Chinese corporations offer metaverse World Cup viewings, X2Y2 backtracks on royalties, and more.

People have said that a lot of technology companies in China are working on making it possible for Chinese soccer fans to watch the FIFA World Cup in the metaverse.

These initiatives are part of a five-year plan that the Chinese government unveiled at the beginning of November with the intention of enhancing the capabilities of and fostering the growth of the local virtual reality (VR) sector.
According to a report from the state-run media outlet Global Times that was published on November 20, the video streaming platform Migu is one of six Chinese companies that have secured the rights to show the World Cup. Migu plans to create a “Metaverse-like” space that will allow users to watch a livestream of the game while wearing virtual reality headsets.
ByteDance, the company that owns TikTok and its Chinese version, Douyin, has been granted the licencing rights to air the competition. ByteDance’s VR headset subsidiary, Pico, will be offering live broadcasts of the World Cup, and users will have the ability to create and congregate in “digital rooms” to watch the game together.
It looks like China’s virtual reality (VR) business, which is still new, is using the World Cup to test out the technology.
On November 1, an ambitious industrial strategy was pushed by the nation’s Ministry of Industry and Information Technology, together with four other agencies in the country.
Even though China’s five-year plan for 2022–2026 says it wants to improve its virtual reality (VR) industry and ship more than 25 million units worth $48.56 billion, the plan doesn’t say if this goal is for each year or for the whole plan.
The plans don’t say anything about whether or not the metaverse would use blockchain technology, like the city of Wuhan’s proposal, which was later changed to remove any mention of non-fungible coins (NFTs).
X2Y2 reduces the amount of the optional royalties. NFT marketplace X2Y2 has recanted its opt-in royalties policy and said in a Twitter thread dated November 18 that it would once again impose creator royalties on all current and future collections.
In August, the marketplace was one of the first to implement alternative royalties. At that time, it transitioned to a system known as “flexible royalty,” which enables purchasers to choose the amount of the royalty that they would pay.
The NFT community responded to it in a variety of different ways.

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Budweiser Releases Virtual Scoreboard NFTs Ahead of World Cup in Qatar

Multinational beer company Budweiser and the international football governing body FIFA have created an intriguing method for football fans to experience the world cup, with the introduction of the “Budverse x FIFA World Cup.”

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Budweiser disclosed the development in a recent tweet that a digital scoreboard will be present at the Budverse x FIFA World Cup. The NFTs are now accessible and may be bought and minted at Budweiser.com/nft through December 18.

Budweiser and World’s football governing body have been partners for more than 30 years, and the launching of the NFTs extends that relationship.

Similarly, with the use of NFTs, holders can choose a favorite team competing in the world cup, act as that team, and watch that team’s progress in real-time.

It is worth mentioning that the NFTs also automatically grant owners special access to premium packages that encompass a Budweiser football marching uniform and the opportunity to win a 360 Pass Experience. The 360 Pass Experience winner will receive special treatment for the decisive game in Doha.

The beer company is no new to the realm of NFTs, as evidenced by the “Royal Series” and “Budverse Can Heritage Edition” features it has on OpenSea.

FIFA Promotes Collaborative Merger with Crypto Companies

The fact that some cryptocurrency companies have utilized sports as a significant platform to propagate their message is no longer news, therefore the forthcoming world cup, which has a sizable fanbase following, will prominently feature varied crypto-related events.

Even though trading cryptocurrencies are technically prohibited in Qatar, the location of the world’s biggest athletic event, which is scheduled to begin in a few weeks, has an intriguing alliance with several cryptocurrency companies.

Back in May, FIFA teamed up with Algorand to be its authorized blockchain partner. FIFA’s dedication to investigating cutting-edge avenues for steady revenue growth was demonstrated by the cooperation. FIFA’s delving into the blockchain industry was formally marked by the collaboration.

FIFA launched FIFA+ Collect in advance of the World Cup following their agreement with Algorand. Built on the Algorand blockchain, the NFT collection will record memorable moments from the competition.

Furthermore, FIFA selected crypto.com as its official exchange for the Mundial, enabling the exchange’s branding to be seen both inside and outside the stadiums during the competition.

Image source: Shutterstock

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FIFA Launches Digital Collectibles Platform in Collaboration With Algorand

The global sports governing body of football, FIFA has launched a virtual assets platform dubbed FIFA+ Collect in partnership with Algorand Blockchain.

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According to the announcement, FIFA is taking the new development to democratize the accessibility of its fans to the captured moments of the “FIFA World Cup™ and FIFA Women’s World Cup™” in virtual form.

 

FIFA+ Collect digital assets platform will enable fans to revel in spectacular moments during the FIFA games. According to the announcement, assets on the platform will be “affordable, inclusive and accessible” to all lovers of FIFA football.

The said virtual assets platform will be launching later in September, and every plan to ensure its safe launching has been put in place.

This new feat confirms the ideology of FIFA to always embrace new technologies in ensuring that its fans are duly entertained.

Speaking on the new development, the Chief Business Officer of FIFA, Romy Gai said that the football governing body is excited to launch its first technological initiative with Algorand, noting that football fans will be able to own affordable “digital collectibles” on its platform. 

He added that “this is an accessible opportunity for fans around the world to engage with their favorite players, moments, and more on new platforms.” 

The CEO of Algorand, W. Sean Ford noted that the determination of FIFA to embrace Web3 technology is proof of “their innovative spirit”.

FIFA announced its partnership with Algorand in March of this year. The blockchain platform serves clients and users across commercial industries, government parastatals, and technology-driven organizations. 

Algorand delivers services on the blockchain network that is known to be cheap and very fast, making it deserve all the recommendations and patronage that it enjoys.

This is not the only affiliation that FIFA has with a virtual assets service provider. The worldwide football governing body had in March announced its official sponsor for the FIFA World Cup Qatar 2022™  to be Crypto.com, a cryptocurrency exchange company.

Crypto.com’s sponsorship of the usually nostalgic football season will facilitate the adoption of new technologies, most especially cryptocurrencies on a global scale.

Image source: Shutterstock

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Algorand to Lead FIFA’s Digital Strategy in New World Cup Partnership

Algorand protocol has been unveiled as the official blockchain sponsor of the Federation Internationale de Football Association (FIFA).

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The partnership between the blockchain startup and the world’s football governing body was unveiled on Monday by FIFA President Gianni Infantino and Algorand founder Silvio Micali in Los Angeles, USA.

The partnership has effectively positioned Algorand as the FIFA World Cup Qatar 2022™ Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023™ Official Sponsor. Algorand will help in developing the digital strategy for FIFA and provide the body’s official blockchain-supported wallet solution.

“We are delighted to announce this partnership with Algorand. The collaboration is a clear indication of FIFA’s commitment to continually seeking innovative channels for sustainable revenue growth for further reinvestment back into football ensuring transparency to our stakeholders and worldwide football fans” said FIFA President Gianni Infantino.

The partnership will provide media publicity for Algorand who will also take up advertisement slots as well as utilize promotional opportunities to make the move a mutually beneficial one. In addition to the digital wallet, Algorand will also help facilitate the movement of Non-Fungible Tokens (NFTs) that may be produced during the forthcoming tournament in Qatar.

While the length and monetary valuation of the partnership remain undisclosed, Algorand will come off as the latest crypto-based startup that has inked a functional partnership with FIFA ahead of the Qatar World Cup. In a related move, FIFA has named Crypto.com as its official exchange partner.

The close interactions between blockchain entities and sports outfits are growing at a fast pace with Crypto.com officially sponsoring Formula 1 outfit, Aston Martin as reported by Blockchain.News back in March 2021.

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