FIFA+ NFT Marketplace Goes Live As Algorand (ALGO) Scores 27.5% Weekly Gains

With the 2022 FIFA World Cup fast approaching, FIFA has launched its highly anticipated NFT platform, providing an innovative collectibles experience for soccer fans. The FIFA+ NFT Marketplace is powered by Algorand (ALGO), and the first NFT collection to be featured on the platform is the ‘FIFA+ Genesis Drop’.

100 of the Greatest Moments from Soccer History

FIFA, the organization behind the most popular sport in the world, announced its partnership with Algorand (ALGO) at the beginning of September. In celebration of the upcoming World Cup, the new FIFA+ NFT platform has released the 100 greatest soccer moments in the form of NFTs.

A secondary NFT market is set to be made available later, as reported by FIFA representatives on Twitter. However, the FIFA+ Genesis Drop is already live and is accessible to soccer fans everywhere, with NFT prices starting at just $4.99. NFT enthusiasts must first sign up on the FIFA+ platform, after which they will be able to “start their NFT collection off with a bang and begin an unforgettable journey of owning the greatest moments in football”.

Interestingly, the Algorand (ALGO) cryptocurrency itself is not yet accepted as a payment method. In fact, the only way for soccer fans worldwide to buy NFT collectibles on the FIFA+ Collect platform is via debit card (Mastercard or VISA), or the USD Coin (USDC) stablecoin.

Algorand (ALGO) Scores Deals In Sports & Music

Algorand (ALGO) have been making moves in 2022, scoring partnerships with racing teams, soccer clubs, and NBA franchises. Moreover, the blockchain recently entered the music industry. Algorand (ALGO) had previously acquired Napster, an old school music sharing service that was overshadowed by music streaming. The blockchain also holds the aim of becoming carbon-negative in the near future.

At press time, Algorand (ALGO), the 30th ranked cryptocurrency by total market capitalization, trades at $0.374325, according to CoinGecko. The Altcoin has maintained slight incline of 0.7% over the last 24 hours, but achieved a much brighter 7 day record, notching impressive 27.5% gains against the tide of a ferocious bear market.

On the Flipside

• After signing up, users must wait 14 days before they can buy, sell, and trade NFTs on the FIFA+ Marketplace.
• Some Twitter users have reported bugs on the platform when using a PC browser.

Why You Should Care

Sports NFTs generated over $1.4B in revenue in 2021, and the sports NFT collectibles market is expected to double in size by the end of 2022.

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