FIFA Will Launch NFT Collection Ahead Of Club World Cup 2023

FIFA will launch its own collection of nonfungible tokens (NFT) (PHOTO: x @FIFAPlusCollect)

JAKARTA - The FEudration Internationale de Football Association (FIFA), the agency that regulates international football competitions, will launch its own collection of nonfungible tokens (NFT) ahead of the 2023 Club World Cup in Saudi Arabia in collaboration with blockchain company Modex.

According to an announcement on December 11, the first collection of 100 items of NFT will premiere on December 15 and offer the opportunity to get tickets to the 2026 FIFA World Cup finals. In addition, another 900 digital collectibles will be published on the Polygon and OpenSea networks this month, including memorable moments from tournaments and digital versions of memorabilia.

"The FIFA Club World Cup which will start in Jeddah, Saudi Arabia on December 12, will gather seven of the world's best football teams. The sixth winner of the FIFA confederation is all participating," wrote FIFA. NFT will be available on the FIFA platform called FIFA+ Collect. The NFT platform was launched in September 2022 and supported by Algorand.

"Digital collectivity enhances the way fans interact with their favorite players, teams and football games, and we are proud to support FIFA in achieving this goal," commented Francesco Abbate, CEO of Modex.

Since the start, the FIFA+ Collect platform has facilitated 11 NFT declines, with 909,255 digital collectibles generated and 16,448 holders. The platform has seen trading volumes of US$2.4 million (Rp37.5 billion) in primary and secondary NFT markets.

However, "Mint Volume can be misleading because FIFA+ Collect Info cannot distinguish free packets in challenges from packages purchased with USDC," claims FIFA+ Collect Info.