Collect FIFA moments in time with NFT launch at 2022 Qatar World Cup

Soccer’s world governing body FIFA announced the launch of an NFT-based collection at the 2022 Qatar World Cup.
FIFA World Cup NFT clips will be connected to the Algorand blockchain, the partner and wallet provider for the event.
The monthly NFT volume has declined 68% from May to August 2022, as the crypto market was hit by a bloodbath.

Ekta Mourya FXStreet

The FIFA World Cup NFT clips will be launched at the Qatar 2022 event. Football fans have an opportunity to own a piece of the trophy and moments in time through the NFT collection.

Also read: How Coinbase users made 100x on crypto by exploiting a bug

FIFA embraces NFTs tied to moments in time for Qatar World Cup 2022

Soccer’s governing body FIFA has embraced digital collectibles for the 2022 Qatar World Cup launch. The NFT-based collection will comprise classic clips from the history of FIFA. FIFA+ Collect will launch by the end of September 2022 and soccer fans will be able to own and trade “moments in time.” The NFT collectibles are an opportunity for fans to own a piece of the World Cup.

Algorand blockchain, Qatar 2022’s blockchain partner and wallet provider will be connected to the FIFA World Cup NFT clips. Fans will be able to collect and “own” key moments from the sporting event in the form of NFTs. FIFA+ Collect is a platform that offers a service through which fans can own art, imagery and moments throughout the tournament.

FIFA+ Collect service will be offered for the 2023 Women’s World Cup in Australia and New Zealand as well, post its launch in September.

Romy Gai, FIFA Chief business officer was quoted as saying,

Fandom is changing and football fans around the world engage with the game in new and exciting ways. This exciting announcement makes FIFA collectibles available to any football fan, democratizing the ability to own a part of the FIFA World Cup.

Similar to sports memorabilia, NFTs open up an accessible opportunity for football fans around the world to engage with the game and their favorite players. FIFA+ Collect will be available across all web and mobile devices for fans to collect digital sports memorabilia.

NFT trade volume continued decline

Nekoz, a pseudonymous crypto analyst, observed a 68% decline in monthly NFT trade volume since May 2022. The decline in NFT volume is attributed to high gas costs and the bloodbath that hit the crypto market.

The decline in NFT trade volume could see a reversal with higher adoption from football fans worldwide.

Monthly NFT volume

Author

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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