Algorand becomes the first US blockchain sponsor of the FIFA World Cup

The mass introduction of any technology/trend/application, etc., is in most cases possible through partnerships with popular mainstream companies or brands. This is a truth that has long ceased to be a mystery not only for marketers but for the entire global community. But cryptocurrency has found a relatively new path – sports events. And in a fairly short time, it has achieved great success.

 

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Global soccer governing body FIFA has announced that it is finally entering the world of blockchain. The organization made the news of signing a sponsorship and technical partnership with Algorand’s Pure Proof of Stake (PPoS) protocol. As it became known, Algorand will not only be FIFA’s chosen blockchain solution but will also provide the organization with an official blockchain wallet and help the organization develop its “digital asset strategy”.

 

Many world-renowned clubs such as Manchester City, Paris Saint-Germain, Juventus, Atletico Madrid and others in recent years are actively integrating into the world of cryptocurrency, launching partnership NFT-projects and fan coins, and sometimes even using cryptocurrency to buy players (eg, Real Madrid). This not only popularizes cryptocurrency but also helps clubs promote their interests on different platforms.

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Such partnership agreements clearly benefit the other side as well. For example, in this case, Algorand will receive many sponsorship and advertising opportunities, including at the 2022 World Cup in Qatar. The companies’ top executives also said they did not rule out sponsorship and advertising contracts for Algorand at the 2023 Women’s World Cup in Australia and New Zealand.

 

In addition, according to TradingView, after signing a partnership agreement between Algorand and FIFA, the value of ALGO increased by almost 20%. Maybe this is the best time to ask yourself how to buy cryptocurrency? Anyway, many analysts believe that blockchain has a bright future ahead of it thanks to this collaboration, despite the platform’s rather late appearance. In other words, the increased popularity of Algorand, combined with the expansion of the ecosystem, could lead to a much larger market capitalization of the ALGO token.


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