FIFA taps Avalanche to launch dedicated blockchain for NFT platform
The Federation Internationale de Football Association (FIFA) has selected Avalanche to power its dedicated blockchain network for non-fungible tokens and digital fan engagement, the organization announced on May 22.FIFA’...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
The Federation Internationale de Football Association (FIFA) has selected Avalanche to power its dedicated blockchain network for non-fungible tokens and digital fan engagement, the organization announced on May 22.
FIFA’s layer-1 (L1) blockchain will be powered by the Avalanche network’s scalability-focused infrastructure for the association’s five billion fans worldwide.
The move comes nearly a month after FIFA announced its initial plans to launch a new network for its blockchain-based collectibles. AvaCloud’s Ethereum Virtual Machine (EVM) compatibility will enable smoother integration with decentralized wallets and applications.
Related: Bitcoin hits new all-time high of $109K as trade war tensions ease
The move will enable FIFA to deliver “unique digital collectibles and immersive fan experiences, powered by the speed, scalability, and EVM compatibility,” according to Francesco Abbate, CEO of Modex and FIFA Collect.
“The decision was based on a rigorous analysis of key factors including performance, security, transaction fees, customizability, and scalability,” Abbate stated in a May 22 announcement shared with Cointelegraph.
Related: Bitcoin volatility lowest in 563 days, Hayes predicts $1M BTC by 2028
FIFA Collect begins migration to AvalancheAs part of the rollout, FIFA will migrate its NFT marketplace and NFT collection, FIFA Collect, to the new Avalanche-powered FIFA Blockchain.
FIFA added that “future plans and business cases are planned but not yet publicly disclosed.”
Following the migration, external Algorand-based wallets such as Pera and Defly will no longer be supported. Instead, users will be able to connect to FIFA Collect via MetaMask or other EVM wallets that support WalletConnect.
FIFA launched its NFT collection ahead of the 2023 Club World Cup in Saudi Arabia in collaboration with blockchain firm Modex.
Source: EntertheMythosIn November 2024, FIFA partnered with blockchain gaming studio Mythical Games to launch FIFA Rivals, a free-to-play soccer game for iOS and Android.
Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26
Why this matters
This nft story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CointelegraphRelated market context
US government moves $470 million in seized crypto to Coinbase wallets, raising Bitcoin sale questions
The US government moved about $470 million in seized crypto to likely Coinbase Prime addresses, according to Arkham, reviving ques...
Cardano Brings Compliance Rules On-Chain With CIP-0113 Launch
TL;DR: Cardano’s CIP-0113 programmable token standard is now live on mainnet. It gives issuers the ability to build controls such...
Why Abstract is killing its Ethereum L2 instead of launching a token to save it
Abstract will shut down on Dec. 15 despite onboarding more than 400,000 users, hosting 144 apps, and landing brands including Disn...
Plume Network launches nFBND vault tied to Fidelity’s Total Bond ETF
Plume's nFBND vault could revolutionize fixed-income markets by bridging traditional finance and blockchain, enhancing asset liqui...
OpenAI math breakthroughs raise ‘bunker mode’ alarm from Bitcoin researcher Justin Drake
OpenAI’s latest advances in mathematics have prompted a leading Ethereum researcher to warn that crypto’s core wallet security cou...
Moomoo Adds Crossover’s Crypto Execution Network for US Retail Traders
Crossover Markets has partnered with Moomoo to provide the investment platform with access to its CROSSx digital asset execution n...