A new partnership is hovering over the crypto news channels and sports organizations. Today FIFA has announced the partnership with Algorand blockchain and will represent as their official sponsor. The soccer’s official and global governing body FIFA, announced Algorand as its blockchain partner months before the World Cup finals start in November this year in Qatar
According to the official agreement, Algorand will serve as a regional supporter for the World Cup in North America & Europe. Also, the blockchain organization will be an official sponsor of the Women’s World Cup Australia and New Zealand next year.
Currently, FIFA has officially partnered with Coca-Cola, Adidas, Qatar Airways, Kia Motors, Hyundai, and Wanda-Group. In addition, FIFA wants to step into Web3.0 with Algorand blockchain to develop its digital asset strategy for the future.
Algorand can greatly impact FIFA to develop non-fungible tokens (NFTs) of FIFA Soccer moments, just like the NBA Top Shots NFT collection (the most popular NFT collection related to basketball sports). Additionally, Algorand will provide an official-blockchain supporting wallet for FIFA as a mark for their technical strategic partnership.
Besides, the green blockchain technology company Algorand will leverage the opportunity to further promote and develop its digital assets strategy. It can lure many developers, advertising agencies, and promotional activities through worldwide media exposure to FIFA.
ALGO token surge to 20%
ALGO the native cryptocurrency of Algorand Blockchain has broken the one-week price resistance of $0.6. At press time ALGO is rallying at $0.703220 with a market capitalization of 4.7 billion dollars. Furthermore, in the last 24 hours, the trading volume has risen to 300% high worth around $716,621,026.