Fifa Agrees World Cup Blockchain Partner
World football’s governing body, FIFA, has confirmed a sponsorship and technical partnership with blockchain technology company Algorand.
The agreement means Algorand will become the official blockchain platform of FIFA and provide the official blockchain-supported wallet solution. The agreement with Algorand will include sponsorship opportunities and support across the FIFA World Cup Qatar 2022. It also becomes an official sponsor of the FIFA Women’s World Cup Australia and New Zealand 2023.
Algorand will also assist FIFA in further developing its digital assets strategy, while FIFA will provide sponsorship assets including advertising, media exposure and promotional opportunities.
FIFA President, Gianni Infantino, said, “We are delighted to announce this partnership with Algorand. 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 – a key element of our Vision to make football truly global. I look forward to a long and fruitful partnership with Algorand.”
FIFA Chief Business Officer, Romy Gai, added, “This announcement is an exciting moment for FIFA, as it officially enters into the world of blockchain and the opportunities this presents across various applications. At FIFA, we must constantly strive to identify and explore the most cutting-edge, sustainable and transparent means of increasing revenues to continue to support global football development. Algorand is clearly a forward looking, innovative partner that can help us achieve these goals.”
Founded by Turing Award-winning cryptographer Silvio Micali, Algorand provides blockchain technology for over 2,000 global organisations, governments and digital-native defi applications. Algorand works with organisations in finance, gaming, music, art and the sports world that seek to adopt Web3 digital capabilities as a path to accelerate growth, inclusiveness, and innovation in an environmentally responsible way.
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