NFTs have become popular because they provide a way to create unique digital assets that can represent ownership of tangible and digital world assets. A house, a piece of land, or a pair of shoes, for instance, may be represented by an NFT, and the tokens could then be kept on the blockchain. According to FXStreet, the world’s governing body of football, FIFA, has embraced digital collectibles for the 2022 World Cup debut.
By the end of September 2022, the NFT-based collection, which will include vintage FIFA video clips, will be available for football fans to buy, sell, and trade according to BusinessNews. Therefore, fans have the chance to take home a souvenir from the World Cup thanks to the NFT collectibles. Algorand blockchain, Qatar 2022’s blockchain partner and wallet provider will be connected to the FIFA World Cup NFT clips as per FXStreet. Fans will then be able to collect and “own” key moments from the sporting event in the form of NFTs.
Romy Gai, FIFA’s Chief business officer told FXStreet,
“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.”Romy Gai via FXStreet
Through the platform FIFA+ Collect, fans may purchase artwork, photos, and memories from the competition. After its premiere in September, the service will be made available for the 2023 Women’s World Cup in Australia and New Zealand as well. Back in May 2022, FIFA locked in Algorand as an official blockchain partner before the World Cup competition that starts in Nobvember in Qatar. According to the agreement, Algorand will be a “regional supporter” for North America and Europe at the World Cup.
Now fans have more opportunities to communicate with and support their favorite teams because of sports NFTs. Those NFTs have drawn a lot of interest from the sports business. Sports NFTs give supporters fresh ways to interact with and support their preferred teams. More useful applications for sports NFTs are emerging as NFTs gain acceptance and maturity, and they are all poised to revolutionize the sector in many ways based on Binance’s report. For example, sports clubs and their athletes can provide supporters with long-term value through the expanding utilities of NFTs, and dedicated fans can show their devotion by owning sports NFTs.