AVAX Soars 10% as Avalanche Will Power FIFA's Blockchain Project

The world’s biggest football organization, FIFA, has picked Avalanche to launch its own blockchain initiative.

Dubbed FIFA Blockchain, it will operate as a Layer-1 network and will deliver digital collectibles and “next-generation fan engagement at a global scale.”

The official announcement, which went live earlier today, added that FIFA Blockchain will aim to streamline operations, optimize user experience, and deliver consistent, interoperable digital products to its fan base of billions of people.

The organization has decided to use blockchain to satisfy the growing needs for verifiable digital ownership and direct engagement between holders and audiences. Unlike traditional systems, blockchain will allow the creators to create purpose-built networks that can “scale efficiently and support meaningful user experiences.”

FIFA decided to tap Avalanche in its blockchain endeavor due to its structure that enables the “deployment of sovereign networks, known as L1s, that are optimized for high throughput, low latency, and full governance control.”

They operate independently but are fully interoperable with the entire Avalanche ecosystem as well as the Ethereum Virtual Machine (EVM) standard.

FIFA Blockchain will be led by a tech company with Web3 experience called Modex. Its CEO, Francesco Abbate, said the move enhances their ability to deliver unique digital collectibles and immersive fan experiences, powered by the speed, scalability, and EVM compatibility.

“FIFA’s selection of Avalanche technology represents a pivotal moment in the evolution of blockchain infrastructure. As one of the world’s most recognized organizations, FIFA’s move underscores Avalanche’s unique ability to support custom, high-performance networks at global scale,” reads the statement.

AVAX’s price reacted to the news as it’s up by over 10% on a daily scale, some of which could of course be liked to the overall market-wide price pumps.