FIFA World Cup 2022 will soon occur in Qatar from November 20 – December 18, 2022.
This world cup will be even more special because it could be the last appearance of the rivalry between world soccer star Cristiano Ronaldo and Lionel Messi before they retire.
Another notable thing is the inclusion of blockchain and web3 elements. According to data from Bloomberg, crypto asset companies committed more than $2.4 billion to sports marketing in the last 18 months. As the 2022 FIFA World Cup draws near, NFT and web3 are sure if wants to capitalize on this momentum.
Earlier this year, cryptocurrency exchange platform Crypto.com was selected as one of the main sponsors for the event, potentially exposing the platform to a global audience of five billion users. Visa will also facilitate transactions for Crypto.com debit cards.
World Cup Web3 Version of OKX
In this World Cup, OKX is also participating by presenting the FIFA Fan Festival, which will provide a pool of over $3 million in prize money in tokens, limited edition NFTs, and exclusive experiences.
This FIFA Fan Festival started on November 8, and fans can score up to three free NFTs corresponding to the team of their choice. Although they have to stake 10 USDT per NFT, it will be fully refunded once the tournament ends.
NFT holders will split a prize pool of 20,000 USDT each time their respective teams advance through the group stage. Likewise, the prize pool for each eliminated team will be transferred to the team that beat them.
Fans also have a chance to hone their trading skills against each other in the OKX Football Cup Trading competition 2022.
OKX is also offering staking deals for fan tokens Manchester City ($CITY), Portugal ($POR), Argentina ($ARG), and Flamengo ($MENGO) in the Earn Super Hatrick event.
Blockchain Project at the World Cup
Another project well-positioned to benefit from exposure at the FIFA World Cup is Algorand, which was selected as FIFA’s official blockchain partner in May.
In announcing the original partnership, FIFA praised Algorand by calling it “founded by Turing Award-winning cryptographer Silvio Micali” and a “green blockchain.”
As part of the partnership, Algorand will provide an official blockchain-powered wallet solution for FIFA and assist the organization in developing its digital asset strategy.
Binance and Visa Get Involved
Binance, the largest cryptocurrency exchange, took a step forward from the highly anticipated event. BeInCrypto reports that it launched a smart contract for its token fan index.
Visa is also getting in on the action by releasing five football-themed NFTs in partnership with Crypto.com. The digital payments company will auction five NFTs featuring World Cup goals from Jared Borgetti (Mexico), Tim Cahill (Australia), Carli Lloyd (USA), Michael Owen (England), and Maxi Rodríguez (Argentina).
Meanwhile, the famous fan token platform Socios added Argentina Football to help drive Web3 fan engagement.
By looking at this involvement, there is an opportunity for crypto, blockchain, and Web3 to gain high exposure and increase their adoption in society.
Evidence that the upcoming World Cup could impact the global adoption of crypto assets can be found in the increase in adoption after the last World Cup in Russia. Meanwhile, data from Chainalysis shows that cryptocurrency adoption in the Middle East will surpass all other geographic areas by 2022, with the United Arab Emirates now looking to establish itself as a global hub for cryptocurrencies.
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