FIFA is developing its own cryptocurrency token

Football has been a fertile ground for cryptocurrencies for years now: it is not surprising, therefore, that the President of FIFA, Gianni Infantino, has suggested the development of their own crypto token.

The President of FIFA, Gianni Infantino, has suggested the development of their own crypto token.

This was revealed by Infantino himself at the Crypto Summit held on Friday at the White House in the presence of President Trump.

There is an ongoing campaign in the USA to promote soccer (especially European soccer) and the next World Cup will be organized next year right in the USA, together with Canada and Mexico.

At the White House, Infantino was present for the establishment of a Task Force for the FIFA World Cup 2026, and he held a press conference together with Trump himself.

After the press conference with Infantino, Trump took part in the Crypto Summit, and Infantino followed him.

This is where Infantino hinted at the idea of creating a FIFA crypto token.

“FIFA is very, very interested in developing a FIFA coin, to do it from here, from America, and to win over the 5 billion soccer fans in the world. If there is anyone here who is interested in collaborating with FIFA, here we are, together with the United States of America, and we will conquer the soccer world with the FIFA coin”.

Unfortunately, in the crypto markets, several fake FIFA coin tokens have already been launched, and it is therefore necessary to specify that the real FIFA coin has not yet been launched. All those already present in the crypto markets with this name are fake.

Football and crypto: FIFA could make an entrance with the launch of a token

FIFA coin not only does not exist yet, but its development has yet to begin. Therefore, it is not even possible to speculate on the timeline for its arrival on the markets.

But the crypto markets are already full of tokens linked to football.

In the category of the so-called fan-token, there are indeed many dedicated to important football teams.

Paradoxically, the one with the largest capitalization is not that of Barcelona, second in this ranking with just over 16 million dollars, but that of the Brazilian team Santos, with just over 16.2 million.

In the top 10, we also find that of Paris Saint-Germain, Lazio, Porto, and Juventus, and slightly lower that of Manchester City, Roma, Atletico Madrid, Galatasaray, Milan, and Inter. They are almost all European teams, except for Santos and the Turkish Galatasaray.

It is worth noting, however, that their price has literally collapsed from the highs of 2021.

For example, the fan-token of Santos is at -92%, while that of Barcellona is even at -98%. Their losses from the ATH are all between 90% and 98%, and this is because in 2021 their prices were inflated by a true and proper large speculative bubble.

Moreover, they are not doing well even in the last month, with declines ranging from 10% to 17%, but with three exceptions: Santos, which does not lose anything compared to thirty days ago, Barcelona, which gains 15%, and Juventus, which gains 4%.

Tether and Juventus

One of the most sensational news items of recent times in the crypto sector is the acquisition of Juventus shares by Tether.

In fact, the company that issues and manages USDT has now become the single largest shareholder of the Italian team, with more than 5% of shares scooped up on the market.

Tether in recent years has earned billions of dollars thanks to the high yields of US government bonds, and Juventus on the stock exchange capitalizes only 1.2 billion euros.

Note that two of the prominent figures of Tether, the CEO Paolo Ardoino and the president Giancarlo Devasini, are fans of Juventus, and Devasini is also from Turin like the black and white team.

In light of all this, in the end, the substantial entry of Tether into the capital of the company Juventus FC is not even that surprising.

The USA and crypto

With the Trump presidency, the USA is on the way to becoming the global center of the crypto sector.

FIFA has become fully aware of it, and since in the football sector cryptocurrencies are so popular, it is inevitable that they have thought of creating their own token.

As President Infantino, who is Swiss but holds Italian citizenship, said, the USA could be the ideal place to create a crypto token, and given how things are developing at this point, it is definitely possible that FIFA will follow through with this project.

However, the federation needs to find a technical partner, and probably also a financial partner, for this project, but Infantino’s appeal on Friday will hardly go unnoticed.

In fact, even Tether itself