FIFA To Launch NFT Platform On Algorand (ALGO) Ahead Of The World Cup’s Kick-off

Algo scores a partnership hat-trick, but it’s yet to reflect on the market price.

FIFA To Launch NFT Platform on Algorand (ALGO) Before World Cup Kick-off

With the highly anticipated 22nd edition of the FIFA World Cup preparing for kick-off, soccer fans and NFT enthusiasts can expect a treat ahead of the biggest sporting event of the world. The upcoming soccer-themed NFT platform is set to feature all of the greatest moments from the history of the sport, as well as artworks such as team imagery of classic European national teams.

FIFA+ Collect: The Digital Soccer Hall of Fame

The FIFA+ Collect NFT collection will go live on the FIFA+ platform during the second half of September. Powered by Algorand (ALGO), the sports NFT platform will feature reels of the tournament’s most iconic moments from history⁠—but the interactive features of the platform are what really sets it apart from traditional sticker collections.

Sponsored

As stated by FIFA’s Chief Business Officer Romy Gai: “Fandom is changing and football fans around the world engage with the game in new and exciting ways”. Ultimately, owning a piece of soccer history has never been easier, and the FIFA+ Collect NFT platform aims to “democratize the ability to own a part of the FIFA World Cup”.

Algorand (ALGO) on a Hot Streak

So far in 2022, Algorand (ALGO) has scored a range of tantalizing partnerships, starting with music sharing platform LimeWire, and following it up with decentralized music platform VYBE. Moreover, Algorand (ALGO) completed the purchase of trademark music platform Napster.

Supplementing its impressive music industry ventures, Algorand (ALGO) announced the partnership with FIFA on May 5th, 2022. The company is set to be one of two blockchain sponsors in Doha, Qatar this November, alongside Crypto.com. 

Be that as it may, the blockchain’s native coin Algorand (ALGO) has been struggled since mid August, recording a 16% deficit to date. Despite slowly regaining its position with a 5.9% weekly increase, $ALGO is still trading poorly at $0.301419, according to CoinGecko.

On the Flipside

  • Algorand (ALGO) was among the hardest hit by the ruthless bear market, undergoing a 75% downtrend for the year.

Why You Should Care

Sports NFTs are becoming a growing niche, with partnerships between sports and NFT companies expected to bring in more than $2 billion of revenue in 2022.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.