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FIFA Launches NFT Platform on Algorand in Run-Up to World Cup

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by John K. Kumi · 2 min read
FIFA Launches NFT Platform on Algorand in Run-Up to World Cup
Photo: Depositphotos

According to FIFA’s Chief Business Officer Romy Gai, the idea is to create opportunities for fans around the world to engage with their favorite players.

The world’s biggest football competition, the world cup, is just a couple of months away. As part of the plans to create not only exciting moments on the pitch but to give memorable moments for fans to hold onto, FIFA, the football governing body, has decided to launch its NFT platform. According to reports, the platform FIFA+ Collect would be launched on the Algorand blockchain, a Proof of Stake network and an alternative to Ethereum and Solana.

It is important to note that Algorand was unveiled as the official blockchain partner of FIFA in May.

It is reported that NFTs featured on the platform would not only be “affordable, inclusive, and accessible”, but would represent important and memorable moments, arts and imagery during the upcoming edition in Qatar.

According to FIFA’s Chief Business Officer Romy Gai, the idea is to create opportunities for fans around the world to engage with their favorite players.

“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,” he said.

The platform is expected to go live later this month. In addition, further details like teasers depicting the type of NFTs to be launched throughout the competition as well as the collection to be included in the launch would soon be released.

“The commitment FIFA has made to bridge to Web3 enabled by Algorand is a testament to their innovative spirit and desire to directly and seamlessly engage with football fans around the world,” said the acting CEO of Algorand, W. Sean Ford.

The positive feeling given by this partnership points toward how crypto firms are taking center stage in world sporting events. Among the industry firms present in Qatar is Crypto.com. In March, it announced that it will be an exclusive crypto exchange sponsor in the world cup. The firm, however, reportedly rejected a $495 million sponsorship deal with UEFA (Champions League).

Algorand has also announced the acquisition of digital music sharing service Napster in addition to its partnership deal with LimeWire.

Other crypto firms delving into football include Whalefin, the shirt sleeve sponsor for Chelsea football club. Also, the Manchester United training kit is sponsored by Tezos.

Altcoin News, Blockchain News, Cryptocurrency news, News
John K. Kumi
Author John K. Kumi

Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.

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