Sporting events are renowned for providing businesses with fantastic opportunities to market their products and get in front of a wide and diverse audience from all walks of life. After the Olympics, the World Cup is the second biggest sporting event in the world. The World Cup is a great environment for cryptocurrency companies. Because these companies can increase the level of awareness and acceptance of the general public in the world with their advertisements.
Due to the large amount of financial support associated with digital currencies, the 2022 FIFA World Cup, which is scheduled to be held in Qatar from( November) 20 to December 18, could be one of the most important events of the year in terms of helping the adoption of digital currencies.
Cryptocurrency exchange ( Crypto.com ) was selected as one of the main sponsors of the event earlier this year. Exposure of this exchange to 5 billion people can multiply the acceptance of digital currencies.
Running several commercials during the Super Bowl and buying the naming rights to the multi-purpose arena in downtown Los Angeles formerly known as the Staple Center, Crypto has been one of the most active businesses in sports marketing. The exchange has partnered with payment processor Visa to simplify debit card transactions on the crypto website.
As part of this partnership, Visa will auction five non-fungible tokens (NFTs), each featuring notable World Cup goals from different countries. According to Visa, the auction will run until November 8 and all proceeds will go to charity.
Fans can build their NFTs during the World Cup by participating in four-minute six-on-six matches at the festival. Their movements are captured by an interactive pitch, which then generates unique GIFs that they can customize to look like their favorite national team. In the next generation, followers can choose to have generated GIFs sent to them as NFTs via a crypto website.
Official blockchain sponsor of FIFA
Elgorand, which was selected as FIFA's official blockchain sponsor in May, is another project that will benefit from its presence at the FIFA World Cup. In the original announcement of the partnership, FIFA praised Elgorand, which was "founded by Turing Prize-winning cryptographer Silvio Micali, and is a 'green blockchain technology company.'
FIFA has chosen Algorand for its capacity to provide fast and cheap transactions with little impact on the environment in a world where costs and environmental concerns are on the rise.
Elgorand will help FIFA develop its digital assets strategy in addition to providing an official blockchain-enabled wallet solution as part of the partnership.
"This collaboration with FIFA, the most prestigious and recognized organization in sports, demonstrates the potential that Algorand's blockchain has to change the way we all experience the game," said Silvio Micali about the opportunity this partnership has given Algorand.
Thanks for reading
