Image source: Coincu
Recently, the global governing body of football, 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.
The FIFA NFT platform will take the name of FIFA+ Collect and will be launched at the end of this month.
The platform features 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 saying:
“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.”
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 includes the 2023 Women’s World Cup, bringing a long track with momentum to the FIFA+ Collect platform.
Blockchain has taken a narrow and more defined approach to partnership agreements rather than casting a wide net in the hope of a deal.
Outside of FIFA, sports facilities in the blockchain ecosystem are largely idle, with limited exposure to transactions involving less physical sports like chess and drone racing.
The blockchain platform made headlines earlier this year after acquiring Napster, a digital music sharing service.
It has also partnered with LimeWire, one of the first peer-to-peer music sharing services, to launch a music-centric NFT marketplace featuring songs from artists signed to the Universal Music Group label.
Despite the size of their deal, Algorand will not be alone in Doha.
In early March, Crypto.com announced that it would be the crypto exchange’s exclusive sponsor of the World Cup.
However, the company could curtail its sports partnership program.
Last week, the company reportedly threw away a $495 million sponsorship deal with UEFA, the European Champions League.
Details of the FIFA + Collect collections will be released as soon as they launch. Teasers of NFT types will also be launched during the World Cup.
In addition, the NFT platform will also be broadcast on FIFA +, the organization’s platform for football news, live matches, and original content.
FIFA launches NFT platform on Algorand in run-up to World Cup
FIFA to launch new NFT platform in partnership with Algorand