FIFA is partnering with Avalanche to create its own layer-1 blockchain, marking a significant step in its Web3 ambitions. This follows its previous NFT collection launched on Algorand in 2022. The move signals FIFA’s ongoing commitment to blockchain technology, despite a downturn in the NFT market. Avalanche’s recent upgrade is designed to attract developers to build custom solutions, supporting FIFA’s digital initiatives.
FIFA has announced an ambitious move into the blockchain world by partnering with Avalanche to create its own layer-1 blockchain. This new development represents a significant step in FIFA’s Web3 strategy. The organization had previously dipped its toes into blockchain waters by releasing an NFT collection on Algorand in 2022, specifically ahead of the Qatar World Cup.
The blockchain in question is built on Avalanche technology, tailored specifically for FIFA under the custom designation of Avalanche L1. This announcement coincides with Avalanche’s recent upgrade, dubbed Avalanche9000, aimed at inviting developers to create bespoke L1 solutions. Clearly, the football governing body is investing heavily in expanding its digital footprint.
This isn’t FIFA’s first venture into the crypto realm. The organization hinted at a pivot in April, announcing plans to transition its NFT collection to an EVM-compatible blockchain while continuing to promote its Web3 initiatives. Although enthusiasm for NFTs has waned since the intense hype peaked, FIFA’s renewed focus suggests blockchain technology retains its relevance.
John Nahas, chief business officer at Ava Labs, stated, “Avalanche is designed for enterprises and organizations looking to build custom, high-performance blockchain solutions.” This endorsement from Nahas underscores FIFA’s choice to launch its new platform on Avalanche, highlighting the strength and adaptability of the network for large-scale applications.
Currently, FIFA is limited to its World Cup NFT collection and a digital collectibles marketplace, with no further details on future releases from the new blockchain. It seems like there’s a lot more in store for FIFA and its blockchain ambitions in the near future.
FIFA’s decision to develop its own Avalanche-powered blockchain marks a bold and important step in its Web3 journey. After earlier experiences with NFTs on Algorand, this move signals that major players in the industry are still committed to blockchain despite earlier downturns in sentiment. The support from Avalanche’s technology could showcase FIFA’s drive to innovate and leverage digital solutions that may redefine fan engagement in sports.
Original Source: www.coindesk.com
