World Cup in Qatar: what impact for crypto-assets?

Despite the gloomy atmosphere currently reigning in the crypto industry, players in this sector intend to take advantage of this sporting event to gain exposure and acquire new users.

In addition to being an advertising war between different companies in this sector, the World Cup can also be an opportunity for the general public to forget the bad news of this year and introduce young people to some of the world’s technologies. .

The key figures of the biggest international football competitions Statistics

Fan signs

A Fan Token is a digital token for fans of a team. This concept invented by Socios.com and developed on the Chiliz blockchain allows anyone to support their favorite club and/or country.

By holding a Fan Token, you will be able to participate in certain team decisions, such as deciding on the design of the jerseys and captain’s armbands, voting for the goal of the season, naming new facilities and other matters for which they had not before. say

In addition to being able to participate in certain decisions, fan tokens also allow you to unlock VIP rewards and access exclusive promotions.

Blockchain Chilliz has already attracted more than one million users and Socios has already managed to convince some well-known teams such as PSG, FC Barcelona, ​​AC Milan, Manchester City or even countries such as Argentina or Portugal.

NFTs

Every World Cup is also a perfect opportunity for people to collect Panini cards or other similar items.

With the development of blockchains and the democratization of projects like Sorare, there is a good chance that this enthusiasm will now happen digitally. The world of football has always been very interested in crypto-assets, and recently the Ballon d’Or 2022 also received its trophy in the form of NFT.

Even if the tickets have not yet been released on the blockchain, it would therefore not be surprising to see more and more initiatives around NFTs during the Qatar World Cup and future sports competitions.

And so it will be already this year. For example, Sorare has planned to release a free Global Cup ’22 event or the beer brand Budweiser has decided to launch a special collection of NFTs for this event. FIFA has also unveiled four Web3 games to entertain football fans and better engage them during the FIFA World Cup.

Algorand

Founded by Silvio Micali, winner of the Turing Award 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 benefit from this partnership to have a strong exposure to the general public and allow FIFA to “develop its digital legacy strategy”. As part of an agreement covering both sponsorship and technical matters. Through this partnership, Algorand will benefit from the visibility of the Soccer World Cup while Algorand will provide FIFA with its technical expertise to become FIFA’s official blockchain platform and provide several solutions such as a blockchain wallet or Fifa + Connect, an NFT platform that allows supporters to collect “moments” of the event.

Down 80% year-over-year, the World Cup could allow the token to recover and the blockchain to gain new users.

Despite the criticism made by some people regarding the 2022 edition of the World Cup in Qatar, brands continue to invest heavily in the event and despite an unfavorable climate for crypto-assets, the World Cup may allow some projects to gain visibility and maybe even see their price rebound.

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