Colombian swimming federation to award prizes in NFTs formats

The Colombian Swimming Federation (FECNA) becomes the first sports entity in Latin America to deliver trophies and medals in non-fungible token formats.

The FECNA reached an agreement with LEVERADEthe Spanish Sports Management and Monetization software company, which will be in charge of implementing the blockchain technology.

The blockchain that was chosen for the prizes to be stored on will be AVALANCHEThe blockchain chosen for awards to be stored will be the AVALANCHE blockchain, thanks to its high efficiency, low costs and high transaction speed.

The first presentation of these NFTs awards will be at the national interleague diving championship, to be held August 17-21 in Medellin, Colombia.

Subsequently, medals and digital trophies will be awarded to athletes in the national water polo league, which will be held from the 25th to the 28th of the same month in Cali, Colombia. They will have a certificate of authenticity and ownership recorded in the blockchain forever.

The awards in non fungible tokens will give athletes, federations and clubs the possibility to share them easily in different social networks, since the Colombian Swimming Federation knows that young athletes have an important role in digital platforms for interaction with other people. They will be able to show the world their achievements in a much easier and faster way.

The designs will be spectacular, defying the laws of physics and what is possible, they are also a great attraction to draw the attention of the public and the media, amplifying the impact of such awards and being able to grow as an institution to generate that other sports entities are encouraged to make the same technological innovations along with blockchain and NFTs.

In addition to the NFTs awards, the partnership between the Colombian Swimming Federation and LEVERADE will seek to manage athletes, ranking, sports history, event results, mobile application, management and validation of affiliation, management of clubs and leagues, database, management of championships, referee/judging management, integral economic control, among others, all in one place, since LEVERADE unifies everything needed to manage, coordinate, monetize and publish competitions in a simple and integrated platform that is easy to use for all competition categories.

LEVERADE already has several sports entities working together, among them: the French Football Federation, the Royal Spanish Tennis Federation, the Swiss Basketball Federation, the Chilean Lawn Hockey Federation, the Spanish Surfing Federation and many more.

Undoubtedly, this innovation will be seen more and more in sports entities that want to achieve a further step in the fusion between sports and blockchain technology. NFTs are increasingly being integrated into different uses beyond digital art. They can function as certificates and awards endorsed by the most important entities in the world.

Finally, while it was not confirmed what it will look like, officially FECNA revealed that they will be launching a new digital asset. This new asset will also have the collaboration of LEVERADE and AVALANCHE, but it was not yet known whether it will be a utility token, cryptocurrency or other type of asset. The idea is that it will allow FECNA to generate new revenue streams.

Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.