Despite the gloomy atmosphere that currently reigns within the crypto industry, operators in the sector intend to take advantage of this sporting event to make themselves known and acquire new users.
Besides being a hype war between various companies in this industry, the World Cup could also be a chance for the general public to forget about this year’s bad news and to familiarize new people with certain technologies of the world. .
A Fan Token is a digital token for a team’s fans. This concept invented by Socios.com and developed on the Chiliz blockchain allows anyone to support their favorite club and/or country.
Holding a Fan Token in your hand, you will then be able to take part in some of the team’s decisions such as deciding on the design of the kits and captain’s armbands, voting on the goal of the season, naming new structures and other matters on which they had no say before.
In addition to being able to take part in certain decisions, fan tokens also allow you to unlock VIP rewards and access exclusive promotions.
The Chilliz blockchain has already attracted more than a million users and Socios has already managed to convince some well-known teams like PSG, FC Barcelona, AC Milan, Manchester City or even nations like Argentina or Portugal.
Every World Cup is also a perfect occasion to collect Panini cards or other related items.
With the development of blockchains and the democratization of projects like Sorare, there’s a good chance this excitement is now happening digitally. The world of football has always been very interested in crypto-assets, and recently the 2022 Ballon d’Or also received its trophy in the form of NFTs.
Even if tickets are not yet issued on the blockchain, it would therefore not be surprising to see more and more initiatives around NFTs during the World Cup in Qatar and upcoming sports competitions.
And it will already be like this this year. For example, Sorare planned to release a free Global Cup ’22 event or beer brand Budweiser decided to release a special collection of NFTs for this event. FIFA has also unveiled four Web3 games to keep football fans entertained and better engaged during the FIFA World Cup.
Founded by Silvio Micali, Turing Award winner and former professor at MIT, Algorand is a blockchain created in 2017. This blockchain is based on a Proof of Stake consensus model and aims to solve the trilemma of blockchains: scalability, security and decentralization.
Still little known to the general public, Algorand recently announced an official partnership with Fifa.
Algorand will therefore take advantage of this partnership to have strong visibility among the general public and allow FIFA to “develop its digital heritage strategy”. As part of an agreement that covers both sponsorship and technical matters. Through this partnership, Algorand will benefit from the visibility of the Football World Cup while Algorand will offer Fifa its technical expertise to become the official blockchain platform of Fifa and offer different solutions such as a blockchain wallet or Fifa + Connect, an NFT platform that allows supporters to collect “moments” of the event.
Down 80% year-on-year, the World Cup could allow the token to recover and the blockchain to gain new users.
Despite the criticism leveled by some at the 2022 edition of the World Cup in Qatar, brands continue to invest heavily in this event and despite an unfavorable climate for crypto-assets, the World Cup could allow some projects to gain visibility and perhaps even see the their price rebound.