FIFA Announces New NFT Platform with Algorand Months Before 2022 World Cup

FIFA, the international governing body of football, is launching its own NFT platform heavily focused on football-related collections. The announcement comes just months before the beginning of the 2022 World Cup in Qatar. FIFA+ Collect will come later this month featuring tokens that depict historic football moments, art, and imagery. The governing body affirmed that these NFTs will be “affordable, inclusive, and accessible” for fans and enthusiasts.

FIFA may also convert significant occasions, such as match highlights, that occur during the World Cup into digital collectibles down the line. Its platform runs on the Algorand blockchain, a proof-of-stake alternative to more prominent blockchains Ethereum and Solana. FIFA unveiled its partnership with Algorand earlier in May. Algorand will also assist FIFA in deepening its digital assets strategy.

For the 2022 World Cup, Algorand will serve as a Regional Supporter in North America and Europe. It will then stand as an Official Sponsor at the FIFA Women’s World Cup Australia and New Zealand 2023. The governing body remains reserved on the details of the collections to be included on its platform. However, users who purchase from the NFTs on FIFA+ Collect may be given access to matches and physical merchandise, among other benefits.

“Fandom is changing and soccer fans around the world are engaging with the game in new and exciting ways,” explained FIFA’s Chief Business Officer Romy Gai. “This exciting announcement makes FIFA collectibles available to all soccer fans, democratizing the opportunity to own a piece of the FIFA World Cup. 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.”

Algorand drew a lot of attention earlier this year after it acquired Napster, an audio streaming service provider. The blockchain firm also partnered with LimeWire, also an audio sharing service, turning it into a music-centric NFT platform. Aside from Algorand, Crypto.com will also be present at the World Cup as its exclusive crypto exchange sponsor.

“FIFA’s platform – through a truly decentralized and scalable public blockchain – is the first tangible representation of the recently announced technical partnership between FIFA and Algorand,” elaborated Algorand’s interim CEO Sean Ford. “FIFA’s commitment to the bridge to Web3 enabled by Algorand is a testament to its innovative spirit and its desire to seamlessly and directly engage soccer fans around the world.”

Sources: Decrypt, The Cryptonomist