- FIFA plans the introduction of a native token to promote the commitment of fans.
- However, the project remains speculative with regard to legal and regulatory hurdles.
FIFA (Fédération Internationale de Football Association) further penetrates into the cryptocelt. According to reports, she is preparing the launch of her digital wealth value FIFA-Coin, which could change the commitment of the fans and the use of cryptocurrencies in sport.
FIFA launches her own token
According to several sources, FIFA President Gianni Infantino wants to have a FIFA coin developed. FIFA coin would use blockchain technology to get in touch with the growing global fan base of the organization.
The news that FIFA publishes its own coin has triggered a discussion in the crypto and sports community. Some discussions revolved around the challenges that arise when introducing cryptocurrencies in the sports industry. Analysts referred to regulatory uncertainties, security concerns and transaction fees as the main problems that the FIFA must solve before the successful introduction of its coin.
During President Trump’s crypto summit in the White House, Gianni Infantino revealed the organization’s interest in cryptocurrencies:
“FIFA is very, very interested in developing a FIFA coin, from here, from America, and around 5 billion football fans in the world,” said Infantino. US President Donald Trump reacted positively to the announcement of the FIFA coin and explained: “This coin could ultimately be worth more than FIFA. It could actually be a very nice coin “
The President’s statement has contributed to underlining the recognition of the FIFA for cryptocurrencies and its effects on the sports industry. The organization fans could benefit from the coin through blockchain technology and other digital innovations. A FIFA coin could meet several purposes within the football ecosystem.
For example, fans can use the coin to buy tickets, get access to exclusive content and carry out merchandise transactions. The FIFA coin and the architecture on which it is based can facilitate new initiatives to integrate fans.
In addition, FIFA could use a token-based system to solve cross-border payment problems. The token could offer an alternative, sometimes smooth option for international transactions in connection with sports and fan activities.
It is important to note that this is not the first time that FIFA enters into the cryptocurrency. How In our previous discussion indicatedthe FIFA once introduced 1,000 digital collectibles on the L2 network polygon.
Challenges for the introduction of FIFA coins
The confusion on the market has accelerated after the announcement by Infantino. This led to a price increase of 357,000 % in an uninterrupted cryptocurrency called “FIFA”
This token reached a market capitalization of around $ 8.2 million, although it has no connection to the official FIFA funeral. Analysts see this token as a major challenge for FIFA coin because it could distract investors from the digital asset.
The official FIFA coin could also encounter regulatory challenges in several important legal systems. In addition, the environmental impact of blockchain networks is a major challenge for the FIFA coin. If FIFA continues with this initiative, it could work with established blockchain companies.
The FIFA coin is announced in the middle of the increasing cooperation between the sports and the blockchain industry. As we reported last week, Vechain has concluded a title sponsor contract with Power Slap. Tether acquired last month A minority stake in Juventus to connect crypto innovations with mainstream sports.
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