El Salvador Approves Bitcoin Bond, FIFA Launches NFT Collection Amid 2023 Club World Cup

Here are some of the major developments from the world of crypto over the past few days
FIFA Launches NFT Collection Amid 2023 Club World Cup
FIFA Launches NFT Collection Amid 2023 Club World Cup

El Salvador’s long-anticipated Bitcoin bonds, also known as ‘Volcano Bonds’, have received regulatory approval from the country’s Digital Assets Commission for a launch in early 2024. The bond will be issued on the Bitfinex Securities Platform, a trading site for Blockchain-based equities and bonds registered in El Salvador, according to Cointelegraph.

El Salvador President Nayib Bukele, who is known for his pro-Bitcoin views, also confirmed the news in a post of his own. “Wen volcano bond,” he wrote, while also reposting several posts noting that the bonds will be issued in Q1 2024.

The possibility of El Salvador issuing the Volcano Bonds first came in November 2021. El Salvador first passed the landmark legislation providing the legal framework for the Bitcoin-backed bond on January 11, 2022. The Volcano Bond is intended to pay down sovereign debt and fund the construction of El Salvador’s proposed ‘Bitcoin City’.

FIFA Launches NFT Collection Amid 2023 Club World Cup

The Fédération Internationale de Football Association (FIFA), the international governing body of association football, will launch its own non-fungible token (NFT) collection ahead of the 2023 Club World Cup in Saudi Arabia in collaboration with Blockchain firm Modex. The NFTs will be available on FIFA’s namesake platform, FIFA+ Collect.

According to an announcement on December 11, 2023, an inaugural collection of 100 NFTs will premiere on December, 15, 2023. In addition, a total of 900 other digital collectibles will be issued on the Polygon network and OpenSea this month, comprising memorable moments from the ongoing tournament and digital versions of memorabilia, according to Cointelegraph.

“Scheduled to kick off in Jeddah, Saudi Arabia on December 12, 2023, the FIFA Club World Cup brings together seven of the world’s greatest football teams. The champions of FIFA’s six confederations are all participating,” FIFA said in a message.

Enjin Migrates Over 2,00M NFTs From Ethereum To Its Blockchain

NFT platform Enjin recently migrated over 200 million NFTs from Ethereum and a sidechain to its own Enjin Blockchain. Enjin announced in a release that over 118 million NFTs hosted on Ethereum, along with over 101 million NFTs hosted in an Ethereum sidechain called JumpNet, have been transferred to its mainnet called the Enjin Blockchain.

Enjin had previously announced the creation of its own Blockchain in June 2023. Enjin said the new network embedded NFT-focused features such as NFT transfers and royalty enforcement into the Blockchain’s foundational code. With the transition, users will experience several changes, such as the built-in royalties and a new feature called “Fuel Tanks,” which lets developers subsidise gas fees for users.

According to the announcement, the platform will use this feature to give users free transactions across its ecosystem for three months.

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