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The native token of Algorand soared nearly 14% after signing a deal to become the “blockchain platform of FIFA” and provide a wallet solution at the upcoming sports event.
Source: FIFA.
ALGOUSD up +14.17%, BTCUSD down -0.32%
The company will be regional support of the World Cup in North America and Europe and also the official sponsor of the Women’s World Cup to be held next year in North America and New Zealand.
The announcement further indicated that Algorand would assist FIFA in the development of its digital assets strategy.
FIFA would in return provide sponsorship assets, including advertising, media exposure and promotional opportunities.
Gianni Infantino, President of FIFA, stated that the collaboration is a clear signal of FIFA’s commitment to continually invest in innovative channels for sustainable revenue growth for reinvestment into football. Red arrow on white background with logo algorand
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