FIFA Announces Algorand as its New Blockchain Partner for the World Cup

Federation Internationale de Football Association (FIFA) has tapped Algorand as its official blockchain partner for the upcoming world cup competition coming up in Qatar. Specifically, Algorand has been named the FIFA World Cup Qatar 2022™ Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023™ Official Sponsor.

“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,” said FIFA President Gianni Infantino.

Stirring a Mutually Beneficial Partnership

The partnership is a mutually beneficial one that will enable Algorand to develop the digital strategy for the world’s footballing governing body. As a blockchain development firm, Algorand will also help in creating a digital wallet that can keep custody of digital assets for FIFA which may also launch Non-Fungible Token (NFT) in the course of the tournaments ahead.

Blockchain protocols are aiming to revolutionize different industries and areas of human endeavors with football among those been invaded the most. The scalability and energy efficiency of the Algorand blockchain comes off as one of the selling points of the platforms and in return for its tech services, FIFA will grant Algorand worldwide publicity that will span ads, media exposure, and promotional opportunities.

“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,” said FIFA Chief Business Officer Romy Gai. “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.”

Besides Algorand, FIFA has also tapped Crypto.com as its exchange partner for the forthcoming world cup competition as more crypto-linked entities continue to wade into the world of sports in a bid to take the entire industry mainstream.