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FIFA has announced plans to step into Web3 with its own EVM-compatible blockchain, signaling a shift in sports technology.
Blockchain technology stands out as a key element in revolutionizing the next wave of the digital economy and its diverse sectors. Considering gaming and sports, blockchain technology has proven itself significant in ensuring data safety and transparency for players.
FIFA, the international body for association football(soccer), has announced its plans to have its own Ethereum Virtual Machine (EVM)- compatible blockchain named FIFA Blockchain. According to the official website, the organization expects a migration of its collectibles platform, FIFA Collect, to this new blockchain network.
The new network will facilitate web3 incorporation, such as gaming, NFTS, and fan tokens. This development will allow FIFA to have full control of the user experience and minimize reliance on third-party service providers, thus cutting costs. Additionally, the organization will get a chance to participate in the growing Web3 ecosystem and advance blockchain adoption.
