FIFA Launches NFT Platform on Algorand in Run-Up to World Cup
The platform will debut later this month and will feature memorable soccer moments, art, and imagery.
With the 2022 World Cup just months away, FIFA, soccer’s global governing body, has announced it will launch an 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 that depict notable soccer moments, art, and imagery, according to FIFA. As the World Cup—set to take place in Qatar in late November—unfolds, moments from the marquee global soccer tournament may also be converted into digital collectibles.
NFTs are unique blockchain tokens that act as proof of ownership over digital assets, such as art, profile pictures, or video game items. FIFA+ Collect will run on the Algorand blockchain, a proof-of-stake and 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 favourite players, moments and more on new platforms,” said FIFA’s Chief Business Officer Romy Gai, in a statement.
Further details on what collections will be included in FIFA+ Collect’s launch will be released soon, as well as teasers of what types of NFTs will be rolled out over the course of the World Cup. The NFT platform will live on FIFA+, the organization’s platform for live soccer games, news, games, and original content.
Algorand made headlines earlier this year for acquiring digital music sharing service Napster, and for partnering with LimeWire—which, once a peer-to-peer music sharing service itself, recently launched a music-centric NFT marketplace featuring the works of artists signed on Universal Music Group’s label.
Algorand won’t be the only crypto presence in Doha this November. In March, Crypto.com announced it would be the World Cup’s exclusive crypto exchange sponsor. The company, though, may be curtailing its ambitious sports partnerships agenda: earlier this week, it reportedly ditched a $495 million sponsorship deal with UEFA, the European Champions League.