Recently, football’s global governing body, FIFA, announced that it will launch an NFT platform with football-themed digital collectibles.
The announcement came in time as the 2022 World Cup approaches.
FIFA+ Collect
The FIFA NFT platform will be called FIFA+ Collect and will be launched at the end of this month.
The platform offers affordable, accessible and inclusive NFTs that showcase some of the best moments of this beautiful sport.
Once the World Cup takes place in Qatar at the end of November, moments from the world football tournament will likely be transformed into digital collectibles.
FIFA Commercial Director Romy Gai released a statement stating:
“Just like sports memorabilia and stickers, this is an accessible opportunity for fans around the world to engage with their favorite players, moments, and more on new platforms.”
Blockchain
FIFA+ Collect runs on the Algorand blockchain, a proof-of-stake alternative to Ethereum and Solana.
The Algorand blockchain was developed by MIT professor Silvio Micali.
In May, the Algorand blockchain made FIFA its lead partner in a timely World Cup deal.
The deal covers the Women’s World Cup 2023 and takes it a long way on the FIFA+ Collect platform with momentum.
Blockchain has taken a narrow and more defined approach to partnership agreements, rather than casting a wide net in the hope of reaching an agreement.
Outside of FIFA, sports facilities in the blockchain ecosystem are largely inactive, with limited exposure to transactions involving less physical sports like chess and drone racing.
Algorand
The blockchain platform made headlines earlier this year after acquiring Napster, a digital music sharing service.
It also partnered with LimeWire, one of the first peer-to-peer music sharing services, to launch a music-centric NFT market with songs from Universal Music Group-affiliated artists.
Despite the size of their deal, Algorand will not be alone in Doha.
In early March, Crypto.com announced that it would be the exclusive sponsor of the World Cup.
However, the company could limit its sports partnership program.
Last week, the company reportedly dropped a $495 million sponsorship deal with UEFA, the European Champions League.
More information
Details of the FIFA + Collect collections will be announced as soon as they are released. NFT-like teasers will also be released during the World Cup.
In addition, the NFT platform will also be streamed on FIFA+, the organization’s platform for football news, live matches and original content.
References:
FIFA launches NFT platform on Algorand in run-up to World Cup
FIFA to launch new NFT platform in partnership with Algorand
