HomeBlockchainAlgorand flies high: the partnership with FIFA is working

Algorand flies high: the partnership with FIFA is working

Algorand: the partnership with FIFA for the World Cup in Qatar realized in early October, is finally showing fruit. 

Thanks to the drop of the NFT collection, FIFA + Collect and its new update, the Algorand blockchain has had a 15% increase in just a few days since the start of the World Cup. 

FIFA+ collect and its new update drive Algorand’s price up

The deal in question will make Algorand the official blockchain platform of FIFA and provide the sports giant with an official blockchain-supported wallet solution. For its part, Algorand will benefit from FIFA’s sponsorship, becoming a regional supporter of FIFA World Cup Qatar 2022 and an official sponsor of FIFA Women’s World Cup Australia and New Zealand 2023.

The new digital collectibles platform enables soccer fans around the world to own unique digital collectibles at affordable prices. Fans can purchase images and moments from the game, via sachet packs of FIFA World Cup and FIFA Women’s World Cup NFT “stickers” from some of the greatest historical matches. 

FIFA Director of External Affairs Romy Gai stated:

“Fandom is changing and soccer fans around the world are engaging with the game in new and exciting ways. This exciting announcement makes FIFA collectibles available to all soccer fans, democratizing the opportunity to own a piece of the FIFA World Cup. Just like sports memorabilia and stickers, this is an accessible opportunity for fans around the world to interact with their favorite players, moments and more on new platforms.”

With the new update, released as early as the world started, the FIFA+ platform has registered thousands of users. A small step toward the future of a more modern, digital fanbase. 

FIFA President Infantino announced: 

“I look forward to a long and fruitful partnership with Algorand. The partnership is a clear indication of Fifa’s commitment to continually seek innovative channels for sustainable revenue growth for further investment in soccer, providing transparency to our stakeholders and fans around the world.”

Algorand claims to be the most efficient, environmentally friendly and secure platform in the world

We are talking about a particularly heartfelt and relevant project within the crypto and blockchain-loving community. 

Indeed, by many specialists in the field, Algorand is regarded as one of the most interesting and useful projects currently in existence. 

Endorsed by a large group of engineers and computer scientists, Algorand’s goal is to redesign blockchain technology so that it becomes infinitely scalable. Algorand aims to create a borderless economy through its decentralized, permissionless public blockchain.

The words of its founder, MIT professor Silvio Micali:

“Algorand has removed the technical barriers that have undermined traditional blockchain adoption for years. We designed Algorand’s blockchain to give global innovators the fundamental confidence they need to implement change.”

The way Algorand works is essentially based on these three parameters: scalability, decentralization and security. Indeed, the Algorand team wants to offer an efficient and ultimate solution to the so-called “Blockchain Trilemma,” which is the co-presence of the above three factors that would ideally make a blockchain “perfect.”

With its new partnership with FIFA, it has earned the position of Official Sponsor of the event, a great stage to showcase its platform so cherished in the crypto ecosystem