FIFA Partners With Avalanche to Develop EVM Blockchain for Digital Collectibles
FIFA is developing a custom EVM-compatible blockchain in partnership with Avalanche to enhance its Web3 presence and support digital collectibles. This new platform, the FIFA Blockchain, will replace the previous hosting on Algorand and Polygon.
Key Points
- The FIFA Blockchain aims to improve speed, scalability, and security for user experience.
- CEO Francesco Abbate noted easier access to collectibles via popular wallets and readiness for future expansions.
- Following the announcement, Avalanche's native coin AVAX rose 10.49% to $24.92.
- Avalanche has upgraded its Layer 1 network to facilitate quicker and cheaper project launches.
- Avalanche recently achieved a five-month high in NFT sales, outperforming major networks like Bitcoin and Ethereum.
- FIFA Collect will launch first, with potential for further digital products, though no timeline is confirmed.
- This partnership enhances Avalanche's reputation as a practical network for blockchain projects.