FIFA, the world football governing body, is releasing a new NFT collectibles platform with the much-anticipated World Cup just around the corner. The new platform will be released on Algorand, and will continue the existing collaboration between the two parties.
Let’s take a look at what we know from the first announcements which have been released in the current week.
FIFA+ Collect: The organization’s initial Real Foray into NFTs
The platform will be named “FIFA+ Collect” and it seems to take a similar approach to Top Photos with a slight twist. Actually, Top shot has used IP from the NBA, NFL, and UFC to capture in-game moments and mint them as NFTs. According to the press release, FIFA will also apparently use big in-game moments, and pair them alongside “art and imagery.” The platform is expected to release in late September, and concentrated on being “affordable, inclusive and accessible to all football fans,” as mentioned in the report.
In a statement cited in the press release, Romy Gai, FIFA’s chief commercial officer, said:
“This exciting announcement makes FIFA collectibles accessible to every football fan, and democratizes the ability to own a part of the FIFA World Cup. Just as sports memorabilia and stickers, this is an available chance for fans all over the world to communicate with their favorite players, moments and more on new platforms.”
Their biggest sports play yet
In May, Algorand secured FIFA as one of its most important partners to date in a deal in time for the World Cup later this year. Besides, the deal involves the Women’s World Cup, that occurs next year and gives a long-term runway of momentum for the FIFA+ Collec platform. The Blockchain has obviously taken a more narrow and defined approach to collaboration contracts, as opposed to creating a wider network and hoping for longevity, as 2022 has been relatively quiet for new cooperations – at least in sports.
Outside of FIFA, it has been relatively quiet for sports properties in the blockchain’s ecosystem, with limited exposure to transactions in non-traditional sports like chess and drone racing. With enough traction, the new FIFA+ Collect platform could simply be a flagship NFT product – but it will still face massive competition from established players in the sports and entertainment space.
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