Algorand, an eco-friendly proof-of-stake blockchain has been announced as the official blockchain platform of FIFA.
- The deal between FIFA and Algorand was announced on Monday. The deal sees Algorand being the Qatar 2022 FIFA World Cup reigonal supporter for North America and Europe and the official sponsor of the FIFA Womens World Cup in 2023.
- As apart of the deal, Algorand will assist FIFA in developing its ‘digital assets strategy’. This could hint at FIFA releasing NFTs, as the technology was described in the announcement.
- FIFA president, Gianni Infantino is looking foward to “a long and fruitful partnership with Algorand,” as “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.”
- Algorand is another cryptocurrency company to join the long list of sponsors to the World Cup. Recently, Crypto.com was announced as the official trading platform for the sporting event.
- Although crypotcurrency is banned in Qatar, the event garners huge coverage every 4 years. Last World Cup was viewed by over 3.2 billion people, so the tradeoff seems like a good deal for the sponsors.
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