FIFA President Gianni Infantino announced the possibility of the organization developing its own cryptocurrency during the White House crypto summit.
Infantino's Speech at the Summit
Last week, FIFA President Gianni Infantino floated the idea of creating a cryptocurrency token at a summit convened by U.S. President Donald Trump. Infantino expressed FIFA's interest in developing a 'FIFA coin' to attract 5 billion football fans.
Potential Technological Development
While specific details and timelines of the potential token remain vague, Infantino's statements suggest that FIFA is exploring the potential of blockchain technology for fan engagement and revenue generation.
Cryptocurrency Market Impact
Following Infantino's statement, market speculation led to a surge in the unrelated 'FIFA' token, which saw a 357,000% price increase, reaching a market cap of $8.2 million.
FIFA's exploration of blockchain technology could significantly alter fan engagement and impact the organization's economic strategies.
