FIFA, Formula 1 Set to Launch NFT Projects

Rise in Adoption of NFTs in Sports Content.

Soccer's global governing body has launched FIFA+ Collect, an NFT platform for soccer-themed digital collectibles while Artema LABS and Motorsport Multiverse announced three series of NFTs on Formula 1 racing.

Increasing adoption of NFTs in the sports content marketplace is allowing fans to own licensed digital media of their favorite sports collections and moments.

FIFA announced this month’s launch of the NFT platform FIFA+ Collect on its blockchain partner Algorand. Football fans worldwide will be able to purchase unique digital collectibles - including game moments, as well as art and imagery from the FIFA World Cup and FIFA Women's World Cup.

"Fandom is changing and football fans around the world engage with the game in new and exciting ways. This exciting announcement makes FIFA collectibles available to any football fan, democratizing the ability to own a part of the FIFA World Cup," said FIFA Chief Business Officer Romy Gai.

Artema LABS has partnered with Motorsport Multiverse to release digital collectibles based on Formula 1 cars and drivers. Three series of NFT collections will go live later this month: Motorsport Moments, Motorsport Cards, and the Nigel Mansell collection.

Madhu Vijayan, CEO of Artema LABS, calls the NFTs an interactive, immersive 3-D engineered digital product that represents faithful replications of the vehicles and gear used by the racers, or the Moments series, which incorporates NFT videos.

The scope of NFTs in sports has grown with new revenue streams and user adoption. According to a Deloitte study, over 4 million sports fans globally will have purchased or been gifted an NFT sports collectible by the end of 2022.