{"id":570679,"date":"2022-05-03T13:41:44","date_gmt":"2022-05-03T12:41:44","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=570679"},"modified":"2022-05-03T13:42:52","modified_gmt":"2022-05-03T12:42:52","slug":"algorand-algo-pumps-17-as-company-agrees-on-blockchain-deal-with-fifa-for-2022-world-cup","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/algorand-algo-pumps-17-as-company-agrees-on-blockchain-deal-with-fifa-for-2022-world-cup\/","title":{"rendered":"Algorand (ALGO) Pumps 17% As Company Agrees On Blockchain Deal With FIFA For 2022 World Cup"},"content":{"rendered":"\n<ul><li>FIFA and Algorand signed an agreement on Tuesday<\/li><\/ul>\n\n\n\n<ul><li>The deal involves sponsorship for the upcoming World Cup tournament in Qatar later this November<\/li><\/ul>\n\n\n\n<ul><li>Algorand will also help the football organization actualize its virtual asset strategy<\/li><\/ul>\n\n\n\n<ul><li>The blockchain startup also plans to provide a crypto wallet solution for the tournament<\/li><\/ul>\n\n\n\n<ul><li>Algorand\u2019s token ALGO pumped following the news<\/li><\/ul>\n\n\n\n<p>Boston-based blockchain company Algorand <a href=\"https:\/\/www.fifa.com\/about-fifa\/president\/media-releases\/fifa-announces-partnership-with-blockchain-innovator-algorand\" rel=\"nofollow noopener\">announced<\/a> a key partnership with F\u00e9d\u00e9ration Internationale de Football Association (FIFA) for the 2022 Qatar World Cup football tournament in November.<\/p>\n\n\n\n<p>FIFA will onboard the startup as the official blockchain technology provider moving forward. Also, the agreement covers both the FIFA Men\u2019s and Women\u2019s World Cup competitions.<\/p>\n\n\n\n<p>The terms of the deal disclosed on Tuesday (May 3, 2022) also explained that Algorand will aid FIFA in expanding its digital asset strategy and establishing the organization\u2019s presence in the burgeoning digital economy.&nbsp;<\/p>\n\n\n\n<p>In addition, FIFA plans to leverage the firm\u2019s blockchain development expertise in a bid to deliver a cryptocurrency wallet solution for football fans around the globe.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">BREAKING: <a href=\"https:\/\/twitter.com\/FIFAcom?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">@FIFAcom<\/a> has announced <a href=\"https:\/\/twitter.com\/hashtag\/Algorand?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Algorand<\/a> will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more \ud83d\udc49 <a href=\"https:\/\/t.co\/LTTUqGNLNA\" rel=\"nofollow\">https:\/\/t.co\/LTTUqGNLNA<\/a> <a href=\"https:\/\/twitter.com\/FIFAWorldCup?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">@FIFAWorldCup<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/FIFAWorldCup?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#FIFAWorldCup<\/a> <a href=\"https:\/\/t.co\/LuEFTY3WK6\" rel=\"nofollow\">pic.twitter.com\/LuEFTY3WK6<\/a><\/p>&mdash; Algorand (@Algorand) <a href=\"https:\/\/twitter.com\/Algorand\/status\/1521266776276803585?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">May 2, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The World Cup tournament represents the gathering of a plethora of nations from around the world. Also, the competition is known for its massive viewership and commonly features billions of watchers from all corners of the globe.\u00a0<\/p>\n\n\n\n<p>As part of the agreement, FIFA will ensure that Algorand receives significant media exposure during the World Cup.<\/p>\n\n\n\n<p>Commenting on the news, Gianni Infantino, FIFA\u2019s current president said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>We are delighted to announce this partnership with Algorand. The collaboration is a clear indication of FIFA\u2019s commitment to continually seeking innovative channels for sustainable revenue growth for further reinvestment back into football ensuring transparency to our stakeholders and worldwide football fans \u2013 a key element of our Vision to make football truly global. I look forward to a long and fruitful partnership with Algorand.<\/p><\/blockquote>\n\n\n\n<p>Following the announcement, the company\u2019s native token Algo is up about 17% according to data from <a href=\"https:\/\/coinmarketcap.com\/currencies\/algorand\/\" rel=\"nofollow noopener\">CoinMarketCap<\/a>.<\/p>\n\n\n\n<h2>Crypto Companies Like Algorand and Crypto.com Lean Heavily Toward Sports Collaborations<\/h2>\n\n\n\n<p>While Algorand is the first blockchain company to partner with FIFA, the firm is the second outfit from the crypto space to sign a deal with the football organization. Earlier in March 2022, <a href=\"https:\/\/en.ethereumworldnews.com\/crypto-dot-com-8-card-apy\/\">Crypto.com<\/a> also agreed on a sponsorship deal with FIFA for the upcoming World Cup.&nbsp;<\/p>\n\n\n\n<p>Notably, the major exchange also has a kit deal with another sports franchise &#8211; Ultimate Fighting Championship (UFC).<\/p>\n\n\n\n<p>The multi-billion dollar sports industry has emerged as a key partner for cryptocurrency-focused businesses in recent years. Companies have splurged the big bucks in a bid to tap into mainstream audiences and drive widespread crypto adoption.&nbsp;<\/p>\n\n\n\n<p>Back in February 2022, exchanges like Crypto.com, <a href=\"https:\/\/en.ethereumworldnews.com\/ftx-debuts-crypto-exchange-for-australian-investors\/\">FTX<\/a>, and <a href=\"https:\/\/en.ethereumworldnews.com\/coinbase-launches-beta-nft-marketplace-with-ethereum-support-and-zero-fees-transactions\/\">Coinbase<\/a> reportedly spent millions to secure seconds of ad time during America\u2019s gridiron Super Bowl event. Following the marketing campaign, these platforms recorded a massive surge in patronage and sign-ups.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Algorand and FIFA&#8217;s recent world cup partnership triggered a 17% pump for ALGO on Tuesday.<\/p>\n","protected":false},"author":55,"featured_media":570680,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[108051,65,1162],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/570679"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=570679"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/570679\/revisions"}],"predecessor-version":[{"id":570683,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/570679\/revisions\/570683"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/570680"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=570679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=570679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=570679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}