FIFA Introduces NFT Collection Ahead of 2023 Club World Cup

The international organization that regulates international soccer competitions, the Fédération Internationale de Football Association (FIFA), will introduce its own collection of nonfungible tokens (NFT) prior to the 2023 Club World Cup in Saudi Arabia.

As per the declaration made on December 11, and in partnership with the blockchain company Modex, an inaugural collection of 100 NFTs will make its debut on December 15, offering the opportunity to obtain final tickets for the FIFA World Cup in 2026.

Furthermore, this month will see the release of 900 additional digital collectibles on the Polygon network (MATIC) and OpenSea. These items will feature digital renditions of memorabilia and significant moments from the ongoing tournament.

“The FIFA Club World Cup, which is authorized to commence on December 12 in Jeddah, Saudi Arabia, unites seven of the most illustrious football teams in the world.” Developers wrote, “The champions of all six FIFA confederations are participating.”

The NFTs will be accessible via FIFA+ Collect, the platform bearing the organization’s name. Algorand is the driving force behind the NFT platform, which launched in September 2022. “Digital collectibles increase the ways in which fans can interact with their favorite players, teams, and the game they love, and we’re honored to support FIFA in realizing this goal,” said Francesco Abbate, chief executive officer of Modex.

The FIFA+ Collect platform has facilitated eleven NFT releases since its inception, resulting in the issuance of 909,255 digital collectibles and 16,448 holders. From that point forward, the platform witnessed a combined trading volume of $2.4 million across primary and secondary NFT markets.

Nevertheless, “Mint Volume can be misleading as FIFA+ Collect Info cannot distinguish the packs obtained for free in challenges from the packs purchased with USDC [USD Coin],” FIFA+ Collect Info asserts.