Algorand Becomes 2022 Qatar World Cup’s New Blockchain Partner

FIFA has formed new finance and technical collaboration arrangement with blockchain firm Algorand (ALGO). Algorand will become FIFA’s official blockchain engineering partner as a result of this event. Algorand will be FIFA’s regional sponsor in North America and Europe for the 2022 FIFA World Cup Finals in Qatar, as well as the 2023 FIFA Women’s World Cup in Australia and New Zealand, under the terms of the agreement. FIFA announces partnership with blockchain innovator @Algorand 👉 https://t.co/X7ahbSzCfl 📸 @MilkenInstitute | #MIGlobal pic.twitter.com/bqCmLFjhnO — FIFA Media (@fifamedia) May 2, 2022 Furthermore, Algorand will aid FIFA in further developing its digital asset strategy by providing blockchain wallet alternatives and bolstering FIFA’s visibility in the football-related NFT industry. Meanwhile, FIFA will assist Algorand is becoming more well-known in the media and developing promotional opportunities for the platform. Notably, Algorand is the first US-based World Cup sponsor since 2011, just over a decade after FIFA was repeatedly implicated in a US federal investigation into corruption in international football and struggled to retain long-term partnerships with major brands such as Coca-Cola, Visa, McDonald’s, and Budweiser. Until a few months ago, FIFA had negotiated almost all sponsorship deals for the 2018 and 2022 World Cups with companies from the two host countries, Russia and Qatar, as well as China. FIF...