Arguably the most globally recognised and distinguished organisation in sports, FIFA, have announced its partnership with climate-conscious blockchain innovator Algorand. The partnership will see Algorand become the official blockchain platform of FIFA, where it will provide the footballing institution with a blockchain-supported wallet solution.
As per the partnership agreement, Algorand will also assist FIFA in further developing its digital assets strategy, whilst also becoming sponsorship partners of upcoming FIFA events. Such events include the FIFA World Cup Qatar 2022, where it will serve as ‘Regional Supporter in North America and Europe,’ as well as the FIFA Women’s World Cup Australia and New Zealand 2023, where it will serve as the official sponsor.
The deal was announced by FIFA’s President Gianni Infantino and Algorand’s Founder Silvio Micali last week, with Infantino having this to say: “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”.
In inking the deal, FIFA become one of over 2,000 global organisations, governments, and digital-native DeFi applications to appoint Algorand as its blockchain solution. Along with the implicit conditions of the partnership, the organisation will also become part of blockchain’s mission to accelerate environmentally responsible growth, inclusiveness, transparency and innovation within the ever-emergent Web3 space.