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World Cup 2022: FIFA is preparing to launch its NFT platform

 In view of the Men’s and Women’s Football World Cups, FIFA is presenting its future NFT platform built on the Algorand (ALGO) blockchain. This will allow fans around the world to collect memorabilia and digital art on the theme of these two events.

FIFA presents its non-fungible token (NFT) platform

The International Federation of Association Football (Fifa) presented this Friday its future NFT-platform called FIFA+ Collect.

The latter should see the light of day during the month of September, in anticipation of the two World Cups to come. The first taking place in Qatar in November for the men’s teams and the next, for the women, in the summer of 2023 in Australia and New Zealand.

The objective of this initiative is to create collections of digital memories “on affordable terms“. It could just as well be historical moments of the sport or works of art on the theme of the two competitions.

Romy Gai, FIFA’s director of commercial affairs, draws the parallel between non-fungible tokens and sticker albumswhich have been the standard for many years:

“Now, FIFA collectibles will be available to everyone, further democratizing accessibility to the World Cup. As with memorabilia and sticker pictures, this is a unique opportunity for fans to experience their favorite stars and iconic action on new platforms. »

A platform based on Algorand technology (ALGO)

For carry out this NFT shift, FIFA relies on the highly scalable Algorand (ALGO) blockchain. Thus, this is the logical continuation of the partnership concluded with the Algorand Foundation last May.

For his part, W. Sean Ford, acting general manager of Algorand, expressed his enthusiasm on the results of this agreement:

“Via a decentralized and scalable public blockchain, the FIFA platform is the first tangible result of the recently announced technical partnership […]. FIFA’s commitment to bridge to Web3, facilitated by Algorand, demonstrates its spirit of innovation and its desire to interact directly and transparently with football fans around the world. »

Thanks to the technology of this blockchain, the international body of the round ball promises in particular a fast and low kick platformer. More information should arrive soon and it will be interesting to observe how the application will be built, in order to remove the technical locks to best accommodate fans, who will not necessarily be familiar with our ecosystem.

Note, however, that in a difficult market context, the price of ALGO did not react particularly to the news. As of this writing, it was showing an increase of 0.47% over the last 24 hours.

At the same time, we have seen this week that not all partnerships between crypto companies and the world of football are going so well. Indeed, cryptocurrency exchange has pulled out of a $495 million deal with UEFA.

Source : Fifa