FIFA, the global soccer organization, is launching a new set of NFT collectibles ahead of the FIFA Club World Cup Saudi Arabia 2023. The collectibles will be released on two different blockchain networks: Algorand and Polygon. This is the first time that FIFA has released NFTs on Polygon.
The collectibles platform, FIFA+ Collect, launched in 2022 with NFTs exclusively minted on the Algorand blockchain. FIFA has clarified that it will continue to launch NFTs on Algorand via its own platform while also expanding to Polygon via drops through the OpenSea marketplace.
NFT Drops
FIFA+ Collect will launch 1,000 total NFTs around the FIFA Club World Cup. The first 100 NFTs will be minted on Algorand and released on December 15. These will include the “rarest collectibles” in the drop that “offer the chance to secure” tickets for the 2026 FIFA World Cup Final.
The remaining 900 NFTs will be dropped on the OpenSea marketplace on December 19. Further FIFA NFT drops will also take place on Polygon at OpenSea.
Why Polygon?
Polygon is a layer-2 scaling solution for Ethereum that offers faster and cheaper transactions. This makes it a good choice for FIFA’s NFTs, which are expected to be in high demand.
A Polygon Labs representative originally told Decrypt that the “project has now moved to Polygon,” but a FIFA representative clarified that the platform is “expanding” to Polygon, but “not shifting” away from Algorand. This suggests that FIFA is committed to using multiple blockchain networks for its NFTs.
FAQ
What is an NFT?
An NFT is a non-fungible token, which is a unique digital asset that cannot be replaced by another. NFTs are often used to represent ownership of digital items, such as art, music, or videos.
What is a blockchain?
A blockchain is a distributed ledger that records transactions across a network of computers. Blockchains are used to create secure and transparent records of transactions.
What is Polygon?
Polygon is a layer-2 scaling solution for Ethereum that offers faster and cheaper transactions. Polygon is used to create and manage NFTs.
Conclusion
FIFA’s launch of NFTs on Polygon is a significant development in the world of digital collectibles. It shows that FIFA is committed to using blockchain technology to create new and innovative ways for fans to engage with the sport.
Credit: BITboosters