FIFA+ Collect: FIFA and Algorand collaborate to create NFT platform

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NFT platform FIFA+ Collect set to launch ahead of the upcoming 2022 World Cup
NFT platform FIFA+ Collect set to launch ahead of the upcoming 2022 World Cup

Image source: Coincu

FIFA, the world governing body for football, recently announced that it will be launching a football-themed digital collectibles NFT platform.

The announcement came just in time for the 2022 World Cup.

FIFA+ collection

The FIFA NFT platform is called FIFA+ Collect and will launch later this month.

The platform offers affordable, accessible, and inclusive NFTs showcasing some of the best moments of this beautiful sport.

Once the World Cup takes place in Qatar in late November, World Cup moments will likely be turned 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.”

The 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 agreement includes the Women’s World Cup 2023 and gives a new impetus to the FIFA+ Collect platform for a long time.

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 idle 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 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 affiliated with Universal Music Group.

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 may be limiting its sports partnership program.

Last week, the company reportedly abandoned 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-style teasers will also be released during the World Cup.

Additionally, the NFT platform is also 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


Opinions expressed by Portland News contributors are their own.

Finny Adams

Hi, my name is Finny. I am a part-time freelance writer and I love art. I pour most of my time petting my cats and explore new recipes online.

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