FIFA Switches from Algorand to EVM Blockchain
FIFA Collect, the digital platform for trading football-themed NFTs, has announced its migration to a new EVM-compatible blockchain. This move, effective no earlier than May 20th, aims to improve platform performance, scalability, and unlock future features.
Key Changes for FIFA Collect Users
- Blockchain Migration: The platform will transition from Algorand to an EVM-compatible blockchain.
- Wallet Compatibility: Algorand-based wallets (Pera, Defly) will no longer be supported. MetaMask and other EVM-compatible wallets supporting WalletConnect will be used instead.
- Asset Security: FIFA assures users that their existing digital collectibles will remain secure throughout the migration process.
- USDC Balances: USDC balances are spendable until the migration date. After the transition, they can be withdrawn but not spent.
- Collectible Transfer: Listed collectibles will automatically transfer unless users delist them beforehand. Users who have exported collectibles must reimport them before the migration deadline for automatic transfer; otherwise, manual migration with additional verification will be required.
Impact on Algorand (ALGO)
Following the announcement, ALGO, Algorand's native token, experienced a 3% drop to $0.2213 on Binance. This reflects the market's reaction to the loss of a major partner.
FIFA's Algorand Partnership
FIFA's partnership with Algorand, established in May 2022, made Algorand the official blockchain partner. This collaboration focused on transparency, sustainability, and revenue generation through NFTs and blockchain-based solutions. FIFA Collect, initially launched on Algorand, enabled fans to collect digital football moments.
This shift underscores the evolving landscape of blockchain adoption in the NFT space. The move towards EVM compatibility broadens access and integration possibilities for FIFA Collect, potentially attracting a wider audience.
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