The next World Cup is getting closer and closer. Fittingly, FIFA has now launched an NFT platform for trading special Non-Fungible Tokens (NFTs). New NFT collections from football and FIFA area are available there. What else does the new platform offer? How does trading work there? And what do you need to know about it?
How does an NFT platform work?
An NFT is a type of token, that is, a token that represents a specific asset. They are unique because they cannot be copied or traded one-to-one and are managed on a blockchain. NFT platforms or marketplaces are used to trade non-fungible tokens. They therefore offer users a platform for independent buying and selling.
Some NFT marketplaces also offer exclusive collections or auctions of the digital artworks. Some of the platforms specialize in a specific target group, such as collectors or growth-oriented buyers. A transaction usually takes place via a smart contract. These contracts serve to ensure that trading proceeds correctly and guarantee users a high level of security.
What FIFA+ Collect offers
FIFA+ Collect is the name of the new NFT platform recently released by the private football association FIFA. This is a marketplace where trading of football related NFTs can take place. The platform offers its own collections, e.g. popular images from the FIFA World Cup and FIFA Women’s World Cup. With the start of the 2022 World Cup in Qatar, special moments from the games will also be mapped as NFTs and offered for trading.
FIFA+ Collect is comparable to the “NBA Top Shots” trading platform. This platform does not present their NFTs in the form of football moments, but in the form of basketball moments. NBA Top Shots has digital trading cards for various NBA players available. And that is exactly what FIFA has now brought to the world of football.
FIFA already revealed the collaboration with Algorand this summer. Algorand is one of the most secure and best performing blockchains and is already used by over 2000 organizations. In addition, the blockchain is CO2 neutral and offers its own cryptocurrency called ALGO. However, this must not be used when purchasing a FIFA NFT. Common payment methods are also possible.
The new platform will delight football fans
The platform is particularly aimed at football and FIFA fans. But die hard NFT collectors will be there too. Because FIFA+ Collect offers officially licensed digital collectibles. And they reflect FIFA’s entire 92-year history. NFTs are also offered in the form of players from the games FIFA Ultimate Team, Magic: The Gathering and Fantasy Sport. This makes it possible to master challenges and compete against NFT players from other owners.
There is a chance to earn money in the form of crypto or more NFTs. The Metaverse ecosystem BIB Meta supports FIFA in creating the NFT collection. The non-fungible tokens can then be collected or traded at FIFA+ Collect. You can also connect with players through direct communication channels.
How does trading work?
First of all, you need to register on the platform. All you need is a device with internet access. It can be used in English, Spanish or French. FIFA+ Collect is beginner-friendly. No personal identification is required for registration and there is no cost. Simply create a username and password. Only one pack is currently available, which contains three random highlights from previous World Cups. The so-called Genesis package costs $4.99. You can pay with a credit or debit card or with stablecoin USDC via crypto transfer. Rare specimens can be sold on the NFT marketplace for up to $10,000. This means that owners of the Genesis packs can resell the cards they contain on the platform and buy others.
The new platform FIFA+ Collect gives football fans a great opportunity to take a look into the world of blockchain. But it also opens up an opportunity for established NFT lovers to expand their collection with new pieces. The platform is still in its infancy, but with around three billion football fans in the world, it can quickly find many followers. The upcoming World Cup will in all probability be the starting signal for this. Finally, FIFA+ Collect paves the way for a new target group into the crypto world. The new platform has the potential to become one of the most popular in the crypto world.
Jacqueline Lehmann is Manager for Crypto Assets at Green Capital und Beteiligungen AG. She has many years of experience in crypto and fintech and was able to acquire extensive know-how in these areas. https://www.greencapital-b.ch/digital-assets/
Image source @thani9412 Thanihan Manickham
NFT platform released for soccer World Cup
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