FIFA announced a partnership with the Proof-of-stake blockchain Algorand. Algorand will become the organization’s long-term official blockchain platform and it will help FIFA develop its digital asset strategy including a blockchain-supported wallet solution.
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 – a key element of our Vision to make football truly global.
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FIFA President Gianni Infantino The partnership between Algorand and FIFA was announced by FIFA President Gianni Infantino and Algorand founder Silvio Micali in Los Angeles. Algorand’s native token, ALGO, surged in price by more than 20% following the news. Noting that the deal comes weeks after Crypto.com, a leading crypto exchange, became an official brand sponsor of the upcoming World Cup for an undisclosed sum.
Source: blockchaintechnology-news