- FIFA and blockchain technology company Algorand agreed upon sponsorship and technical partnership.
- Algorand becomes FIFA’s official blockchain, regional supporter in the World Cup Qatar 2022TM, and official sponsor at Women’s World cup Australia and New Zealand 2023TM.
- The alliance encompasses Algorand’s assistance to develop the global digital assets strategy of FIFA.
In Los Angeles, California, Algorand, the carbon-neutral blockchain tech company, and FIFA announced their new partnership. The deal makes Algorand the official blockchain platform of FIFA.
As part of the incoming activities, Algorand will be FIFA World Cup Qatar 2022TM Regional Supporter in North America and Europe, and an Official Sponsor at FIFA Women’s World Cup Australia and New Zealand 2023TM.
Gianni Infantino, President of FIFA, declared: “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.”
Moreover, the new alliance encompasses sponsorship, support, and assistance in developing FIFA’s digital assets strategy, along with advertising, marketing, and promotional opportunities.
Chief Business Officer at FIFA, Romy Gai, considers that this is an exciting moment for the football association, not only because it represents FIFA’s official entrance into the world of blockchain and its multiple applications, but also it is the possibility of identifying and exploring cutting-edge, sustainable, and transparent sources of revenue that will favor global football development in the future.
On his side, Silvio Micali, winner of the Turing Award, cryptographer, and founder of Algorand said: “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”.
Algorand is a carbon-neutral, decentralized, scalable, and secure blockchain infrastructure focused on building technology with inclusiveness, transparency, and opportunity for all. With a permissionless pure Proof-of-Stake consensus algorithm, it ensures participation, protection, speed, and immediate transaction finality, on par with large payment and financial networks.
Therefore it is the preferred blockchain of approximately two thousand global organizations including governments and decentralized finance applications whereas the Algorand Foundation promotes digital capabilities to increase Web3 adoption in finance, gaming, music, art, and sports, seeking to accelerate growth and innovation.