FIFA Releases Genesis NFTs on the eve of World Cup

September 28, 2022

By Sharan Kaur Phillora

With the 2022 FIFA in Qatar just two months away, the football governing body is throwing NFTs into the mix with its FIFA+ Collect platform that went live on Sept. 22. The platform announced a Genesis Drop, a collection of 532,980 packs containing historical highlights from past FIFA events.

Here’s what we know:

The FIFA+Collect NFT platform leverages the Algorand blockchain, a proof-of-stake network that became FIFAs official blockchain partner in May. The packs are priced at $4.99 apiece and each contains three randomly selected highlights, or what the platform calls moments.

Aficionados can purchase packs using credit cards or USDC-A on the Algorand network.

According to Horizen Labs, the staking for APE, the Ethereum-based utility token issued by the popular Bored Ape Yacht Club (BAYC) NFT ecosystem, will launch on Oct. 31. APE holders chose Horizen to build the staking platform after it was approved by the DAO earlier this year. 175M APE tokens amounting to 17.5% of the supply will be distributed as staking rewards over three years.

Two collections from the Renga project generated 4,300 ETH ($5.8M) in secondary volume on OpenSea last week. Japan-based illustrator DirtyRobot is behind the collection of 10,000 characters that will play a role in the wider stories of RENGA, according to the project’s OpenSea page.

Secondary sales volumes continue their abysmal streak, with just $123M traded in the week ending September 19. Volume in dollar terms has now dropped for six straight weeks.

Renga Black Boxes, minted in June, serves as mint passes for the characters and are burned when utilized.

About the author

Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.

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