FIFA President Gianna Infantino and Algorand founder Silvio Micali announced that Algorand will become the official blockchain platform of FIFA.
FIFA (Fédération Internationale de Football Association) is a nonprofit organization formed in 1904 to oversee, organize, and promote football (soccer) competitions. Their major source of income is through television, marketing, and licensing rights for soccer events- the biggest being the World Cup. FIFA can generate more than $4.5 billion in annual revenue, in the years that the World Cup takes place (every four years).
Some of FIFA’s major partners includes Coca-Cola, Adidas, and Visa.
The agreement between FIFA and Algorand includes a sponsorship and technical sponsorship deal.
“The agreement means Algorand will become the official blockchain platform of FIFA and provide the official blockchain-supported wallet solution. As per the sponsorship agreement, 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.”
