Simultaneous to the ongoing FIFA World Cup 2022, collaboration has been established by Coca-Cola and Crypto.com with GMUNK for the release of an NFT series based on the worldwide sporting event’s remarkable moments. The NFT collection is named “Piece of Magic” and will be utilizing heatmap data for the non-fungible tokens.
Coca-Cola Joins Crypto.com for a New FIFA World Cup-Inspired Collection of NFTs
Consumers all across the globe will be permitted to access the non-fungible tokens based on the famous heatmaps. As continuous advancement is being witnessed in the Web3 and DeFi world, the collaborations such as this one are being witnessed frequently.
The eligible fans will be allowed to obtain the 10,000 non-fungible tokens as the only requirement would be to get registered on the Fanzone Page of Coca-Cola to claim a Piece of Magic.
At the moment when the crypto industry is going through a collapse, with FTX being the latest contributor, the consequence of releasing such an NFT collection is yet to be seen. The market is witnessing a decreased consumer interest at present. On the 5th of December 2022, Crypto.com declared launching the series as the extraordinary teams contested in Qatar.
GMUNK, the NFT artist responsible for developing the respective NFT collection of 10,000 non-fungible tokens, has signified that each among his NFTs is based on the individual matches’ narrative that is credited for generating the heatmaps.
GMUNK stated in a news release that the NFTs that are being discussed symbolize the football passion as well as develop a unique visual story for each match.
An official from the FIFA World Cup additionally advocated for these NFTs, categorizing them as exclusive and exciting. Nevertheless, Crypto.com presented the project from the perspective of crypto and DeFi technology.
Steven Kalifowitz, Crypto.com’s marketing manager, mentioned that the FIFA World Cup of this year would be the initial to have implementation of Web3 technologies.
Crypto.com Continuously Expands Its Sports Partnerships Despite Market Downturn
The executive expressed gratitude for the platform’s partnership with GMUNK and Coca-Cola for the immortality of amazing matches through blockchain technology.
The series of affiliations made by Crypto.com comprises different sports firms. It takes into account, Formula 1, FANATIC, Twitch Rivals, and E-Sports. Keeping this in view, Crypto.com strongly believes in the marketing of the sports industry.
The current partnership would expectedly augment the market of non-fungible tokens. Nonetheless, the platform did not find every project favorable for it. In September 2022, the company dismissed its contract of up to $495 million with the Union of European Football Association.
The reason behind the respective contract termination was related to the regulatory apprehensions in the case of the European continent.
As a result of the news of this NFT launch, CRO – Crypto.com’s local token – expressed a great upsurge. As per the data given by CoinMarketCap, the CRO token witnessed an increase of more than ten percent following the spread of the respective news.
Nevertheless, a decline of almost five percent has taken place in the recent twenty-four hours after the initial elevation. At the moment, the token is trading at the market of $0.6671.
Notwithstanding the latest positive gains collected by CRO, the token has been down by approximately fifty percent in terms of its value during November. But that slump can be associated with the abrupt collapse of the now-bankrupt crypto exchange of Sam Bankman-Fried – FTX. The respective event severely impacted the whole crypto market.