FIFA partners with Avalanche to build blockchain & boost Web3 ambitions

FIFA revealed plans to partner with Avalanche to create a specialized Layer 1 blockchain aimed at advancing its Web3 initiatives.

The project will utilize Avalanche’s adaptable technology, previously termed a subnet, to construct a blockchain aligned with FIFA’s objectives.

Aimed at bringing more developers on board to design customized public networks, Avalanche took this step right after the Avalanche9000 mainnet update.

FIFA and Avalanche leverage the Avalanche blockchain’s capability to complete transactions in just 2 seconds, effectively addressing the issue of blockchain scalability.

By maintaining transaction costs at only a few cents, this technical base supports FIFA’s Web3 adoption plan and plays a vital role in engaging millions of football enthusiasts around the globe.

Prior to Thursday’s announcement, FIFA engaged with blockchain in 2022 by launching a collection of NFTs on the Algorand blockchain just before the Qatar World Cup.

Earlier this year, FIFA shared plans to shift its NFT assets onto a blockchain that supports EVM.

Once a hot trend embraced by major companies, the NFT wave has subsided considerably in the aftermath of a prolonged and discouraging crypto bear market.

Despite the fading hype, FIFA’s ongoing investment in blockchain signals that big corporations still find the industry appealing.

“Avalanche is designed for enterprises and organizations looking to build custom, high-performance blockchain solutions,” said John Nahas, chief business officer at Ava Labs, in a press release. “FIFA’s decision to launch its L1 on Avalanche is a testament to our technology’s ability to support global-scale applications with speed, flexibility, and security.”

As soon as FIFA announced its partnership with Avalanche, the market responded positively, driving up the trading volume of the AVAX token.

As of now, FIFA has launched a World Cup NFT and digital collectibles platform but has yet to outline any additional use cases for the blockchain.

This partnership establishes FIFA and Avalanche blockchain as frontrunners in integrating traditional sports into the Web3 space, potentially encouraging more collaborations within the sports sector as blockchain scalability and crypto innovation evolve