Blockchain platform and cryptocurrency protocol Algorand has been named as one of the official sponsors for the 2022 FIFA World Cup to be held in Qatar and in other parts of Europe and North America.
The announcement was made at the conference held last May 2, 2022 where Infantino shared his excitement and expectations from the partnership.
‘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’, he said
He continued, saying that this partnership is a ‘key element of our Vision to make football truly global. I look forward to a long and fruitful partnership with Algorand’.
On the other hand, Algorand founder Micali also shared his thoughts on the partnership. ‘This partnership with FIFA, the most globally recognized and distinguished organisation in sports, will showcase the potential that the Algorand blockchain has to transform the way we all experience the world’s game’.
The partnership was made public with a photo of FIFA President Gianni Infantino and Algorand founder Silvio Micali in an official tweet published by Algorand last May 3, 2022. The two were photographed holding a football and posing for the camera with smiles all around.
Algorand will be making its debut as the first blockchain platform sponsor in the history of FIFA. This feat is considered a big step in blockchain technology’s versatility in all industries around the world.
Reports made by Bitcoinist in an article published last May 3 show that the partnership entails Algorand becoming the blockchain-supported wallet solution for crypto investments and transactions.
After the news of the partnership was released, ALGO’s price surged by more than 20%, according to reports made by CoinDesk. The resistance of the overall value in terms of price fluctuations is currently maintaining a good trajectory and is expected to do so until the commencement of the FIFA World Cup.
The sponsorship will also be active next year for the FIFA Women’s World Cup in Australia and New Zealand.
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