From betting projects to fan tokens and NFTs, the Qatar 2022 FIFA World Cup had everything to do with Web3. Fans were bullish on national teams, while crypto projects saw the World Cup Opportunities for innovations and growth in Web3. How does the FIFA World Cup, the biggest soccer event on the planet, affect Web3? What do people in Web3 think about the FIFA World Cup? All of that and more is explained in this article.
Soccer and Web3
While football-themed games are yet to be a thing for Web3 developers, the World Cup opportunities presented by new and existing Web3 projects are worth the hype. There is no doubt that many people in Web3 are die-hard soccer fans, as we have seen in the past from the sales of fan tokens for European football clubs. The hype is not different but revolves around something else this time. Non-fungible tokens allow storing anything of value, such as a file, document, real estate, collectibles, digital art, and other memorabilia on the blockchain. Web3 projects are leveraging the power of NFTs and prediction games to create World Cup opportunities for everyday soccer fans in the crypto space.
Collections like the FIFA Altered State Machine (ASM), the AI prediction game which started alongside the FIFA World Cup, offer rewards like Adidas gift cards, Vivo phones, and gaming setups. Players also stand a chance to win other exciting prizes like team collectibles and football accessories as they progress in the game. FIFA also launched FIFA Plus Collect, the ultimate destination for collectibles showcasing the best moments in the history of the football governing body. Anyone can signup and collect and own an officially licensed piece of FIFA’s 92-year history on the website. Predict and earn projects. Six Sigma Sports runs a predict-to-earn project that combines uses to the scalability of the Cosmos blockchain to create a test play-to-earn game that pays out tokens for successful match predictions of FIFA World Cup matches. Metaverse platform Upland runs a collectible campaign for FIFA-themed NFTs, while Matchday built a FIFA World Cup prediction game on the Solana ecosystem.
What Crypto Folks Think About The FIFA World Cup
As developers think on their feet to come up with the brightest ideas to seize the moment and sell in the hype, traders have mostly been concerned with making the most out of what is being built. Traders on crypto Twitter have been shilling one team or fan token and another, with some of the promoted projects recording a 100+% increase in a short period. Most people believe that the world cup will be a huge thing for the crypto space since the event is viewed by millions of people across the globe, and some of the biggest brands behind the huge event are pro-crypto.
Web3 Benefits of the 2022 FIFA World Cup
Web3 projects have used the World Cup Opportunity to build their audience by appearing in commercials and influencer marketing through top players. At best, these marketing campaigns will bring Web3 to non-mainstream Web3 users, and another bull run may result when they all start embracing the limitless possibilities with Web3.
Growth
As more people become aware of DeFi and excellent projects building the future of finance in the Web3 space, many testers will come in with as little as possible to get a feel of the experience. The rise in the number of people trying out Web3 projects will eventually lead to the retention of a new group of users that will keep exploring and doing more in the space in the long term.
Increased Web3 Adoption
Contests, winners, and marketing promotion will lead to increased adoption of DeFi projects for everyday transactions. As users start using Web3 projects, they will quickly realize how much they are deprived by traditional finance. These users will bring in other users through word of mouth, and the ensuing multiplier effect will be super bullish for DeFi.
Fan Tokens
Fan tokens have already gained significant traction before the FIFA World Cup, so they will mostly be built around an existing audience because lovers of football clubs are also fans of national football teams. The continuity of these tokens may not be seasonal, with the price going up during continental and international events. Still, the number of people who will get into crypto out of a passion for their national teams will be overwhelming.
The Pandora Predict and Win World Cup Program
Pandora, one of the best exchanges on the BNB Chain, is a high-yield decentralized exchange with an elaborate reward system known as the user level, designed to make all user activities count and be rewarded. In the same vain, the exchange threw in a minigame Discord party where users could share a cash reward pool of up to $200 for predicting the right team to win any world cup match. The game was guided by clearly defined rules and lasted until December 18th, 2022.
Conclusion
The World Cup opportunities presented to the DeFi space are numerous. Even though they may not seem too popular at the moment, the aftermath of the world cup will pique the curiosity of the previously less concerned and lead to an overall increase in the number of DeFi users. One major reason for this is the post-FTX collapse sentiment which has caused widespread dissatisfaction with centralized exchanges and applications.
These contents are for general information purposes only. They are not investment advice, a recommendation, or solicitation to buy, sell, or hold any digital asset or engage in any specific trading strategy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the crypto asset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your crypto assets, and you should seek independent advice on your taxation position.
| Stay financially strong with Pandora – your favorite DeFi companion! *Telegram Group DEX: https://t.me/PandoraCommunity *Telegram Channel DEX: https://t.me/PandoraDigitalNews *Telegram Group Launchpad: https://t.me/Pandora_IDO *Telegram Channel Lauchpad: https://t.me/PandoraIDO *Twitter: https://twitter.com/Pandora_DEX *Facebook: https://www.facebook.com/PandoraDigital.DEX/ *Instagram: https://www.instagram.com/pandora_dex/ *Medium: https://medium.com/@pandora_digital *Discord: https://discord.gg/pandoradigital *Reddit: https://www.reddit.com/r/pandoradigital/ *Blog: https://news.pandora.digital/ *Partnership: https://partner.pandora.digital/ *Official Dapp: https://pandora.digital/ |
