FIFA NFT platform on Algorand

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In preparation for the World Cup, FIFA unveils the NFT Platform on Algorand

FIFA NFT platform on Algorand
FIFA NFT platform on Algorand / Image Credit: CRYPKYP
Source: Decrypt
1662198845 03 Sep / 09:54

FIFA, the world's governing body of soccer, has announced it will introduce an NFT platform for digital collectibles with soccer themes in the months leading up to the 2022 World Cup.

FIFA+ Collect, the portal, will feature "cheap, inclusive, and accessible" NFTs that incorporate favorite soccer moments, artwork, and photography when it launches later this month. Moments from the prestigious international soccer tournament may also be made into digital treasures as it unfolds in Qatar in late November.

The ownership of digital goods like artwork, profile images, and video game items can be proven with the help of NFTs, which are special blockchain tokens. The Algorand blockchain, created by MIT scientist Silvio Micali as a proof-of-stake Ethereum and Solana substitute, will power FIFA+ Collect. FIFA officially selected Algorand as its blockchain partner in May.

In a statement, FIFA’s Chief Business Officer Romy Gai said, “Like sports collectibles and stickers, this offers an accessible chance for fans worldwide to engage with their favorite players, moments, and more on new platforms.”

Soon, more information about the collections that will be a part of the debut of FIFA+ Collect will be made available, along with hints about the kinds of NFTs that will be published throughout the World Cup. FIFA+, the organization’s portal for live soccer matches, news, games, and original content, will host the NFT platform.

Algorand gained attention earlier this year when it bought the digital music sharing service Napster, teamed up with LimeWire, which was once its peer-to-peer music service, and recently debuted a music-focused NFT marketplace showcasing the works of artists signed to Universal Music Group’s label.

This November in Doha, there will be more cryptocurrencies besides Algorand. announced in March that it would be the sole cryptocurrency exchange sponsor of the World Cup. The business, however, may be scaling back its ambitious plan for sports collaborations after reportedly canceling a $495 million sponsorship agreement with UEFA, the European Champions League, earlier this week.

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