FIFA Comes To Algorand
A marriage between sports and crypto just makes sense
Dear subscriber,
Late in the day on Monday, the Algorand Foundation and FIFA made a huge announcement. That blockchain is now the first official crypto platform for FIFA and the upcoming World Cup in November and December of this year.
When fans gather for the next World Cup, they’re going to see Algorand everywhere.
In addition, Algorand will be a regional sponsor of the games for fans in North America and Europe, will assist FIFA in development of digital assets, will create an official wallet, and will sponsor the Women’s World Cup in 2023.
All major developments—and not just for holders of Algorand (full disclosure, I do own Algorand and have held that position for over year).
This partnership says a lot about the increasing relationship between sports and crypto. The sports world sees crypto, NFTs, and other digital assets as important aspects to the future of the fan experience. A few weeks ago, I had the honor of participating in a panel discussion at the University of Cincinnati, and one of the other panelists spoke at length about how universities are working hard to develop crypto assets for fans—particularly younger ones. The NBA has already made several moves with regard to crypto. This year’s Super Bowl could have been renamed the Blockchain Bowl, considering how many cryptocurrency exchanges purchased advertising and sponsorship.
I’m just naming the first few examples I can think of right now. The point is, this relationship is tightening.
And this move is huge for those cheering on Algorand (myself included). Despite well-known controversies and extreme corruption, FIFA’s World Cup is one of the most watched sporting events in the world. Over 3 billion people watched the 2018 competition. Expect the 2022 games to bring in similar numbers.
Imagine the return on investment in marketing dollars alone that this partnership will bring for Algorand.
As for the development of digital assets, if that goes well then I wouldn’t be a surprised if other sports outlets make their way to Algorand’s technology. Overnight, Algorand’s price pumped more than 20%, a notable development considering the sideways and bearish sentiments dominating the crypto markets.
Watch this space, friends. This is only the beginning….
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.