FIFA is Getting Ready for the Metaverse!

Through blockchain and various partnerships with crypto firms, Fifa has already made significant progress toward the 2022 World Cup, which will be held in Qatar in November. However, it is also planning future events with this last initiative.

FIFA will be mentioned a lot in Metaverse World!

FIFA is planning ahead for the next world cup tournament, which will take place four years from now. By undertaking the FIFA Metaverse initiative, it has shown that the football organization is heavily diverting its Web3 expansion efforts. In addition, according to the application, the organization plans to sell digital versions of these products through virtual stores. Items are expected to include accessories such as virtual clothing, hats, glasses, and sports equipment. As of now, the organization's exact plans for these products are unknown.

The application intends to trademark its virtual storefronts, as well as virtual stock trading, financial services, and other services. This application demonstrates FIFA's ambition to include its key financial services in the Metaverse. It is desirable to use various payment services. The organization's incorporation of virtual stock trading, exchanges, and their related administration are beneficial to the Blockchain ecosystem.

FIFA's Web3 Initiatives

FIFA is also working on a central Web3 expansion for the World Cup in 2022. It has also developed various agreements with cryptocurrency and Blockchain firms in order to solidify its position as a prominent player in the digital asset market. One of his earliest sponsorship partnerships was with prominent cryptocurrency exchange Cryptocom. FIFA just announced Cryptocom as the official sponsor of the 2022 World Cup, which will be hosted in Qatar.

In another agreement, FIFA announced a partnership with Algorand. Algorand became the first official Blockchain partner of the 2022 World Cup tournament. In addition, the Blockchain company will be the official sponsor of the 2023 FIFA Women's World Cup, which is planned to be held in Australia and New Zealand. According to the agreement signed between the parties, FIFA also announced that it will develop digital asset technology with the help of Algorand. It has also been stated that a blockchain-supported wallet will be created.