With Web3 and blockchain technology, Modex enables new revenue streams and dynamic value generation for football clubs and federations.
FIFA and Modex will launch an exclusive drop of digital collectibles ahead of the highly anticipated FIFA Club World Cup Saudi Arabia 2023™. Fans can anticipate an array collection of moments from the tournament and collectibles tied to physically match used items! Dual Drops are two different drops designed to excite football fans worldwide. Each offers exciting new opportunities, taking the football fan experience to a new Web3 level.
FIFA Chief Business Officer, Romy Gai, said: „We are excited to embark on this transformative journey with Modex and take the FIFA+ Collect platform to new heights. Since launching, the platform has been immensely popular worldwide and fans from all countries now have the opportunity to own a piece of footballing history.”
„FIFA+ Collect is more than just a digital collection of football moments. The collections aim to allow football fans to participate in future series of on and off-chain events designed to bring engagement and excitement.” – the company explains.
Razvan Rat, Modex investor and former captain of Romania’s National Football team, comments on the fans’ perspective: ‘You fuel your passion with money. If I were to make a comparison, spending is like fueling your emotions. Sport sells emotions – no doubt about it.’
A strong paradigm shift in the industry.
Mihai Ivascu (photo) – Modex founder and Board member – shared his thoughts on the financial aspect. ‘What do I do with the merchandising of a club? As a fan, I spend money on a T- shirt or a cap that I wear from time to time, then it sits in a drawer. All the things that fans buy from a particular club they love are just expenses. I would never buy a T-shirt form a rival team, from a rival football club. But if I know they have a phygital (a reinvention of customer experience by bringing together physical and digital experience) limited edition campaign, I might look at it and I might want to be part of that limited run.’
Mihai added: ‘The idea of opening, decentralizing access to collectibles – I think that’s a very strong paradigm shift in the industry; the concept that a club with a massive fanbase can activate international football fans who can be part of their new journey. On FIFA+ Collect we’ll have phygital, limited editions that will come from clubs from all over the world. And the audience is a massive football audience – the football legion has 5 billion adepts globally. The online Marketplace we’ve put together is addressed to all of them.’
‘Starting from local communities and local fanbases, you can have a huge audience interested to see what you’re doing. Until now, you couldn’t have done this with a simple T-shirt or a cap. And I strongly believe that fans want to be part of this journey, also from the investment point of view, not just because they’re passionate about a club‘, concludes the founder of Modex.
Value and revenue for stakeholders.
Antonio Lorenzon – Chief Marketing Officer Modex, believes that keeping things simple and driving value for the industry are two key-elements for success. ‘By owning a digital collection, you’re not a buyer of an asset that expires anymore – like a ticket that’s gone when the match is over. Instead, you invest time, passion, and money into an asset that suddenly becomes tradable. You can keep your collection if you want, or you can trade with someone else on the Marketplace.
Modex’s Chief Marketing Officer also gives an interesting example. ‘For the FIFA Club World Cup Saudi Arabia 2023 in Jeddah, we made two drops on FIFA+ Collect. It was the VIP Card – we put 100 up for sale, each for a price of 1,000 USD. They were sold out in 3 hours. Some of the buyers are currently reselling those cards on the Marketplace. The number 1 card, for instance, guess for how much? 200,000 USD. So, you buy something because you want to be the first one, you have the passion to do it. You can keep it or, at some point, if you want to monetize it, you can do that. And everyone who is linked to that asset benefits from that reselling. While today, in the traditional system, if I have – for example – a membership card or a match-ticket and I would like to transfer/resell it to someone else, neither FIFA, nor clubs, nor federation get anything from that trade. So, we see a significant shift in the way you approach the entire sport industry, as every single stakehol er can generate value and revenue thanks to Web3.0 ecosystem‘, concludes Antonio.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
