FIFA launches NFT platform on Algorand ahead of World Cup

FIFA launches NFT platform on Algorand ahead of World Cup

With the 2022 World Cup just months away, FIFA, soccer’s global governing body, has announced that it will launch NFT a platform for soccer-themed digital collectibles.

The platform, FIFA+ Collect, is set to launch later this month and will feature “affordable, inclusive and accessible” NFTs depicting significant football moments, art and images, according to FIFA. As the World Cup – due to be held in Qatar at the end of November – unfolds, moments from the global football tournament can also be turned into digital collectibles.

NFTs are a unique blockchain tokens which serve as proof of ownership of digital assets, such as artwork, profile pictures, or video game items. FIFA+ Collect will launch on Algorand blockchaina proof-of-stake Ethereum and Salt flats an alternative developed by MIT professor Silvio Micali. In May, Algorand became FIFA’s official blockchain partner.

“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 CEO Romy Gai said in a statement.

Further details on which collections will be included in the launch of FIFA+ Collect will be announced soon, as well as teasers on which types of NFTs will be introduced during the World Cup. The NFT platform will live on FIFA+, the organization’s platform for live football matches, news, games and original content.

Algorand made headlines earlier this year for downloading the digital music sharing service Napsterand for partnering with LimeWire—once a peer-to-peer music-sharing service recently launched a music-focused NFT marketplace presents works by artists signed to the Universal Music Group label.

Algorand will not be the only crypto presence in Doha this November. In March, Crypto.com announced that it would be a World Cup exclusive crypto exchange sponsor. The company, however, may be scaling back its ambitious sports partnership agenda: earlier this week reportedly walked away from a $495 million UEFA sponsorship dealEuropean Champions League.

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