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FIFA Collaborates with Algorand to Launch the NFT Platform

FIFA, the international soccer federation, is introducing a new NFT collectibles platform for the 2018 World Cup.As part of their ongoing collaboration, the new platform will be introduced on Algorand.

It’s Official: FIFA Is Making Its First Serious Foray Into NFTs With “FIFA+ Collect”

The platform will be called “FIFA+ Collect,” and it will resemble Top Shot with a few key differences. Top Shot has used intellectual property from the NBA, the NFL, and the UFC to capture in-game events and coin them as NFTs. According to the press release, FIFA will also use significant in-game events in conjunction with art and images. According to the source, the platform will launch by the end of September with the goal of making football cheap, inclusive, and accessible to all football fans.

One of the biggest collaborations

With the World Cup occurring later this year, Algorand struck a partnership with FIFA in May, making it one of its major partners to date. The Women’s World Cup, which will be held next year, will also be a part of the agreement and provide a significant boost to the FIFA+ Collect platform. Aside from the sports industry, 2022 has been a rather quiet year for new collaborations, suggesting that the blockchain has chosen a focused and more specified approach to partnership negotiations rather than throwing a broad net and hoping something catches.

With the exception of FIFA, the blockchain’s ecosystem hasn’t seen many partnerships involving sports assets. This includes classic sports like chess and less common ones like drone racing. The new FIFA+ Collect NFT platform has the potential to become a flagship NFT product with enough momentum, but it faces tough competition from well-established companies in the same market.