Algorand and FIFA, a well-known organization that oversees the World Cup competition, have agreed to sponsorship and technical collaboration. Under the terms of this agreement, Algorand will offer FIFA the official blockchain-supported wallet. The innovative blockchain platform’s creator, Algorand, offers scalable, decentralized blockchain architecture. Gianni Infantino, the president of FIFA, and Silvio Micali, the creator of Algorand, announced the partnership on Monday in Los Angeles.
As a regional partner, Algorand will support the 2022 FIFA World Cup in North America and Europe, which will be held in Qatar in November and December. The agreement specifies that Algorand will also be the official sponsor of the 2023 Women’s World Cup in Australia and New Zealand. Expert gamblers claim that the arrangement will enhance FIFA betting as well.
The official entry of FIFA into blockchain technology and the prospects it brings across numerous applications make this announcement exciting for FIFA and several FIFA betting sites. It also clearly demonstrates FIFA’s recent interest in the cryptocurrency market. The pandemic negatively influenced income and revenues in the sports market, which is why many leagues of sports began to look into the most innovative, transparent, and long-term ways to boost money to keep supporting the growth of international football.
Algorand is undoubtedly a forward-thinking, creative partner who can assist FIFA in achieving these objectives. All football fans can acquire “unique digital artifacts” from this open and affordable platform, including the most recognizable photographs and artwork from the FIFA World Cup and FIFA Women’s World Cup, as well as the most memorable game moments.
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