
The FIFA president explains that this is a clear sign of FIFA’s commitment. Their concentrate constantly is to look for creative channels for long-term income growth. As they formally step into the blockchain world, new opportunities will open up. For example, this can involve blockchain payments, NFTs, virtual land and other digital assets.
Algorand advances Web3 digital power as a way to accelerate growth, comprehensiveness, transparency and creation. In addition, they have a constant concentrate on the environmental impact of the blockchain. The company is working on new collaborations with different industries. Silvio Micali and his team have an immense experience in finance, gaming, music, art and sports. This should provide a smooth transition for the football organization progressing.