Seeking Alpha
2022-05-03 20:02:13

Algorand follows Crypto.com's move to partner with FIFA World Cup

As cryptocurrency firms take on sports sponsorship deals in an effort to gain brand awareness and customer engagement, blockchain tech firm Algorand (ALGO-USD) is the latest to become an official blockchain partner of FIFA ahead of this year's World Cup tournament, according to a release May 1. Algorand (ALGO-USD +10.2%) tokens are climbing to $0.67 in Tuesday afternoon trading. As per Algorand's (ALGO-USD) deal, the company will be regional supporter for North America and Europe at the World Cup Qatar 2022 tournament, the release said. It will also be an official sponsor of a FIFIA Women's World Cup Australia and New Zealand 2023. Overall, Algorand (ALGO-USD) will help FIFA further develop its digital asset strategy in return for sponsorship assets including advertising and media exposure. "The collaboration is a clear indication of FIFA's commitment to continually seeking innovative channels for sustainable revenue growth for further reinvestment back into football ensuring transparency

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