FIFA is building an EVM blockchain to launch its NFT platform

The world football governing body, FIFA, is building an EVM blockchain. According to reports, FIFA is teaming up with high-performance blockchain platform Avalanche AVAX $21.65 24h volatility: 2.4% Market cap: $9.03 B Vol. 24h: $343.15 M to develop a custom digital network. This partnership aims to strengthen FIFA’s presence in Web3 and pursue digital collectibles.

The world football governing body, FIFA, is building an EVM blockchain. According to reports, FIFA is teaming up with high-performance blockchain platform Avalanche to develop a custom digital network.

The partnership will see FIFA integrating Avalanche’s technology to create an EVM blockchain, which will serve as the new home for FIFA Collect. The platform, known as the FIFA Blockchain, is being developed as part of the digital collectibles initiative.

Previously, FIFA Collect was hosted on Algorand and Polygon. However, the new direction means support for those platforms will end as FIFA transitions entirely to its new network.

It is worth noting that the move follows FIFA’s April announcement of plans to move its NFT platform to a new EVM-compatible blockchain. According to the update, the shift aims to support future fan engagement products and improve overall performance.

According to the official update on May 22, the FIFA Blockchain will offer improved speed, scalability, and security. These features are expected to enhance the user experience for FIFA’s large global audience, which is said to include over five billion fans.

Francesco Abbate, the CEO of FIFA Collect and Modex, the body’s Web3 partner, said the new setup will make it easier for users to access collectibles using popular wallets.

He also explained that the Avalanche-supported system is better suited for future digital expansions, suggesting that the structure is being built to last.

At the time of the announcement, Avalanche’s native coin, AVAX, gained 10.49% in value, reaching $24.92. The rally came as broader market trends also moved upwards, boosting interest in Web3 assets.

Avalanche, which has been upgrading its Layer 1 network, will provide the infrastructure for FIFA’s EVM blockchain. The new platform will allow developers to launch projects faster and at lower costs.

A recent upgrade on Avalanche, known as Avalanche9000, was introduced to make it easier and cheaper for developers to set up on the network. Based on general perception, this may have played a role in FIFA’s decision to move its digital projects there.

In a related report, Avalanche recently recorded a 5-month high in NFT sales. The increase in activity saw Avalanche move ahead of 15 major NFT networks, including Bitcoin, Ethereum, and Polygon.

In addition to moving FIFA Collect to its blockchain, FIFA has not ruled out the possibility of further developments. It stated that while FIFA Collect will launch first, other digital products may follow, though no official timeline has been confirmed.

The partnership also helps strengthen Avalanche’s reputation as a network with practical use. Notably, a day before FIFA’s announcement, investment firm VanEck launched a fund to support blockchain projects built on Avalanche.

In addition, an earlier filing also shows VanEck registered the Avalanche ETF in Delaware.