FIFA has announced a new sponsorship and technical deal with green blockchain, Algorand, with the company becoming the official blockchain partner of the governing body.

The deal will see Algorand provide FIFA with the official blockchain-supported wallet solution, as well as becoming a regional sponsor in North America and Europe for the 2022 World Cup, and the 2023 Women’s World Cup.

Additionally, the blockchain will assist FIFA with further development of its digital assets strategy, while receiving sponsorship assets including advertising, media exposure and promotional opportunities.

Commenting on the partnership, FIFA president, Gianni Infantino, said: “We are delighted to announce this partnership with Algorand.”

“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.

“I look forward to a long and fruitful partnership with Algorand,” he said.

FIFA chief business officer, Romy Gai, added: “This announcement is an exciting moment for FIFA, as it officially enters into the world of blockchain and the opportunities this presents across various applications.”

“At FIFA, we must constantly strive to identify and explore the most cutting-edge, sustainable and transparent means of increasing revenues to continue to support global football development.

“Algorand is clearly a forward looking, innovative partner that can help us achieve these goals,” he said.

The announcement comes after small business platform, Xero, partnered with women’s football.