FIFA migrates from Algorand to new EVM-compatible blockchain for NFTs
FIFA outlines seamless transition to improve the security of digital collective objects and future possibilities on new blockchain.
FIFA Collect, a digital platform made by the Fédération Internationale de Football Association (FIFA) with which football fans can collect, trades and enjoy digital collecting objects with iconic moments from football history, which is announced today that it will migrate its NFT platform to a new EVM-Compatibele-Blockchain.
The transition, planned not to start earlier than May 20, aims to support improved performance, future functions and improved scalability for the ecosystem of the digital collecting objects of the platform.
According to FIFA, this change has no influence on the access of users to their accounts or existing digital collective objects. All assets remain completely safe and accessible and after the migration process.
The upgrade makes changes to the compatibility of the wallet, with portfolios based on algorand such as PERA and no longer supported after migration. Instead, users will be able to connect with the help of Metamask or other EVM-compatible portfolios that support WalletConnect.
“The FIFA -Blockchain was founded to support new experiences, make the compatibility of wallet possible and to provide a stronger basis for future innovation,” FIFA stated in his migration FAQ document.
Users who have exported collector’s objects must re -import before the migration date to ensure inclusion in the automatic transfer process. After the closing date, manual migrations require extra verification.
USDC -Saldi remain available for expenditure to the migration date and can be withdrawn, but not issued, after the transition. Stated collection objects are automatically transferred to the new platform, unless users remove them before the migration.
FIFA’s annual collaboration with Algorand
In May 2022, FIFA announced a strategic collaboration with Algorand, and called it the official blockchain partner of the organization. As part of the agreement, Algorand offered a blockchain-supported wallet solution and played a key role in shaping the FIFA digital asset strategy.
Thanks to this collaboration, FIFA blockchain-driven innovations such as non-fungal tokens (NFTs) and digital portfolios, with a focus on transparency, sustainability and revenue growth.
The partnership led to the launch of FIFA collection later in 2022. Driven by Algorand, the NFT platform enables fans to collect iconic football moments and to go into digital form.
Algo, the indigenous active of Algorand, fell after the news by 3% to $ 0.2213 on Binance.
Credit : cryptonews.net
