FIFA Confirms Algorand Partnership
FIFA President Gianna Infantino and Algorand founder Silvio Micali announced that Algorand will become the official blockchain platform of FIFA.
FIFA (Fédération Internationale de Football Association) is a nonprofit organization formed in 1904 to oversee, organize, and promote football (soccer) competitions. Their major source of income is through television, marketing, and licensing rights for soccer events- the biggest being the World Cup. FIFA can generate more than $4.5 billion in annual revenue, in the years that the World Cup takes place (every four years).
Some of FIFA’s major partners includes Coca-Cola, Adidas, and Visa.
The agreement between FIFA and Algorand includes a sponsorship and technical sponsorship deal.
“The agreement means Algorand will become the official blockchain platform of FIFA and 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.”
