FIFA 2022 in Qatar will have Blockchain supported Wallet
FIFA World Cup Qatar 2022 will have a blockchain supported wallet. FIFA organization has teamed up with Algorand Blockchain company for both a sponsorship and technical partnership deal. Algorand will become the official blockchain platform of FIFA and provide the official blockchain-supported wallet solution.
As per the sponsorship agreement, Algorand will be a FIFA World Cup Qatar 2022™ Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023™ Official Sponsor.
Blockchains allow non-editable data to be permanently recorded and distributed on digital networks, while also facilitating innovations and ensuring safe, untampered exchange of value and assets such as non-fungible tokens (NFTs), and through blockchain-enabled wallets holding digital assets.
As part of the agreement, Algorand will also assist FIFA in further developing its digital assets strategy, while FIFA will provide sponsorship assets including advertising, media exposure and promotional opportunities.
FIFA Chief Business Officer Romy Gai added: “This announcement is an exciting moment for FIFA, as it officially enters into the world of blockchain and the opportunities this presents across various applications. At FIFA, we must constantly strive to identify and explore the most cutting-edge, sustainable and transparent means of increasing revenues to continue to support global football development. Algorand is clearly a forward looking, innovative partner that can help us achieve these goals.”
Founded by Turing Award-winning cryptographer Silvio Micali, the Algorand blockchain is the technology of choice for over 2000 global organizations, governments and digital-native DeFi applications.
In March of 2022, FIFA announced that crypto.com would also be sponsoring the FIFA World Cup Qatar 2022. This was the first sponsorship of a crypto entity with FIFA. In 2021 FIFA announced it would be partnering with Esports tech players to expand its esports applications.