FIFA launches digital World Cup project on Algorand

FIFA, the world football federation, will release a digital collection on Algorand ahead of the November World Cup.

With just a few months to go until the 2022 World Cup, this morning (September 3) FIFA announced that it is about to launch an NFT platform for digital football collections.

The FIFA+ Collection, scheduled to launch later this month on the Algorand blockchain, brings together artworks created from memorable moments in World Cup and Women's World Cup history.

FIFA Sales Director Romy Gai said:

“With this exciting announcement, FIFA collections will be available to any football fan and democratize the possibility of owning one. partial ownership of the FIFA World Cup. Just like any other sports memorabilia or sticker set, this is an opportunity for global fans to connect deeply with their favorite players.”

Back when Algorand announced the sponsorship agreement with FIFA, ALGO had a sudden growth phase. In the framework of the cooperation, in addition to being a sponsor for the 2022 World Cup in Qatar, Algorand will also support FIFA to launch a digital wallet and promote each other's global presence in the field.

Algorand isn't the only representative of the crypto space in Doha this November. Crypto.com – one of the biggest players in advertising – has been “one step ahead”, confirming as the exclusive crypto exchange sponsor of this year’s World Cup on March 23rd. . However, earlier this week, the exchange withdrew from a five-year sponsorship contract worth 100.6 million USD for the UEFA Champions League at the last minute.

In general, Algorand has been achieving outstanding development since the fourth quarter of 2021. In addition to setting up a DeFi fund of 300 million USD on the ecosystem; Deploying a smart contract development virtual machine, this blockchain also received large funding from Borderless Capital ($500 million), SkyBridge ($100 million) and Hivemind Capital Partners ($1.5 billion).

In terms of reception, the Marshall Islands chose to build a national digital currency on Algorand; The city of Miami also decides to monitor air quality on this blockchain or a nod of support from El Salvador.

These remarkable achievements cannot save Algorand in the current market context. The project CEO last month decided to step down, but he only left the company, not the Algorand blockchain.

Crypto Fox News summary

Sep 03, 2022