FIFA, aka the Fédération Internationale de Football Association, announced that it has entered into a partnership with the smart contract protocol Algorand (ALGO). This is the first partnership the football association has entered into with an altcoin. After this news, there was a significant increase in the price of ALGO. Here are the details…
FIFA and Algorand partnership established: Here are the details
The agreement will make Algorand (ALGO) “FIFA’s official Blockchain platform” and provide the official Blockchain powered wallet solution. Algorand will sponsor the 2022 Men’s World Cup event in Qatar, as well as the 2023 Women’s World Cup in Australia and New Zealand. Gianni Infantino, FIFA President, used the following expressions in his statements on the subject:
Collaboration is FIFA’s commitment to constantly seeking innovative channels to provide transparency to our stakeholders and football fans worldwide, to reinvest more in football, to achieve sustainable revenue growth. It is a clear sign of commitment. I look forward to a long and fruitful partnership with Algorand.
Altcoin projects stand out in the field of football
As we have also reported on Kriptokoin.com, professional football clubs such as Real Madrid and Inter Milan, ERC20-based token Chiliz (CHZ) They have already embraced cryptocurrencies early thanks to their fan token partnership with . Meanwhile, the first line of the press release released by FIFA reveals the fact that the Blockchain company is environmentally friendly. As part of the partnership, Algorand will help FIFA develop its digital asset strategy. At the same time, FIFA will provide sponsorship products such as media communications, advertising and promotional opportunities.
Algorand Blockchain is home to more than 2000 global organizations and decentralized finance (DeFi) applications to date. It also helps organizations in industries such as music, games, finance, arts and sports. After the FIFA news, the price of ALGO increased by up to 20 percent. The cryptocurrency, which is in the 31st place with a market value of $ 4.8 billion, has increased from $ 0.58 to $ 0.73 in the last 24 hours. At the time of writing, it’s changing hands at $0.72, up 19.3 percent.
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