Algorand Enters Partnership With FIFA For Upcoming World Cup 2022

FIFA and Algorand have announced a sponsorship and technical partnership, making Algorand the official blockchain platform of the world football governing organization. Algorand will deliver its blockchain-based wallet solution for the FIFA World Cup Qatar 2022 and the FIFA Women's World Cup Australia and New Zealand 2023.

Globally extensive exposure

Due to Algorand's assistance in developing FIFA's digital assets strategy, FIFA will provide sponsored assets such as advertising, media exposure, and promotional opportunities.

 

FIFA President Gianni Infantino stated:

“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.”

According to Algorand founder Silvio Micali, the company has focused on technology that "promotes equality, opportunity, and transparency." Following the FIFA news, Algorand's native ALGO coins saw a 20% price boost, according to CMC statistics.

Prices have surged to $0.73 as of Monday, breaking through the $0.60 barrier. However, price charts show resistance at the current level, which corresponds to the trend's tiredness following Monday night's spike.

The notional $1.3 million in futures market liquidations suggests that spot ALGO was the main driver of the spike. When the shorts, or bets against a price increase, were closed off, they totaled $867,000. The Algorand price today is $0.733541 USD, according to CMC, with a 24-hour trading volume of $697,820,679 USD. In the previous 24 hours, Algorand has down 3.31 percent.

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