Boost For Fan Token Sector As FIFA Confirms Plans To Launch Its Own Blockchain

The Web3 sports sector is gaining momentum. After announcing plans to launch its own token at the February White House Crypto Summit, FIFA, football’s global governing body, has advanced its Web3 strategy by unveiling the FIFA Blockchain, a layer-1 built on the Avalanche Network.

This strategic move will allow FIFA to offer “unique digital collectibles and immersive fan experiences,” said Francesco Abbate, CEO of FIFA Collect. As part of this initiative, FIFA will transition its NFT marketplace and collection, FIFA Collect, to its new blockchain.

FIFA noted that “additional plans and business opportunities are in development but have not yet been publicly disclosed.”

FIFA’s adoption of blockchain technology is a significant boost for the Fan Token digital asset class, which is likely to attract more fans to explore token-based engagement, increasing demand for Fan Tokens across the Web3 sports ecosystem.

The involvement of a global institution like FIFA in Web3 accelerates the sector’s growth by validating the infrastructure and use cases, fostering greater trust and interest among fans, investors.

Fan Tokens are the official digital asset class for sport, backed by this season’s Champions League finalists Inter Milan ($INTER) and Paris Saint Germain ($PSG), and 70+ more leading sports teams – including last night’s (Wednesday May 21st) Europa League winners Tottenham Hotspur ($SPURS).