It is arguably the biggest sporting event in the world after the Olympics, and this month's FIFA World Cup is also expected to be unprecedented in launching crypto into the mainstream.
One reason is because of the industry's prominence among the event's sponsors. Earlier this year, the World Cup organizers chose cryptocurrency platform Crypto.com as one of the main sponsors of the event. It will give the exchange exposure to an estimated audience of five billion viewers when the event kicks off on November 20.
The platform has been one of the most successful in obtaining promotional agreements, through the production of commercials and obtaining the naming rights of the arena. These have been instrumental, not only in keeping the brand up, but also in providing broader exposure to cryptocurrencies in general.
Visa is the latest TradFi company to adopt NFT
Visa, one of the main sponsors of the world football association FIFA, is also collaborating with Crypto.com to raise awareness of the event. The payments company is auctioning off five non-fungible tokens (NFTs) that feature notable goals from different countries in past World Cups. The auction is open through Nov. 8 and proceeds will go to charity, Visa said.
In addition to these NFTs, Visa will also give fans the opportunity to create their own during the event. Fans attending the World Cup can take part in four-minute six-on-six matches that take place at the FIFA Fan Festival.
The interactive playing field will capture your movements and create unique GIFs in the colors of your favorite national team. Players can then choose to receive their GIF as NFTs through a Crypto.com account.
Meanwhile, the use of cryptocurrencies has also dramatically accelerated in the region that will host the next World Cup.
Cryptocurrency adoption has grown faster in the Middle East over the past year than anywhere else, according to Chainalysis. Much of this has been stimulated by investments in the United Arab Emirates, a Gulf country neighboring Qatar.
With the establishment of regional headquarters by some of the world's largest crypto companies, the UAE is positioning itself as a global hub for cryptocurrencies.
Football Tokens Surging World in Anticipation
As the World Cup approaches, cryptocurrencies associated with the sport have also been on the rise. The most notable has been Chiliz (CHZ), the token behind Socios.com, which has been associated with many major soccer clubs. In the last two weeks, the price of CHZ has risen almost 43%, according to CoinGecko.
This year's World Cup could also be the last to feature two of the biggest players in the sport. Lionel Messi and Cristiano Ronaldo are in their mid to late thirties, the end of the best playing years for professionals.
Still, their participation has spurred interest in the fan tokens of their respective national teams, Argentina and Portugal. Both ARG and POR fan tokens have risen nearly 50% in the last two weeks.
