Algorand scored a goal: it will help FIFA develop a “digital asset strategy” and provide it with an official “wallet solution”.
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The blockchain projectAlgorand (ALGO) and the Fédération Internationale de Football Association, better known as FIFA, signed a sponsorship agreement. FIFA announced in a press release .
The sponsorship and technical partnership agreement converts theAlgorand in the first partner Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. the world’s largest football organisation. As part of the association,Algorand will be the regional sponsor, in North America and Europe, of the 2022 FIFA World Cup? in Qatar later this year.
Algorandwhose market an area or arena, online or offline, in which commercial dealings are conducted. capitalization ranks it No. 29 among the largest cryptocurrencies on the market, will also be an official sponsor of the FIFA Women’s World Cup in Australia and New Zealand in 2023.
The news comes just a few weeks after the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Crypto.com to become a sponsor of the 2022 football World Cup, after signing a similar agreement with FIFA.
FIFA chooses Algorand as your official sponsor
The Proof of Stake (PoS) blockchain will furthermore take care ofproporcionar una “ Blockchain-enabled official wallet a place where cryptocurrency users can store, send and receive digital assets. solution “for FIFA . The football organization, which mentioned the tokens Non-Fungible Textiles (NFT) in the release, he added thatAlgorand will help FIFA to develop its “ digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset strategy “.
The ad suggests that FIFA could take advantage of the technology ofAlgorand to bring new experiences to football fans, including the release of an NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. collection.
On the other hand, the agreement will put the project Blockchain in the eyes of millions of viewers. The World Cup is one of the most televised sporting events in the world. The 2018 competition, which took place in Russia, was watched by more than 3.2 billion people, or about half of the world’s population over the age of four, according to the World Cup’s Cointelegraph .
FIFA President Gianni Infantino expressed his enthusiasm for the agreement in the statement and stressed that the partnership is a “ clear indication of FIFA’s commitment to continually seeking innovative channels “. FIFA Commercial Director Romy Gai added:
It’s an exciting time for FIFA, as it officially enters the world of Blockchain and the opportunities this presents in various applications. At FIFA, we must constantly strive to identify and explore the most innovative, sustainable and transparent means of increasing revenue to further support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. the development of world football. Algorand is clearly an innovative and forward-thinking partner that can help us achieve these goals.
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
ALGO rises more than 15% after agreement
Si bien no es el primer patrocinador de la industria criptográfica para FIFA, se trata de la primera plataforma de cadena de bloques en firmar un acuerdo de su tipo con los organizadores del popular torneo de fútbol. También es el primer patrocinador de la Copa Mundial con sede en los Estados Unidos desde 2011
Founded by Silvio Micali , Algorand is touted as a blockchain of ” pure participation test “. It claims to be the only network a network refers to all nodes in the operation of a blockchain at any given moment in time. that has solved the so-called Trilema blockchain to achieve high scalability or performance without sacrificing security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. or decentralization. As he points out CryptoBriefing The network can currently process more than 1,200 transactions per second, and has long-term plans to scale to 45,000 transactions per second.
The news seems to have been received with enthusiasm, as it drove up the price of ALGO, the project’s native cryptocurrency. According to data from CryptoMarkets The token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. traced an upward curve on Tuesday afternoon when it moved from the USD $0.6 range above USD $0.7. By the time of editing, ALGO is trading at USD $0.68 with an increase of 17% in the last 24 hours.
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Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash
