(FIFA) Algorand’s native token ALGO rose by double digits on Tuesday after FIFA announced the blockchain platform as its official sponsor of the 2022 World Cup in Qatar.
The agreement allows Algorand to be the regional supporter of the World Cup in Europe and North America, as well as the official sponsor of 2023 Women’s World Cup in New Zealand and Australia.
FIFA said that Algorand will provide a wallet solution during the event. FIFA further added that Algorand will help the sporting body to develop a digital assets strategy.
Algorand is set to benefit from the event through advertising, access to promotional opportunities, and media exposure.
FIFA Chief Business Officer Gomy Gai said the collaboration is an exciting moment for the sporting body as it enters into blockchain and opportunities therein. FIFA president Gianni Infantino lauded the partnership as key in the globalization of football.
ALGOUSD is up +17.04%
