Just like we have seen with several other niches and institutions, NFTs have found another use case.
It turns out that the world's most popular sport is now embracing the world of web3, via NFT.
FIFA, the international overseer of football, otherwise known as soccer, has announced that it will launch a series of nonfungible tokens (NFT) for the fans of the 2023 Club World Cup, which is taking place in Saudi Arabia from Dec. 12 to Dec. 22.
The return of NFTs in the final quarter of 2023 is no secret.
This quarter, Bitcoin has suddenly received life, pulling several altcoins up with it. And with this general rise in crypto prices, NFT are starting to become popular again.
This popularity has become even more widespread than ever, considering the launch of Bitcoin ordinals in January, and the explosion of "bitcoin inscriptions" in the later parts of the year.
Now, NFT trading volumes sit at $321 million at the time of writing, compared to a mere $56 million in mid-October.
It is indeed turning out to be an exciting time for NFT.
According to a recent announcement, FIFA has just partnered with Modex, a blockchain company that specializes in NFT solutions, to create and distribute its own NFTs on its dedicated platform, FIFA+ Collect.
According to this announcement, this FIFA+ Collect platform will run on the Algorand blockchain, due to its scalability and cheap fees.
According to the announcement tweet from FIFA, the NFTs will show several aspects and snapshots of the club World Cup, in which the final champions of the the six continental confederations, as well as the host nation's league winner, get to compete once again.
This upcoming tournament is considered one of the most prestigious events in the world of sports because it showcases the best teams and players from different regions and cultures.
In detail, the first batch of 100 FIFA NFTs will be launched on 15 December, only a few days from now.
These NFTs will also feature a special opportunity to win tickets to the FIFA World Cup 2026 final, which will be held in the United States, Canada, and Mexico.
According to the allocations, 10 random NFT buyers will be gifted these tickets, which will also feature unique designs and animations.
The second batch of 900 FIFA NFTs, on the other hand, will be released on 18 December and will feature snapshots of iconic moments from the Club World Cup like goals, celebrations, trophies, jerseys, and more.
These NFTs will be minted on Polygon, and will all be listed on OpenSea.
As it is with most other NFT collections, these FIFA NFTs will have different levels of rarity and value, depending on their supply and demand.
They will also feature different benefits for the people who mint or buy them, like access to exclusive content, events, and experiences, as well as the rights to list and sell them on various platforms.
The platform has already seen 11 NFT drops since its launch in September 2022, with over 900,000 NFTs minted and over 16,000 holders.
However, according to data from FIFA Plus Collect displayed above, the platform has only recorded $2.4 million in trading volume across primary and secondary markets.
So far, only about 11.57% of the NFT packs have been minted, out of a total of 2,651,365 packs.
The most expensive of these NFT packs sold so far, is the $4,000 "Argentina #6" NFT, featuring the final goal from Lionel Messi in the 88th minute, during the Argentina versus Serbia match in 2008.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.