May 3, 2022
By Murtuza Merchant
World football’s governing body FIFA has signed up a sponsorship and technical partnership deal with Algorand, wherein the blockchain technology company will provide the official blockchain-supported wallet solution.
As per the sponsorship agreement, Algorand will be a FIFA World Cup Qatar 2022 Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023 Official Sponsor.
As part of the agreement, Algorand will also assist FIFA in further developing its digital assets strategy, while FIFA will provide sponsorship assets including advertising, media exposure, and promotional opportunities.
“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 – a key element of our Vision to make football truly global. I look forward to a long and fruitful partnership with Algorand,” FIFA President Gianni Infantino said.
FIFA Chief Business Officer Romy Gai added that the announcement is an exciting moment for FIFA, as it officially enters into the world of blockchain and the opportunities this presents across various applications.
He added that FIFA constantly strives to identify and explore the most cutting-edge, sustainable, and transparent means of increasing revenues to continue to support global football development and Algorand is a forward-looking, innovative partner that can help us achieve these goals.
About the author
Murtuza Merchant is a senior journalist and an avid follower of cryptocurrencies and blockchain.