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FIFA: Embracing the blockchain

Soccer

May 04, 2022
NAOMI BAKER - FIFA/FIFA VIA GETTY IMAGES
NAOMI BAKER - FIFA/FIFA VIA GETTY IMAGES

The GIST: FIFA introduced another sponsor for next year’s Women’s World Cup on Sunday — blockchain network Algorand. The move marks the governing body’s deepening involvement in blockchain and, on the flip side, the digital space’s increasing support of women’s sports.

The details: In addition to being an official sponsor of next summer’s women’s tourney, Algorand will also be the official blockchain platform of FIFA and a regional supporter of this year’s men’s World Cup for North America and Europe.

  • There are benefits for both parties. Algorand will collaborate with FIFA on the soccer body’s digital assets strategy, and FIFA will provide Algorand media exposure and promo opportunities.

Zooming out: Blockchain-based brands have wasted little time embedding themselves in the sports world — take LA’s Crypto.com Arena for instance. And while platforms were slow to enter the women’s sports space, they’re now catching up in a major way. That’s one way to close the cryptocurrency gender gap.

  • Algorand is distinctly choosing to work in women’s soccer. The network signed a deal in March to be the front-of-jersey sponsor of the NWSL’s NJ/NY Gotham FC. Talk about a golazo.