Crypto network became an official sponsor of FIFA: price increase due to the news is 20%

The Algorand crypto network has become an official sponsor of FIFA — the agreement was announced yesterday. Algorand has become a technical partner and the main blockchain of the football federation. The crypto project will also become the official sponsor of the FIFA Women’s World Cup, which will be held in Australia and New Zealand in 2023.

BREAKING: @FIFAcom has announced #Algorand will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more? https://t.co/LTTUqGNLNA @FIFAWorldCup #FIFAWorldCup pic.twitter.com/LuEFTY3WK6 — Algorand (@Algorand) May 2, 2022

Under the contract, the network’s representatives will help FIFA officials create a long-term strategy for the federation’s digital assets. This applies to both tactical projects such as NFT collections and global projects such as the creation of a «single wallet» for the entire institution, which probably includes backend solutions and, conversely, new external projects aimed at football viewers and fans. The token’s price has already risen by more than 20% on the back of the news.