Sirwin
Sirwin
Algo WC

Algorand World Cup Pump?

By 8bitb4rt | Algorand Ecosystem | 8 Aug 2022


Algorand is a proof-of stake blockchain created in 2017 by MIT professor Silvio Micali. Seriously, click on this link and read about Mr. Micali, he is one of the smartest people in the room. Algorand or Algo is carbon negative blockchain that runs on a pure proof of stake consensus mechanism. It has very small fees and is extremally fast from my experience. Algo’s official wallet is pera wallet, it has slick UI and is pretty user friendly compared to other wallets I’ve used. 

FIFA, is the international governing body of association football that hosts the World Cup and various other international football tournaments. Football, futbol, Calcio, or Soccer is the most popular cultural phenomenon on the planet. About 3.5 billion people consider themselves football fans. That’s about a billion more than follow any one religion on our planet. Football is humanity’s greatest common denominator.  

In May 2022, FIFA announced an official technical partnership with Algorand to develop a crypto presence via marketing, NFTs, and an official FIFA supported wallet. To be honest, this is an ambiguous announcement, what could it mean. Let me speculate on the Algo use cases for FIFA. 

 

  1. NFT tickets- ticket legitimacy was a huge problem at last year's Champions league final. It caused game postponement and general uproar during the match. FIFA could guarantee authenticity through blockchain technology. 
  1. NFT cards- if you are like me, you have a soft spot for world cup sticker books. It is so cool to trade with your friends and try to collect your favorite players. A digitized version of this could create a vibrant NFT ecosystem for events. 
  1. Video Games- FIFA and EA have ended their partnership after 20 years and an estimated 20 billion in sales of the FIFA video game. FIFA 23 will be the last officially licensed football video game released by EA for the time being. Naturally, FIFA wants to investigate the possibility of releasing their own video game. If Algo is involved in any capacity, this will be a huge boon to the ecosystem. 
  1. Marketplace - It would be easy to implement a marketplace for all the NFTs listed above. 
  1. Payments/Cross Border payments- It's easy to forget that thousands of people will be gathering in a country none of them have ever been before. Will they want to receive payment in Qutari riyal, or something like USDC on Algo or even Algo itself? 

 

Price Action? 

Algo is currently sitting at 0.37 USD, it is enjoying a nice past month of upward momentum.  I'm not saying it will jump to its ATH @ 3.56USD, but it is VERY difficult to come up with reasons why the FIFA World Cup won't have positive price impact on the coin. I'll go out on a limb and speculate a 1.15 USD price for World Cup heights. It should be noted that ALGO has completed its accelerated vesting schedule so now there are a little more than 6 billion Algos in circulation and a total cap of 10 billion that will be released over the next 8 years until 2030. TLDR, going forward, Algorand should enjoy a favorable inflation rate and the supply cap is great for tokenomics. 


Thank you for reading my post, if you enjoyed this content, consider checking out my website. It contains various links to referral bonuses and side projects.  

8bitb4rt.crypto 

As always, tip yourself big. 

 

 

 

 

 

 

 

 

 

 

 

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8bitb4rt
8bitb4rt

I'm interested in crypto and football. Check out my website for referral links and info on my other projects. https://ipfs.io/ipfs/QmNfGncUae6MycrsWrWXpcyfKmmkXHVZcKANyQKbRvKb88


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