FIFA, soccer’s global governing body, is launching a new NFT collectibles platform, with the highly anticipated World Cup just around the corner. Continuing the existing partnership between the two parties, the new platform will be launched on Algorand.
Let’s take a look at what we got to know from the initial announcements released this week.
FIFA+ Collect: The organization’s first real foray into NFTs
The stage name will be ‘FIFA+ Collect’ and it will be seen taking a Top Shot-esque approach, with a slight twist. Top Shot has, of course, used IPs from the NBA, NFL and UFC to take in-game moments and mold them as NFTs. FIFA will also take advantage of the big moments in the game, and combine them with “art and imagination,” according to the press release. According to the report, the platform is expected to launch later in September, and is focused on being “affordable, inclusive and accessible to all football fans”. In a statement referenced in the press release, FIFA’s Chief Business Officer Romi Guy said:“This exciting announcement makes FIFA collectibles available to any football fan, democratizing the ability to own a part of the FIFA World Cup. Like sports memorabilia and stickers, it will bring new features to fans around the world. The platform is an accessible opportunity to connect with your favorite players, moments and more.”
Algorand (ALGO) is the partner blockchain for soccer's biggest and most dominant governing body, FIFA. The two are releasing an upcoming NFT platform later this month. | Source: ALGO-USD on TradingView.com
his biggest game yet
In May, Algorand secured FIFA one of the biggest partners of all time in a deal on time with the World Cup due later this year. The deal also includes the Women’s World Cup, which takes place next year and provides a long runway of momentum for the FIFA+ Collect platform. Blockchain has clearly taken a narrower and more defined approach to partnership deals, as is expected to cast a wider net and some stick, as it has been an otherwise relatively quiet 2022 for new partnerships – at least in the game. Outside of FIFA, it has been relatively quiet for sports assets in the blockchain ecosystem, with limited exposure to deals in non-traditional sports such as chess and drone racing. With enough traction, the new FIFA+ Collect platform could easily become a flagship NFT product – but it will still face heavy competition from established players in the sports and entertainment space.Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.