Algorand Scores FIFA Partnership, ALGO Price Surges

The blockchain will be a "regional supporter" for North America and Europe at this year's World Cup and an official sponsor of next year's Women's World Cup.

AccessTimeIconMay 3, 2022 at 8:20 a.m. UTC
Updated May 11, 2023 at 4:22 p.m. UTC

FIFA, soccer's global governing body, locked in Algorand as an official blockchain partner before the World Cup competition that starts in November in Qatar.

According to the agreement, Algorand will be a "regional supporter" for North America and Europe at the World Cup and an official sponsor of the Women's World Cup in Australia and New Zealand next year. The agreement comes weeks after crypto exchange became a sponsor of the 2022 World Cup.

Algorand will provide the official blockchain-supported wallet for FIFA in what is a sponsorship and technical partnership deal. FIFA will get assistance from Algorand to "further develop its digital assets strategy," and Algorand will have the opportunity for promotions, advertising and media exposure through FIFA.

The partnership was announced by FIFA President Gianni Infantino and Algorand founder Silvio Micali in Los Angeles.

"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 to our stakeholders and worldwide football fans – a key element of our vision to make football truly global," Infantino said in a statement.

ALGO tokens surge

Algorand's native ALGO tokens surged more than 20% in the past 24 hours, CoinGecko data shows, with the bulk of the move occurring after the FIFA announcement.

Prices rose to as high as $0.73 from Monday’s $0.59, breaking resistance at the $0.60 level. Resistance at the current level exists, price charts show, which coincides with the exhaustion in the current trend after Monday night's run.

ALGO tokens surged 19% in the past 24 hours. (TradingView)
ALGO tokens surged 19% in the past 24 hours. (TradingView)

Futures activity showed a nominal $1.3 million in liquidations in the past 24 hours, suggesting the rally was primarily led by spot ALGO. Some $867,000 in shorts, or bets against a price move upward, were liquidated.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Amitoj Singh

Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.

Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.