Algorand (ALGO), a known US blockchain , has become the official sponsor of FIFA World Cup Qatar 2022 and FIFA Women’s World Cup Australia and New Zealand 2023. Algorand will be the regional sponsor in Europe and North America.
Besides the sponsorship, Algorand formed a technical partnership, which means that Algorand may develop non-fungible tokens (NFTs) for the upcoming World Cup.
In addition, it will benefit from large media exposure, advertisements and promotional campaigns by FIFA.
The size of the deal is undisclosed.
Agorand was formed in 2017 by Silvio Micali, an MIT professor. Staci Warden, the former JPMorgan executive is Algorand's Chief Executive Officer (CEO).
Officials Remarks
FIFA's 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 worldwide 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's Chief Business Officer, Romy Gai said: “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.”
Silvio Micali, the Founder of Algorand, added: "From the beginning, Algorand has focused on building technology that promotes inclusivity, opportunity and transparency for all.
"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.”
In March 2022, Crypto.com became the exclusive crypto trading exchange to sponsor the World Cup. Similar to Algorand, Crypto.com will benefit from significant media exposure.
