If something characterizes the World Cup in Qatar 2022, it is money. FIFA reports that this year it has generated some 7.5 billion dollars in sponsorships. An unprecedented figure that exceeds the World Cup in Russia by more than 1,000 million dollars. And if it has achieved these numbers, it is partly due to the pull of cryptocurrencies. Unfortunately for their interests, just before the start of the World Cup there has been an unprecedented crisis in the crypto world.

Crypto.com is one of the main sponsors. It had been more than a decade since an American company had sponsored the World Cup. It has been Crypto.com, one of the largest exchanges in the world who has put the money on the table. The cryptocurrency company is known for partnering with sporting events and stadiums, such as the Los Angeles Lakers.

NFTs everywhere. From LaLiga we had already seen how they had flirted with NFTs and virtual trading cards, now we see that the World Cup in Qatar wants to become the global event that consolidates them. Several collections have been launched for this World Cup that are expected to gain a lot of visibility, since they belong to several of the main sponsors of the event.

FIFA+ Collect is a collection of virtual stickers commemorating some of the most iconic moments from the World Cups. For this they have allied with Algorand and are using several top-level footballers to promote them.

They are not the only ones. The Budweiser beer brand has launched Budverse, some NFTs based on the official markings of the matches. The idea is to pay to have the token of your choice and access specific experiences. As was the case with trading cards, there are always more interesting collections than others.

Masters of Movement is perhaps the NFTs project for the World Cup with the most care behind it. VISA has collaborated with Crypto.com to create five NFTs, based on goals by Jared Borgetti, Maxi Rodríguez, Tim Cahill, Carli Lloyd, and Michael Owen. The movement of those goals has been transformed into a dynamic image generated by an algorithm. The result will be auctioned off and the proceeds will go to a charity.

Digitizing the goals of the fans. Investment in NFTs also has its side in the stadiums themselves. In Doha, fans will be able to approach stands where they can enter a field with tracking technology to digitize the goals they score. That is, transform the goal they score into an NFT. Instead of the classic photo, they will get a more modern digital memory.

Messi, Cristiano or La Roja already have their own collections. Everyone wants to have their own token. Creating them is simple and is a way of trying to take advantage of the fan phenomenon. The Spanish National Team launched theirs last year and although they expected it to grow with the World Cup, the truth is that its value has remained quite stable. Something else has grown that of the Argentine National Team.

Messi launched his collection on Ethernity when he signed for PSG and recently Cristiano Ronaldo has teamed up with Binance for a collection called CR7. The World Cup is an event that brings together millionaire audiences and is seen as a golden opportunity to try to encourage more people to buy these tokens.

Qatar wants fans traveling to the World Cup to install two apps: for experts, spyware

The collapse of FTX may shake up FIFA’s plans. The FTX crash has collapsed trust in blockchain projects. FIFA had hoped the World Cup would be an ideal showcase for its NFTs, but it has found itself with a cryptocurrency market in low hours.

“Cryptocurrency companies are betting more on soccer than soccer on cryptocurrency companies,” sums up José Parra Moyano, professor of ‘blockchain’ at the Copenhagen Business School, to EFE. Sponsorships have been rejected by some soccer teams Millionaires with crypto companies to avoid possible conflicts with partners. However, in Qatar FIFA has gone unchecked. We will wait until the World Cup ends to see how the fans have received it.

Source: www.xataka.com

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Tarun Kumar

Tarun Kumar has worked in the News sector for 05 years and is currently the Owner and Editor of Then24. He reside in Delhi, India with his Family.

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