The global payment processor Visa and the global football association FIFA have partnered with digital assets exchange Crypto.com to launch football-inspired non-fungible tokens (NFTs) ahead of the world cup in Qatar. The aim is to engage with football fans in the FIFA World Cup happening in 2022. Visa has been dubbed the official partner of the International Federation of Association Football, and its Masters of Movement project is the first of its kind. It’s an immersive activation and hybrid experience that features a pre-event NFT deal for football admirers in the FIFA world cup and is scheduled to begin in the weeks leading up to the World Cup.
The Visa Masters of Movement NFT collection features unique digital artworks, avatars, and other collectibles curated from the FIFA World Cup and FIFA Women’s World Cup competitions. The NFT collection is inspired by iconic goals scored by the top five legendary football stars: Carli Lloyd, Jared Borgetti, Tim Cahill, Michael Owen, and Maxi Rodriguez. It will be minted into NFTs for fans across the globe. Fans can create their special NFT inspired by their favorite football moments.
Crypto.com is the official cryptocurrency trading platform sponsor of the FIFA world cup Qatar 2022. According to experts at Bitcode Method, Crypto.com will mint the tokenized assets, and the digital artwork will serve as gifts and trophies. Champions will be allowed to mint the designed collectibles as one-of-a-kind NFTs. Chief Marketing Officer at Crypto.com, Steven Kalifowitz, said that “the FIFA world cup is one of the most anticipated sporting occasions in the world, and we are incredibly fascinated to give fans a new way to participate in this epic event. We are excited to partner with Visa in bringing Visa Masters of Movement to life and giving fans the opportunity to create and collect the unique collectibles at FIFA World Cup Qatar 2022 that will live forever on the blockchain.” According to Crypto.com, football followers can bid on the Visa Masters of Movement NFTs starting on 1 November through to 8 November 2022.
According to reports, Visa will donate all auction proceeds to Street Child United, a charitable organization in the United Kingdom, to tackle the universal stigma that street-connected children face globally. Senior vice president and head of sponsorships at Visa, Andrea Fairchild, noted: “We want to celebrate football, technology, and art across the lens of what makes the FIFA world cup so special- wildly impassioned followers, legendary players and for a few short weeks, the capability to bring the world together in a uniquely connected way.” Visa has been an official payment service partner of FIFA since 2007, and one million fans are anticipated to attend the World Cup in Qatar, while five billion viewers are expected to watch the event online.
This project aims to offer fans a chance to learn about advancing technologies like crypto and other digital elements that give people more access to the global economy. Fans will also be opportune to learn about the new ways Visa warrants funds fluctuation worldwide. According to the intellectual property attorney, Mike Kondoudis, who posted a few days before the NFT project announcement, revealed that Visa had filed two trademark applications with Trademark office-related NFT, Metaverse, and the United States Patents. In his Twitter post, Kondoudis said, “Visa has filed two trademark applications claiming plans for:
- Managing Digital, Virtual, and Cryptocurrency transactions
- Digital Currency + Cryptocurrency wallets
- NFTs + Virtual goods
- Providing virtual environments
…and more.”
Benefits of integrating digital assets into global events
Digital assets are competitive for future capital markets and can lead to new opportunities and improve the efficiency of cross-border transactions. These assets are also easy to track, which makes distribution and redistribution easy, offering one means of exchange that includes cheaper and quicker money transactions. The benefits of integrating digital assets are access to goods and services and that it is the primary use that does not require intermediaries. Integrating things like NFTs in global events gives aspects of the event higher visibility and greater awareness, encouraging investment in unique digital assets.
This collaboration aims to give fans a step onto a digital pitch outfitted with tracking technology to transform and capture their iconic movements into digital art. Football is a sport followed by millions of people worldwide, and this project will help store memories for fans and win opportunities from the competition. As the world cup games feature is out, we will keep you updated on new developments regarding this project. Continue to do your research and seek advice from professionals.
Byline: Hannah Parker