FIFA

FIFA, the global governing body for football, has forayed into the world of digital collectibles by launching its own platform for NFT, called FIFA+ Collect on the Algorand blockchain network. The NFT platform of FIFA was hailed as one of the major events building up to the FIFA World Cup Qatar 2022.

Digital items related to the best footballing moments from the FIFA’s men and women’s World Cups will be available through FIFA+ Collect. FIFA+ Collect is fashioned as an “affordable, inclusive and accessible” platform, catering to all football fans who will be able to own unique digital collectibles from the greatest game moments to the most iconic FIFA World Cup and FIFA Women’s World Cup art and imagery.

“Fandom is changing and football fans from around the world engage with the game in new and exciting ways”, Romy Gai, chief business officer of FIFA said in a statement. “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”.

FIFA+ Collect will unveil a wide range of initial collections along with details of upcoming and limited-edition collectibles. Fans and the public can access FIFA+ Collect on FIFA+, which is a digital platform for live football, news, games and social networking.

According to Gai, the announcement democratizes the possibility to own a part of the FIFA World Cup by making FIFA collectibles available to any football fan. The English, Spanish and French will be the first three languages supported by FIFA+ Collect, with support for more languages coming soon.

The culture around sports collectibles and fandom is not new. While the ownership was hitherto unorganized and exclusive, NFT changes that paradigm and the NFT acts as a proof of ownership for digital assets like media, art, video games items and much more.

FIFA+ Collect is expected to resemble Top Shot, the official NFT marketplace where basketball fans can buy, sell and exchange “Moments” or NFT video clips. The National Basketball Association and Women’s National Basketball Association provided these legendary game snippets.

However, for FIFA+ Collect, it will also include artwork and graphics, in addition to the most memorable game moments from the FIFA World Cup and FIFA Women’s World Cup. The “exclusive and limited-edition” collection is expected to significantly increase fan involvement and excitement, according to officials.

As mentioned in the beginning, the FIFA+ Collect will reside on the Algorand blockchain network. Algorand is a blockchain that is carbon neutral and was built with a focus on the environment from the start. Besides, it offers speedy processing time of 1,000 transactions per second and cheap transaction costs. These were some of the reasons that influenced FIFA to partner with Algorand.

FIFA+ Collect is the first product launched under FIFA’s partnership with Algorand that was announced in May. Algorand has also been listed as an Official Sponsor of the FIFA Women’s World Cup Australia and New Zealand 2023 and a Regional Supporter (North America and Europe) for the FIFA World Cup Qatar 2022.