Algorand’s FIFA partnership for the upcoming 2022 World Cup made big news, as Algorand became the official blockchain platform of FIFA. The first result of this partnership is FIFA Collect +; a verified digital collectible series of World Cup highlights. FIFA Collect+ consists of NFT recordings of historic moments throughout FIFA football’s 92 year history. It captures iconic moments from some of the most memorable World Cup matches, and is the only place where fans can collect and own their very own World Cup moments.
If you’re looking for more information about FIFA Collect NFTs, including what they are, how to buy them, and whether or not they’re a good investment— read on.
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FIFA Collect NFTs
The best thing about the FIFA Collect and Algorand partnership is that the NFTs are incredible. They feature high resolution clips that have great camera angles and beautifully capture the moment in the game. Seriously, just watching one clip gets your heart racing with excitement if you’re a World Cup fan. Just look at this mundane moment of a common tier highlight I pulled in a recent pack opening — you can quite literally feel the tension of the match through the cheers.
Each FIFA Collect NFT costs $5 USD, but can be purchased with the Algorand equivalent of USDC as well. You receive three highlight moments from each pack, which can be one of four rarities: common, rare, epic, or the ultra coveted unique. To date, there have been over 230,000 packs opened. That’s over $1M USD in sales, and the world cup hasn’t even begun yet. There are plans to sell collectible moments of the upcoming 2022 world cup.
The FIFA Collect Marketplace on Algorand
FIFA Collect is built on the Algorand blockchain, which means that there is obviously going to be some way to trade and exchange your NFT moments. While you don’t own the wallet itself, you can still sell and buy FIFA NFT moments on the website’s marketplace. You can list packs for sale at a minimum of $5 USD, and view highlights and moments that other users have listed. It’s a cool way to try and snag a impactful moment from one of your favorite matches.
FIFA Collect as an NFT Investment
It’s pretty clear that FIFA Collect is a really cool product, but how does it hold up as NFT investment and something that can appreciate in value over time?
The short answer is: not great, at least in the current state.
The main thing to take note of is that the supply of packs is extremely high for a generation 1 drop. With 500,000 packs being minted, that puts the number of collectibles available at 1.5 million, and that doesn’t even include the new packs that are dropping like the FIFA Archives and Curator Collection — South American Flair packs. The supply is simply too high to serve as an effective investment funnel.
Additionally, the FIFA Collect+ isn’t being marketed much by FIFA at all. They’ve created a twitter account with 14,000 followers to promote it, but haven’t done much marketing beyond that. Beware of over committing to FIFA Collect without seeing stronger intent from the FIFA organization.
That said, it isn’t all bleak. Similar to real life trading cards, the top moments will likely hold up well, especially since the collection is officially sponsored by FIFA. Those moments could have the potential to become true highly sought after collectibles— or maybe not. It depends on a lot of factors, like the success of the FIFA collect roadmap, the marketing effort FIFA and Algorand put into it, and the product market fit.
All in all, it may be best to treat the collection as what it truly is: a way to capture exciting world cup moments. Not financial advice!
How to buy FIFA NFTs using Algo with Pera Wallet
Step 1: Download Pera Wallet on your mobile device.
Step 2: Fund it with $ALGO, and swap to the desired amount of USDCa on tinyman
Step 3: On the FIFA pack page, click USDCa and connect your Pera wallet by scanning the QR code
Step 4: Allow FIFA to Connect to your desired wallet, and purchase whichever pack you would like.
FIFA Collect Roadmap
FIFA Collect recently announced their roadmap, and it has some interesting pieces of information. Namely, there are a series of packs that will launch throughout the end of the year:
- Curator Collection – South American Flair
- FIFA Archives 2
- Curator Collection – 80s & 90s
- FIFA Archives 3
- Curator Collection – Best of Europe
There are also a series of collector rewards that will take place before the start of the world cup, in which collectors who complete rarity tier collections earn increasingly interesting rewards. Pack purchases also serve as raffle entries for a paid trip with airfare, luxury accommodations, and tickets to two quarter and semi-final matches.
FIFA and Algorand Blockchain Technology Partnership
The FIFA and Algorand partnership goes beyond just FIFA Collect. According to the official fifa.com post, the partnership will consistent of a technical deal where “Algorand will assist FIFA in further developing its digital assets strategy, while FIFA will provide sponsorship assets including advertising, media exposure and promotional opportunities.”
Additionally, Algorand will be a regional sponsorship for the upcoming 2022 world cup and a official sponsor of the 2023 World cup.
What does this partnership mean for Algorand?
The technology partnership has the potential to be fruitful and generate more interest towards the Algorand blockchain. FIFA Collect+ has generated a lot of interest in Algorand, and the world cup hasn’t even started yet.
Beyond that, we don’t really know yet. Speculators hope that this means Algorand technology might one day be used as part of a future version of the FIFA game — a possibility that could be truly exciting and propel forward the Web3 gaming use case.
As of right now, we need to see FIFA do a bit more with this collaboration. The NFT collection is a nice start, and the product is fun— but it kind of feels like a money grab right now.
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