Algorand News
Algorand Wins Partnerships with Australia Zoo and FIFA
Securities.io is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Please view our affiliate disclosure. Trading involves risk which may result in the loss of capital.
One of the – and arguably the most significant – advantages of the Algorand network is its status as a carbon-negative chain. Thanks to its standout element of offsetting more carbon emissions than it releases into the atmosphere, Algorand has proved appealing to not only investors but also other brands seeking to enter the blockchain space.
Its sustainability and environmental friendliness, frequently cited as selling factors for the blockchain in addition to meager fees, have once won the Algorand ecosystem two more partnership deals.
Carbon-negative Algorand picked for Australia Zoo NFTs mint
Australia Zoo, which is widely associated with The Irwin Family, has announced that it will be launching an NFT collection, with the tokens set to be minted on the Algorand blockchain. The launch will celebrate the 20th anniversary of the Home of the Crocodile Hunter
This bunch of Australia Zoo NFTs will fall under the ‘Wildlife Warriors’ collection. The NFTs will be unique, randomly generated, utility-driven, and non-deterministic.
Australia Zoo said the release date for the NFTs would be published in the coming weeks, adding that potential buyers would be able to acquire the collectibles in cash via the on-ramp tool MoonPay. This means that users can buy crypto on the platform, which they can then use to buy the NFTs.
Despite the criticisms common with blockchain platforms, Australia Zoo’s Robert Irwin said that Algorand’s green status provides the zoo with a new platform to continue fighting for “the protection of our wildlife and wild places.”
Algorand aims to channel even more rewards to the community
The Algorand Foundation recently revealed an intention to change its mechanism of rewarding the community. Last week, it said that in the coming vote for governance period 3, it shall propose changing the governance mechanism and reward more than just the passive Algo holders, as the state of matters is.
The Foundation aims to introduce extra governance seats and reward active participants in the network. Initially, the rewards would flow to active users in the DeFi sector before those in other scenes, including NFT creators and developers, are included.
Towards reaching the goal, the Foundation has now invited members of the Algorand community to submit their input on what rules would oversee the governance and the planned rewards. With the next governance vote scheduled for June 1 this year, the Algorand Foundation said it would introduce the feedback received as part of the proposals brought to vote at that time. If passed, the evolved governance mechanism would then take effect in governance period 4 – starting Q4 this year.
Algorand bags slot as FIFA’s blockchain partner
The Algorand blockchain has completed an agreement with the international football governing body FIFA to become its official blockchain partner. Qualifying as the first American sponsor of the sports association since 2011, Algorand will likely gain mass-scale exposure and generate fan conversation, particularly in the forthcoming World Cup, whose 2018 edition had 3.5 billion viewers.
Algorand will, as the official blockchain partner, provide an official blockchain-supported wallet solution to FIFA as part of its role of helping the sporting body enhance its engagement with digital assets, consistent with its sustainability goals. Algorand is also set to serve as a “regional supporter” in Europe and North America for the 2022 FIFA World Cup and as an official sponsor of the FIFA Women’s World Cup Australia and New Zealand coming in 2023.
On its part, Algorand will gain promotional opportunities, advertising, and media presence. Notably, the partnership marked Algorand as the first American sponsor of FIFA since 2011; therefore, promotion on the world stage will definitely help it move a step closer to achieving its growth ambitions.
FIFA president Gianni Infantino said the partnership would serve to assist in making the game truly global.
To learn more about Algorand visit our Investing in Algorand guide.
