FIFA Collect NFT Platform Will Dump Algorand for Its Own Chain
Summary
FIFA Collect will migrate to its own Ethereum Virtual Machine (EVM) compatible blockchain, leaving Algorand. The migration is scheduled for no sooner than May 20 and does not require immediate action from users. The upgrade aims to enhance performance, scalability, and future features. FIFA Collect, launched in 2022, initially used Algorand for minting digital collectibles but has also minted on Polygon. Post-migration, support for Algorand wallets will cease, requiring users to switch to EVM-compatible wallets like MetaMask. Users must re-import previously exported NFTs before May 20 for seamless migration. Algorand's native ALGO token has dropped 5.5% recently, significantly down from its 2019 peak.
