What is FIFA Collect NFT Platform?

The FIFA NFT Platform is the official blockchain platform of FIFA. Essentially, it is an application that makes it possible for fans to purchase, collect and even showcase digital collectibles that contain licensed content by the Fédération Internationale de Football Association (FIFA). The platform was created by AlgoFan Pte Ltd. The App allows users to acquire and/or earn, collect, and showcase NFTs that are related to FIFA. The NFTs can be purchased in a number of different ways including:

• Purchasing packs of FIFA NFTs from the company directly via the App

• Buying FIFA NFTs from other users in the App’s marketplace 

• Buying an individual FIFA NFT directly through the App

• Buying individual FIFA NFTs via auctions on the App. 

The types of Packs available come in a range of types and depending on the type of Pack a user purchases, they will collect FIFA NFTs with varying levels of scarcity.  If a user purchases an individual FIFA NFT from another user in the Marketplace or from the company via the App, they will know the exact FIFA NFT that they are purchasing.  

It is recommended that users purchase FIFA NFTs on the Marketplace or otherwise through the App but if a user decides to purchase FIFA NFTs in any other way, they should understand that such purchases will be entirely at their sole risk e.g. in case they are sold a fraudulent digital collectible. 

What Makes FIFA NFTs Unique?

FIFA NFTs can come in the form of audio, visual, or audiovisual content that typically depicts various features, locations, moments, figures, or other items that are associated with FIFA. What’s cool is that each FIFA NFT has a defined set of attributes that include scarcity and this is used to determine the value of each NFT. It’s important to note that the value of each NFT is inherently subjective just as many other types of NFT collectibles that have no inherent or intrinsic value. 

In the FIFA Collect App, a user can showcase and organise their NFTs. 

How to Purchase a FIFA Collect NFT

Any payments or financial transactions that users engage in via the App are conducted solely through the Algorand Network. Payment processing is handled by Circle Internet Financial Limited (Circle). 

FIFA Collect Genesis Drop

The drop will be the first to offer the public a piece of football history with the Genesis pack which is described as the inaugural drop that contains iconic highlights from the immortal legacy of the FIFA World Cup. The great news is that the price point for the Genesis pack is only US$5. We are going to demonstrate how the process works below. Firstly go to https://collect.fifa.com/ to purchase a pack from the Genesis collection.

You need to register on the platform first and agree to the terms of use.

Once you’ve confirmed registration, you can proceed to purchase a drop using a debit or credit card. Alternatively, you can use USDC on the Algorand blockchain. 

When your payment has cleared you can open up your pack to view the NFTs assigned to your wallet.

Since each FIFA NFT is on the Algorand Network, when a user makes a purchase, they own the underlying NFT completely which means that they have the right to swap the FIFA NFT, sell it, or even give it away.

I was fortunate to get 2 rare NFTs in my collection. 

One of the rare NFTs is a video moment of a double-save from close range by Zaire goalkeeper Robert Kazadi Mwamba during a game against Brazil at the 1974 FIFA World Cup in West Germany. The NFT can be verified via Algorand’s block explorer. 

The video clips are similar in concept to other NFT collections such as NBA Top Shot.

By being a user of the FIFA Collect platform, you also get access to FIFA+ which hosts exclusive FIFA content. 

FIFA Collect Platform Fees 

AlgoFan, which operates FIFA Collect, receives a 5% fee on every sale of a FIFA NFT that is made via the Marketplace. The secondary marketplace where holders of NFTs will be able to resell and trade NFTs is yet to go live. 

Creator fees are enforced via Smart Contracts on the Algorand Network. They are also incorporated into the price of all FIFA NFTs. 

Should You Buy FIFA Collect NFTs?

Participating in the Genesis Drop has a low barrier to entry and the cost which is around $5 is fairly reasonable. As advised by FIFA Collect, the NFTs do not have any intrinsic  value, however, there could be opportunities to sell your NFTs once the secondary market is open for trading. If you’re a football then this could also be a way to get engaged in with the NFT community around common interests. Always do your own research before getting involved. If you want to learn more about the innovations in the world of sports and blockchain technology, check out our article about Sports Fan Tokens.

Originally published on Decentralised News

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