With the 2022 World Cup coming up in just a few months, soccer’s world governing body, FIFA, has announced that it will start an NFT platform for digital collectibles related to soccer.
The platform, called FIFA+ Collect, will launch later this month. According to FIFA, it will have NFTs that are “affordable, inclusive, and accessible” and that show famous soccer moments, art, and images. As the World Cup, which will be held in Qatar in late November, goes on, moments from the biggest soccer tournament in the world could also be turned into digital collectibles.
NFTs are unique blockchain tokens that prove ownership of digital assets like art, profile pictures, or video game items. FIFA+ Collect will run on the Algorand blockchain, which was made by MIT professor Silvio Micali. It is a proof-of-stake alternative to Ethereum and Solana. In May, Algorand became a blockchain partner with FIFA.
In a statement, FIFA’s Chief Business Officer Romy Gai said, “Like sports memorabilia and stickers, this is an easy way for fans all over the world to connect with their favorite players, moments, and more on new platforms.”
Soon, we’ll learn more about what collections will be part of FIFA+ Collect’s launch. We’ll also get hints about what kinds of NFTs will be given out during the World Cup. The NFT platform will be available on FIFA+, the organization’s platform for live soccer games, news, games, and original content.
Algorand made headlines earlier this year when it bought the digital music sharing service Napster and teamed up with LimeWire. LimeWire, which used to be a peer-to-peer music sharing service, just launched a music-focused NFT marketplace with the works of artists signed to Universal Music Group’s label.
Algorand won’t be the only crypto presence in Doha this November. In March, Crypto.com said it would be the only crypto exchange to sponsor the World Cup. The company may be scaling back its ambitious plans for sports partnerships, though. Earlier this week, it was said to have dropped a $495 million sponsorship deal with the European Champions League.