Algorand (CRYPTO: ALGO) — a major proof-of-stake blockchain famous for being environmentally-friendly — will assist Fédération Internationale de Football Association (FIFA) in developing a digital assets strategy and official wallet solution.
What Happened: FIFA announced on Monday that it has "teamed up with blockchain technology company Algorand to agree a sponsorship and technical partnership deal." As part of the agreement, Algorand will also "assist FIFA in further developing its digital assets strategy" while receiving "advertising, media exposure and promotional opportunities."
See Also: How To Earn Free Crypto
The deal also means Algorand will become FIFA's official blockchain platform and provide an official crypto wallet solution. Furthermore, Algorand will be a FIFA World Cup Qatar 2022 Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023™ Official Sponsor.
FIFA Chief Business Officer Romy Gai highlighted that "this announcement is an exciting moment for FIFA, as it officially enters into the world of blockchain."
