• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

FIFA Transitions to Own Blockchain, Ends Algorand Partnership

190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
Key Takeaways:

  • FIFA leaves Algorand, develops own EVM blockchain.
  • Partnership ends May 2025.
  • Shift affects Algorand’s market activity.


FIFA to Launch Own Blockchain for NFTs

This event underscores FIFA’s pursuit of greater control over its digital ecosystem, aiming to enhance NFTs’ performance and scalability.

FIFA’s New Blockchain Strategy

FIFA is launching its own EVM-compatible blockchain for digital collectibles. Previously, Algorand hosted FIFA’s NFT activities under their partnership established in 2022. This marks a notable shift in FIFA’s blockchain strategy. The upcoming blockchain, dubbed “FIFA Blockchain”, aims to house FIFA Collect, increasing both performance and scalability.

The migration impacts holders of FIFA NFTs, who will see their assets moved to the new platform unless manually delisted. This transition represents a significant change for Algorand, potentially reducing its NFT transaction volume, given FIFA’s large-scale migration. By starting May 2025, wallet support will transition from Algorand-based Pera and Defly to EVM wallets like MetaMask.

The broader implications of this move include expected shifts in market activity within the Ethereum ecosystem. Since FIFA’s new blockchain is EVM-compatible, increased trading and integration opportunities could be anticipated for EVM-based assets. Historically, such migrations from lesser-known to EVM-compatible blockchains have led to shifts in transaction volumes.

The expected transition comes with minimal regulatory comment, with no public statements from financial watchdogs. Community sentiments are positive, supported by FIFA’s promises of guidance and a clear roadmap. “Easy, step-by-step instructions will be released nearer to the migration date to ensure smooth migration for all holders of NFTs,” FIFA stated. The introduction of EVM support comprises an essential development, with the potential for FIFA to launch its own utility token on the new platform.


Related articles

U.S. Adds 139,000 Jobs, Market Reactions Mixed

June 7, 2025

Binance Alpha To Launch DeFi App HOME on June 10

June 7, 2025
Share76Tweet48

Related Posts

U.S. Adds 139,000 Jobs, Market Reactions Mixed

by shark
June 7, 2025
0

U.S adds 139,000 jobs in May, surpassing forecasts. Crypto markets react cautiously.

Binance Alpha To Launch DeFi App HOME on June 10

by shark
June 7, 2025
0

Discover Binance Alpha's new platform launch featuring the DeFi App (HOME) token, set to intensify market interest on June 10,...

UK FCA Proposes Lifting Retail cETN Ban

by shark
June 7, 2025
0

The UK Financial Conduct Authority (FCA) proposed lifting the ban on crypto exchange-traded notes for retail investors, originally imposed in...

CZ Refutes NYT Allegations on Trump Meme Coin Dinner

by shark
June 7, 2025
0

Binance's Changpeng Zhao rejects NY Times claims on Trump meme coin event involvement.

Circle’s IPO Boosts Interest in Stablecoins

by shark
June 7, 2025
0

Circle Internet Group's IPO on the NYSE significantly elevates the profile of stablecoins, drawing interest from major institutional investors like...

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • U.S. Adds 139,000 Jobs, Market Reactions Mixed
  • Binance Alpha To Launch DeFi App HOME on June 10
  • UK FCA Proposes Lifting Retail cETN Ban
  • CZ Refutes NYT Allegations on Trump Meme Coin Dinner
  • Circle’s IPO Boosts Interest in Stablecoins
  • FCA Signals Potential UK Retail Crypto ETF Access
  • Qubetics Powers Smart Blockchain Solutions, Cronos Expands AI Gaming, Avalanche Integrates Stripe—Best Crypto to Invest in June 2025
  • Ripple, SEC Await June 16 Court Status Decision
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7