“Copa America”, 2021’s South American Soccer cup is the winner’s trophy. It will be minted as a Non-fungible Token (NFT).
Eternity Chain: Minting Copa America Trophy As An NFT
CONMEBOL, the South American Football Federation has recently disclosed that it’s partnering with Ethernity Chain for minting the NFT Copa America. It is South America’s top continental cup and this NFT will be based on the trophy that will be given to the winner of the cup. There are a lot of teams in the continent that take part in this every 4 years to get the title. This year it will mark the 47th time the cup has taken place.
In the finals, Argentina beat perennial rivals Brazil 1-0. They took home the trophy this year. It was the end of a 28-year drought for the country. Also, for Lionel Messi, the Argentine captain it is his first international trophy. Other than this, the South American Football Federation, CONMEBOL, is also planning to mint four other NFTs. Moreover, one of them would be for Lionel Messi, the football legend. Considering the rest of the 3 collectibles, all the finalists will be receiving one. After that, the last collectible will be based on the top goalscorer award. It is called the Goleador trophy.
The NFT Market
Surprisingly in May, the NFT market crashed almost 90%. After such an incident, it hasn’t really recovered much considering its trade volume. There are different opinions from different people. Some believe it was just a bubble while others believe that the NFT market and the technology behind it still have a bright future.
Recently, the crypto market has seen very huge investments such as Fox’s 100 million blockchain business, or Marvel’s NFT store. These are pretty big names and seeing them come into the NFT market, as a matter of fact, gives the vote of confidence in the future of NFTs. With such an extensive adoption of NFTs, no doubt the market will only get better in the future. Examples like the Marvel digital collectibles and the Copa America have proven that these Non-Fungible Tokens have started becoming conventional.
One thing to notice here is that the NFT crash happened at the same time as the crypto crash where Bitcoin’s value fell almost 50%. Currently, Bitcoin can be traded for around $32.5k which is down more than 4% in the past week. Also, over the past month, the crypto’s value seems to be down around 9%. Bitcoin is currently stuck at a range of value in the market and it doesn’t seem to be moving in price much. It is in a downward trend right now. However, its price will increase again soon to $35k as it has happened a lot many times from the last few weeks. This is why we cannot tell when there will be a surge in its price.