Algorand, a blockchain network has joined forces with FIFA to host the 2022 FIFA World Cup. Altcoin is now the official U.S. partner for FIFA’s first ever blockchain project. This partnership will allow the FIFA to develop a long-term crypto strategy. A FIFA NFT collection, which celebrates the largest sporting event in the year, is just one of the upcoming perks.

Gianni Infantino, the president of FIFA, said: “this partnership is an indication of FIFA’s commitment to continually seeking innovative channels for sustainable revenue growth”.

BREAKING: The official blockchain for FIFA will be #Algorand, according to @FIFAcom. This is a great opportunity for global football communities to benefit from cutting-edge and sustainable technology. Read more https://t.co/LTTUqGNLNA @FIFAWorldCup #FIFAWorldCup pic.twitter.com/LuEFTY3WK6

— Algorand (@Algorand) May 2, 2022

Algorand, (ALGO), has revealed that it will provide a solution to crypto wallets for attendees of the event. But this partnership isn’t the first for crypto enterprises to partner with FIFA. Crypto.com, an official sponsor of crypto trading for the World Cup announced their partnership on March 23rd. The partnership with Crypto.com is focused primarily on the international market because Qatar has strict crypto laws.

A Carbon-Negative Blockchain to a Greener Future: The Promise

Algorand is a Proof of Stake blockchain that’s highly focused on being eco-friendly. Recently, Algorand announced a new smart contract that takes a portion from each transaction fee paid on ALGO’s blockchain network and processes it to buy carbon credits on ‘Climate Trade’, a blockchain-based carbon offset marketplace. Moreover, Staci Warden, the CEO of the Algorand Foundation, claims that the initiative paves way for other crypto companies to adopt environmentally-aware strategies.

Algorand has always tried to minimize our environmental footprint. This is why I’m excited to join our continuing commitment to sustainable growth and become carbon-negative! See more on Algorand’s eco-conscious efforts here: https://t.co/jwiMxhvZqr pic.twitter.com/myDpN7pX2C

— Silvio Micali (@silviomicali) April 23, 2021

Algorand’s (ALGO) Value Rises 20% in 24 Hours

Algorand’s smart business decisions, new partnerships, and some very good luck moves have paid off. The altcoin grew 23.6% over the last 24 hours. It is an impressive step forward. The TOP 30 cryptocurrencies have not seen their value grow more than 1% in 24 hours. The weekly growth for ALGO is 3.4%, and the TOP 20 most-popular cryptocurrencies are all in red.

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