FIFA, the world’s leading body for football, announces a partnership with blockchain technology green company Algorand cryptocurrency platform.
Algorand will be Blockchain Technology’s official cryptocurrency platform for FIFA
The partnership was announced by FIFA president Gianni Infantino as well as Algorand director Silvio Mcali, the founder of Algorand Los Angeles, USA
FIFA has joined forces with the blockchain technology firm Algorand cryptocurrency platform to conclude an official sponsorship and technical partnership agreement.
The agreement will mean that Algorand will be officially recognized as the blockchain-based platform for FIFA and provide the official blockchain-based wallet service for FIFA. According to the sponsorship agreement, the Algorand cryptocurrency platform will become an official FIFA World Cup 2022 Regional Supporter in North America and Europe, as well as an official sponsor of the FIFA Women’s World Cup Australia and New Zealand 2023 Official Sponsor.
Non-editable data can be stored and distributed across digital networks, as well as provide innovation and security by allowing transactions that are untampered and assets like NFTs, which are non-fungible tokens (NFTs), and blockchain-enabled wallets that store digital assets.
Algorand Cryptocurrency Platform
In the framework of the agreement, the Algorand cryptocurrency platform will also assist FIFA in developing its strategy for digital assets. In addition, FIFA will offer sponsorship assets that include advertising, media exposure, and promotion opportunities.
At the time of the announcement, FIFA President Gianni Infantino announced: “We are delighted to announce the partnership we have with Algorand.” This partnership is an obvious signal of FIFA’s determination to continuously seek new ways that will sustain revenue growth and future reinvestment in football while also providing transparency for our stakeholders as well as worldwide football fans—an essential element of our vision to create a truly global football. I am looking forward to a long-term and productive collaboration with the Algorand cryptocurrency platform. “
“This announcement is a thrilling moment for FIFA as it is finally entering the realm of blockchain technology and the potential it offers across a variety of applications.” At FIFA, we will continue to search for the most innovative, efficient, sustainable, and transparent methods of increasing revenue to continue to help develop football in the world. “Algorand cryptocurrency platform is definitely a forward-thinking and innovative partner who can assist us in achieving these goals.”
Turing Award-Winning Cryptographer
Created by Turing Award-winning cryptographer and Turing Award winner Silvio Micali, Algorand blockchain has become the preferred technology for more than 2000 global organizations, as well as governments and digital-native defi software. In particular, the Algorand cryptocurrency platform helps organizations in music, finance, gaming arts, and the sports industry to take advantage of Web3 digital capabilities to boost growth, inclusion as well as innovation, and transparency while being environmentally sustainable.
Since the beginning, Algorand has focused on developing technology that fosters inclusiveness as well as transparency and opportunity to all people,” said Silvio Micali the creator of the Algorand cryptocurrency platform. “This partnership with FIFA, the most globally recognized and distinguished organization in sports, will showcase the potential that the Algorand blockchain has to transform the way we all experience the world’s game.”