FIFA will launch its own NFT platform on the Algorand blockchain

Fans will have a choice of non-fungible tokens related to the soccer theme, including the best moments of matches

03.09.2022 - 08:15

225

1 min

What’s new? Ahead of the 2022 FIFA World Cup, the Sports Association FIFA has announced the opening of its own NFT marketplace. According to Decrypt, the platform, FIFA+Collect, will launch in late September. It will sell “affordable, inclusive, and accessible” NFTs that depict famous soccer moments and other digital artwork related to the sport. FIFA will gradually announce the release of new collections. The marketplace itself will run on the Algorand blockchain, back in May the network became the official partner of the football organization.

Decrypt’s material

What else is known about the marketplace? During the championship itself, which is due to take place in Qatar at the end of November, some important match moments will be converted into digital collectibles.

What is known about Algorand? It is an open-source blockchain platform focused on smart contracts. The blockchain runs on the Pure Proof-of-Stake protocol. The founder of the project is Professor Silvio Micali. Algorand’s first public network was launched on April 16, 2019.

Algorand is not the only sponsor of the 2022 World Cup. In March, crypto exchange Crypto.com and FIFA signed a sponsorship agreement for the upcoming championship. Under the terms of the agreement, the exchange’s ads will appear on banners inside stadiums as well as outside football pitches.

Author: