FIFA supports NFTs for the 2022 World Cup

FIFA, the regulatory body of football, has selected the World Cup 2022 in Qatar to release an NFT compilation of iconic videos from the game’s history.

According to FIFA, FIFA+ Collect will be available later in the month. It will enable football supporters to acquire and exchange historical moments showcasing the most significant celebrations, saves, goals, and much more. There will be clips from both Women’s and Men’s World Cup history.

As a result of the agreement struck last May to become a Qatar 2022 cryptocurrency partner and account supplier, the NFT videos from FIFA World Cup will be linked to the Algorand public ledger.

FIFA, football’s worldwide governing body, has named Algorand their official ledger partner ahead of the next World Cup, which begins next November in Qatar.

Algorand will serve as a “regional sponsor” for Europe and North America at this World Cup and an official financial backer of the Women’s World Cup in New Zealand and Australia for next year, based on the contract. The arrangement comes just weeks since Crypto.com also became a supporter of the World Cup.

Algorand would give FIFA a formal blockchain-supported account in an endorsement deal and technical collaboration agreement. FIFA will receive help from Algorand to develop its virtual currency strategic plan, and Algorand would then benefit from special offers, marketing, and press attention through FIFA.

Not the first in sports

Algorand made news this year when it acquired digital music file sharer Napster and partnered with LimeWire, which was once mentoring music sharing provider, and recently opened a music-centric NFT platform featuring the projects of Universal Music Group’s performers.

Classic sporting moments immortalized as digital content aided in the mainstreaming of NFTs, most noticeably in the shape of NBA Top Shot, a sports collectibles framework developed by Dapper Labs, the founders of CryptoKitties, the very first NFT selection to gain momentum on Ethereum’s platform.

FIFA’s chief product official, Romy Gai, stated in a declaration that the fan community is shifting and that soccer fans worldwide are engaging with the match in fresh and innovative ways. This exciting announcement democratizes the capacity to purchase a piece of the FIFA World Cup for any fan of football.