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Algorand turned FIFA’s first US-based sponsor in additional than a decade
Blockchain mission Algorand has signed a partnership with FIFA, changing into the official blockchain sponsor of the 2022 FIFA World Cup that’s scheduled to kick off on Nov. 21.
The monetary phrases of the high-profile deal haven’t been disclosed.
FIFA can even create its personal cryptocurrency technique with the assistance of Algorand. The best governing physique of affiliation soccer plans to situation its personal assortment of non-fungible tokens.
The worth of the ALGO token has surged greater than 20% over the previous 24 hours, in keeping with CoinMarketCap knowledge.
In the meantime, the highest 10 largest cryptocurrencies are in purple, with LUNA being the one main altcoin that has managed to buck the development.
In February, Tezos, one other distinguished proof-of-stake blockchain, scored a partnership with skilled English soccer membership Manchester United in February.
In March, Algorand additionally inked a three-year equipment sponsorship with Gotham FC, a skilled ladies’s soccer group based mostly in New Jersey.
Earlier this 12 months, former JPMorgan govt Staci Warden was appointed as Algorand’s chief govt officer.
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