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FIFA’s NFTs find instant trading frenzy

fifas-nfts-find-instant-trading-frenzy
Edited by
News
FIFA’s NFTs find instant trading frenzy

The inaugural NFT drop from FIFA+ Collect Club sold out just three hours after release, according to an announcement shared with crypto.news.

The FIFA+ Collect Club, a collaboration between FIFA and technology firm Modex, made digital collectible “membership cards” available on Dec. 12 priced at $999 each. According to Modex, the full allotment of membership cards was purchased within three hours.

In a press release, Modex indicated that as part of the membership program, holders of the sold-out VIP cards will receive what was described as an airdrop on Dec. 26 containing highlights from the FIFA Club World Cup 2023 hosted in Saudi Arabia next year. The statement claims two highlights will come with tickets to the FIFA World Cup 2026 final and FIFA Club World Cup 2025 final, both to be held in the United States.

Building on the rapid sellout, Modex has revealed plans to launch a second set of non-fungible tokens (NFTs) on the OpenSea marketplace and Polygon (MATIC) network on Dec. 19. A total of 900 non-fungible tokens will be released, representing VIP experiences and physical items from the 2023 FIFA Club World Cup according to the press release. Details of exact items or “benefits” associated with each NFT will only be available during purchase.

Among the offerings mentioned are tickets to prestigious FIFA ceremonies and events, autographed memorabilia from the tournament, and limited-edition collectibles like player-signed corner flags and referee kits. The FIFA initiative closely resembles the National Basketball Association’s NBA Top Shot NFT series, which were found to possibly be securities back in February.