Avalanche’s AVAX surges 11% to $25.16 as FIFA launches blockchain on platform

Avalanche’s native token, AVAX, has experienced a significant surge, rising by 11% to reach $25.16. This increase coincides with a broader market rally that has pushed Bitcoin to new highs of over $111,000. However, the rise of AVAX appears to be driven by more than just market sentiment, as recent developments within its ecosystem position the blockchain as a go-to platform for scalable, enterprise-ready solutions.

One of the key developments is FIFA’s official launch of its dedicated Layer-1 blockchain on Avalanche. This new blockchain powers platforms like FIFA Collect, which offers digital collectibles tied to iconic moments in football history and exclusive real-world experiences such as VIP match access. FIFA has partnered with infrastructure provider Modex to build and maintain the blockchain, with Modex overseeing both the backend development and the user-facing marketplace. Modex CEO Francesco Abbate described the initiative as a leap forward for digital fan experiences, highlighting Avalanche’s scalability and ease of integration benefits.

The timing of FIFA’s launch aligns with a wave of institutional interest in Avalanche’s ecosystem. On May 21, asset manager VanEck revealed plans to launch a dedicated fund focused on Avalanche-based projects in June. This new vehicle, named the PurposeBuilt fund, will invest in liquid tokens and venture-backed blockchain ventures spanning AI, payments, gaming, and finance. VanEck also plans to allocate unused capital into tokenized real-world asset markets on Avalanche, helping maintain liquidity while exploring long-term blockchain exposure. Pranav Kanade, a portfolio manager at Avalanche, said, “Avalanche has become a magnet for thoughtful builders, and with the VanEck PurposeBuilt Fund, we’re bringing capital and conviction to the founders creating lasting value, not chasing momentum.”