Visa launches its NFT collection for Qatar 2022
The growing popularity of blockchain technology driving the development of new projects based on digital assets as a new trend worldwide.
On this occasion, we tell you about the new NFT collection that Visa launched for Qatar 2022.
The cutting edge of NFTs
Among the latest trends that are constantly changing, and launching new projects, NFT assets are undoubtedly the first that can be described in the world of technology.
Nowadays, the non-fungible characteristics of NFTs have taken a big boost for the development of new projects, as they propose a new business model whose financial operations are similar to cryptocurrencies.
NFTs maintain a close relationship with cryptocurrencies, as both are based on the use of blockchain technology to carry out transactions.
An NFT is a digital asset, whose value is established in relation to the market capitalization. NFT stands for non-fungible token, which means that these assets are based on a single element that cannot be duplicated.
A clear example of an NFT asset can be a work of art. In the world there is only one original and concrete work, while the others are just imitations. NFT assets ensure the originality of the digital form of a work, whether it be art, music, multimeday, among others.
How NFTs work
At the end of the year 2020 and the beginning of 2021, the use of NFTs has taken a great boost within the digital world, as a new type of asset whose appeal is thanks to the functionalities of the information technology. Blockchain.
In this sense, to understand why NFTs are so popular, it is first necessary to understand what non-expendable assets are.
Currently, there are expendable goods and non-expendable goods. Fungible goods are oriented to those that can be exchanged, whose value is based on their number, measure or weight. On the other hand, non-fungible assets are those that cannot be duplicated.
We can give an example when seeing a work of art, this would be a non-fungible object since its equivalent is not equivalent to the value of another work, but remains with its own value.
Non-fungible are generally based on the standard blockchain of Ethereum, being one of the most popular and easy-to-operate chains for purchases and sales. However, today the implementation of NFT assets has spread to other popular blockchains.
Why choose NFT assets?
Today there is a long list of reasons why NFT assets are so popular in the market. One of the main ones is the relationship they have with the implementation of the features of Blockchain for security, transparency and cost reduction per transaction.
Among other characteristics of NFTs we can name:
NFT assets are unique, thanks to the use of their metadata and smart contract, users are able to ensure the authenticity and uniqueness of each of the assets.
Another popular feature of NFTs is that these assets cannot be divided. Users can only buy a complete unit of an asset, unlike cryptocurrencies, with which you can buy a small part according to the exchange rate of the day.
Assets in NFT are not popular only for their security features, but also because they are unique, scarce and rare.. These assets can only be registered once within a blockchain network, so it is impossible to register the same asset again.
Visa bets on NFTs
Staying at the forefront of technology is important for organizations to ensure the proper functioning and attractiveness of their services.
That is why Visa bets on digital platforms to develop a collection of NFT assets for the Qatar 2022 World Cup. In association with crypto.com, the financial platform plans to launch the NFTs called NFT Visa Master of Movement, a collection with the five historical goals of the World Cup.
Visa launches its NFT collection for Qatar 2022
There is no doubt that Visa seeks to stay at the forefront of innovation and technology, which is why it announced the launch of its NFT assets under the name Visa Master of Movement, which plans to be auctioned in a virtual and physical hybrid experience prior to the start of the World Cup.
According to Visa, the project is developed with the intention of reactive immersive experiences for users who enjoy the Qatar 2022 World Cup, as well as the digital assets that will be available on Crypto.com. In addition, the financial platform promises to carry out an interactive experience at the festival in Doha, Qatar.
In this regard, Andrea Fairchild, senior vice president and director of sponsorships at Visa, stated that as the Qatar 2022 World Cup approaches, the organization seeks to celebrate an alliance between soccer, art and technology, thus creating a unique experience for fans, athletes and users who intend to be part of the Qatar 2022 experience.
How can I buy a Qatar 2022 NFT?
So far, it is known that on November 8 they will be available on the Crypto.com auction platform, where users will be able to bid to acquire some of the works inspired by the most iconic goals of the FIFA World Cup and the FIFA Women’s World Cup.
The project promises to have a large number of investors willing to acquire some of these assets, with legendary stars such as Maxi Rodríguez, Michael Owen, Carli Lloyd, among others.
This is not the first time that the Qatar World Cup seeks to create a collaboration with the virtual world to create a new experience based on technology and innovation.
Another purpose of Visa is to create a tracking system for players on the field, capable of tracking player movement, ball position, passing and other important aspects of the game.
In this way, fans will be able to create their own NFT assets and auction them within the Crypto.com platform.
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