KEY POINTS
The Romanian Football Federation (FRF) has officially joined the FIFA+ Collect non-fungible token (NFT) platform, becoming the first federation to do so.
On June 5, the FIFA+ Collect account announced on X (Twitter) that “Romanian football fans will now be able to experience the passion for their national team like never before.” This partnership means that real-life highlight moments from the Romanian national team will be converted into NFTs for fans to collect.
FIFA+ Collect, which launched in September 2022, operates on the Algorand blockchain. The platform gained significant attention in 2023 when one of its NFT releases sold out within 30 minutes, offering collectors exclusive experiences and signed items.
This is not FIFA’s first venture into Web3. In 2022, the association filed a trademark application for “World Cup 2026” to enter the metaverse. Later that year, in November, FIFA introduced a range of Web3 games that fans could play during the World Cup Qatar 2022.
FIFA has continued to explore Web3 technology through various partnerships and initiatives.
In August 2023, FIFA collaborated with the Upland metaverse to bring the Women’s World Cup Australia & New Zealand 2023 into the metaverse.
Additionally, in December 2023, FIFA launched an exclusive NFT collection in partnership with Modex to commemorate the World Cup Saudi Arabia 2023, providing rare digital moments and exclusive opportunities for fans.
The impact of Web3 technology on sports extends beyond soccer. Other sports like tennis and basketball have also embraced NFTs, allowing fans to connect more closely with their favorite players and collect memorable moments. These digital assets not only serve as collectibles but also offer the potential for monetization.
According to Market Decipher, the sports NFT market was valued at $2.6 billion in 2022 and is projected to reach $41.6 billion by 2032, with a compound annual growth rate (CAGR) of 36.3% from 2022 to 2032.
