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FIFA Partners With Algorand for World Cup, Champions League NFT Platform

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Pavan A Follow

INDIA

Sep, 06 2022

Sep, 06 2022

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FIFA, soccer's global governing body, has announced plans to launch a digital collectibles platform for the 2022 World Cup.?Featuring history-defining moments from soccer, as well as imagery from classic European national teams, the NFT platform will feature iconic moments from the rich history of the game.? 


Romy Gai, FIFA's Chief Business Officer, stated in a press release, “This exciting announcement makes FIFA collectibles available to any football fan, democratizing the ability to own a part of the FIFA World Cup. 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 will partner with blockchain company Algorand to develop the NFT platform. The blockchain firm will be the technical partner and sponsor at the Qatar World Cup. 


Additionally, FIFA+ Collect will be featured on the platform. This digital platform will include a live game stream, news, interactive games, tournament information, and other original content. 


Earlier this year, Algorand acquired Napster, a digital music sharing service, and partnered with LimeWire. LimeWire evolved from a peer-to-peer music-sharing service into an NFT marketplace.? 


The crypto’s presence in Doha isn't limited to Algorand. Crypto.com announced it would sponsor the World Cup exclusively. A $495 million sponsorship deal with UEFA, the European Champions League, was reportedly dropped earlier this week, possibly due to the company reducing its sports partnerships. 


Algorand (ALGO) has struggled since mid-August, recording a 16% deficit. It subsequently recovered with a 5.9% weekly gain, but has still traded poorly at $0.301419. 


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Pavan A

CBW - External Analyst

INDIA

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