FIFA and Algorand have formed a sponsorship and technical partnership, making the blockchain technology company the official blockchain platform of the global football governing body.
Providing its official blockchain-supported wallet solution, Algorand will be a FIFA World Cup Qatar 2022 regional supporter in North America and Europe, as well as a FIFA Women’s World Cup Australia and New Zealand 2023 official sponsor.
FIFA Chief Business Officer, Romy Gai, commented: “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.”
Furthermore, Algorand will also assist FIFA in further developing its digital assets strategy, while the football authority will provide sponsorship assets which have been revealed as advertising, media exposure and promotional opportunities.
FIFA President, Gianni Infantino, added: “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.
“This is a key element of our Vision to make football truly global. I look forward to a long and fruitful partnership with Algorand.”
Silvio Micali, Founder of Algorand, explained that the company has focused on building technology that ‘promotes inclusivity, opportunity and transparency’.
He concluded: ““This partnership with FIFA, the most globally recognised 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.”