Key dishes to remember
- The FIFA collection platform will go to an EVM compatible blockchain.
- Portfolios based on algorands will not be supported after migration, with Metamask and WalletConnect compatibility.
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FIFA Collect, a digital platform created by the International Football Association Federation (FIFA) which allows football fans to collect, exchange and appreciate digital collectibles starring emblematic moments in the history of football, announced today that it would migrate its NFT platform to a new FIFA Blockchain Compatible EVM.
The transition, scheduled to start at the earliest May 20, aims to support improved performance, future functionalities and an improvement in the scalability of the digital collection ecosystem of the platform.
According to FIFA, this modification will not affect users’ access to their accounts or existing digital collectibles. All assets will remain fully secure and accessible throughout and after the migration process.
The upgrade will make changes to the compatibility of portfolios, with wallets based on algorands like Pera and no longer supported after migration. Users can rather connect using Metamask or other EVM compatible wallets that support WalletConnect.
“FIFA blockchain has been created to support new experiences, allowing the compatibility of portfolios and providing stronger foundations for future innovation,” said FIFA in its migration FAQ document.
Users who have exported collectibles must reimcraft them before the migration date to guarantee the inclusion in the automatic transfer process. After the breakdown, manual migration will require additional verification.
USDC sales will remain available for expenses until the migration date and can be withdrawn, but not spent, after the transition. The collectories listed will be automatically transferred to the new platform unless users put them before migration.
FIFA’s one -year partnership with Algorand
In May 2022, FIFA announced a strategic collaboration with Algorand, appointing it the official partner of the organization’s blockchain. As part of the agreement, Algorand provided a portfolio solution supported by the blockchain and played a key role in the training of the FIFA digital asset strategy.
Thanks to this collaboration, FIFA has explored innovations focused on blockchain such as non -buttons (NFTS) and digital portfolios, emphasizing transparency, sustainability and income growth.
The partnership led to the launch of FIFA Collect later in 2022. Propelled by Algorand, the NFT platform allows fans to collect and engage with emblematic moments of football in digital form.
Algo, the native asset of Algorand, dropped from 3% to $ 0.2213 on Binance after the news.
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