FIFA takes first blockchain steps with Algorand

May 3 – FIFA is entering the world of blockchain technology via a sponsorship and technical partnership with US business Algorand.

The sponsorship will see Algorand become a Regional Supporter in North America and Europe for the Qatar 2022 world cup, as well as an official sponsor of the Women’s World Cup Australia and New Zealand 2023.

The technical partnership will see Algorand provide the official blockchain-supported wallet solution. Although not saying so directly, though alluding to it indirectly, Algorand will likely lead FIFA into football’s latest rush to capitalise on the opportunity of NFTs.

“Algorand will also assist FIFA in further developing its digital assets strategy, while FIFA will provide sponsorship assets including advertising, media exposure and promotional opportunities,” said FIFA.

“This partnership with FIFA will showcase the potential that the Algorand blockchain has to transform the way we all experience the world’s game,” said Silvio Micali (pictured right), founder of Algorand.

FIFA president Gianni Infantino, in Los Angeles for the announcement, said: “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.”

FIFA’s new chief business officer Romy Gai emphasised the further opportunity that entering into a blockchain partnership brings. No value was given for the deal though much will likely depend on how fast Algorand can help enable new, monetisable, digital product for FIFA.

“This announcement is an exciting moment for FIFA, as it officially enters into the world of blockchain and the opportunities this presents across various applications. At FIFA, we must constantly strive to identify and explore the most cutting-edge, sustainable and transparent means of increasing revenues to continue to support global football development,” said Gai.

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