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Partnership with Fifa ahead of Qatar World Cup
New CMO joins Algorand team
By Capital.com News
Edited by Charlie Mellor
11:34, 26 September 2022
The price of the Algorand blockchain’s native cryptocurrency ALGO has witnessed a surge in what is believed to be the result of a recent partnership with FIFA and a new chief marketing officer (CMO) hire.
Algorand is a proof-of-stake (PoS) Layer 1 blockchain and has seen a price surge over the past week. As of 26 September 2022, ALGO was changing hands at around $0.36, before breaking its long-term resistance price and has surged by more than 30% in the last seven days.
However, the price of ALGO was trading down earlier today around 7% over the past 24 hours.
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ALGO’s price increase may be linked to the blockchain’s recent confirmation of its official partnership with FIFA to launch World Cup non-fungible tokens (NFTs) ahead of the upcoming Qatar World Cup later this year.
Algorand confirmed the partnership via Twitter, stating that fans around the world “will now have the opportunity to affordably own the greatest moments in football.”
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FIFA also confirmed the partnership earlier this month in tandem with its FIFA+ Collect launch, which will see the firm release a series of limited edition digital collectibles for fans around the world ahead of the FIFA World Cup.
NOW LIVE: @FIFAcom makes digital history with the launch of @FIFAPlusCollect powered by #Algorand! Fans around the world will now have the opportunity to affordably own the greatest moments in football ???? https://t.co/2Pk9NdBGB5 pic.twitter.com/uN5k2hfBeu
W. Sean Ford, interim CEO of Algorand, said: “FIFA’s platform – via a truly decentralised and scalable public blockchain – is the first tangible representation of the technical partnership recently announced between FIFA and Algorand.
“The commitment FIFA has made to bridge to Web3 enabled by Algorand, is a testament to its innovative spirit and desire to directly and seamlessly engage with football fans around the world.”
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In addition to the hype around FIFA’s partnership to launch exclusive NFTs for fans, Algorand also confirmed the appointment of ex-Visa and Fidelty executive Michele Quintaglie as its chief marketing officer, effective 19 September.
Quintaglie boasts experience from a series of top firms, with her role at Algorand set to help the company attract key partnerships and sponsorships. Quintaglie said:
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