The International Football Federation (FIFA) has granted Algorand the status of a regional sponsor of the World Cup in Qatar. The protocol has become the official blockchain platform of the competition.
The project team will assist FIFA in developing an NFT-focused digital asset strategy and provide a tournament wallet solution.
Algorand will also be the official sponsor of the 2023 FIFA Women’s World Cup in Australia and New Zealand.
Gianni Infantino, the president of the sport organization, has said that the partnership with Algorand is in line with FIFA’s commitment to continuously seek “innovative channels for sustainable revenue growth”.
Algorand’s token has reacted to the news with a rise of almost 20% over the past 24 hours.
