Here's your weekly review on what happened at the intersection of NFTs and Sports:
- 🏈 NFL and Ticketmaster drop NFT tickets
- ⛔ Barça suspends NFT partnership after two weeks
- ⚽ Peninsula Soccer sells pitch, The Football Club launches & works with Kickz.com
Let's have a closer look! 👀
🏈 NFL and Ticketmaster drop NFT tickets
The NFL has not only announced a partnership with Dapper Labs recently, they also have introduced commemorative ticket NFTs together with their partner Ticketmaster. Fans who buy certain tickets and "who are scanned into the game using a Ticketmaster SafeTix ticket that they purchased on their own account can obtain their NFT via a link sent to their registered email address after the game." It was introduced on November 7 when the Cardinals played the 49ers, and the next one is scheduled for Thanksgiving during the Bears / Lions matchup. Tickets purchased from Ticketmaster, StubHub, or SeatGeek are eligible for the initiative, as they are all powered by Ticketmaster's NFT platform.
Our take: We like it! It's a clever move from the NFL to bring NFTs closer to their audience ahead of the big Dapper Labs launch. And who doesn't like a free NFT? ;)
⛔ Barça suspends NFT partnerships after two weeks
In last week's issue we talked about FC Barcelona's NFT partnership with Ownix. Well, this is history already, as the club has cancelled the contract with immediate effect, just a few days before the first drop. So what happened? The cancellation followed "the arrest of Israeli crypto mogul Moshe Hogeg, the owner of the football club Beitar Jerusalem. The police arrested Hogeg, who reportedly has ties to Ownix, on suspicion of involvement in an alleged massive fraud related to cryptocurrencies. They arrested him along with seven other people." This might have been the shortest cooperation in the NFT sports space so far...
Our take: As we already expressed last week, we were a bit surprised that Barça chose Ownix, but we didn't expect that partnership to go down that fast. Once again proof that the selection of a professional partner is key in the NFT world.
⚽ Peninsula Soccer sells pitch, The Football Club launches & works with Kickz.com
We have a soft spot for the creative use cases in the NFT world. And Peninsula Soccer, a youth soccer club in Vancouver Island, B.C., is one of them. "Over recent years, increased rainfall has caused hundreds of cancelled hours in practice time, game play, and outdoor activities. In an effort to fund the construction of a new weather-proof turf field for its players, Peninsula Soccer has now made the exciting jump to exploring NFTs as a creative way to secure funding. After conversations with branding agency Frosty, Peninsula Soccer created a collection of 5,000 NFTs, each representing one virtual square meter section of artificial turf of the club's future field. Available on OpenSea, the sale of these NFTs (which the club are cleverly referring to as Non-Fungible Turf) will go directly into the construction of their physical counterpart. The initiative’s goal, through the creation and sale of the NFTs, is to raise $1M CAD to fund the building of the new field. The club will only take the fee of the first sale of each NFT of $200 and the owners of the NFTs are free to further trade, with no commission going to the club."
Our take: While the only benefit for a buyer of the virtual turf is to support the youth club, we enjoy this creative usage of NFTs. Let's hope they're gonna sell a few more of them...
Our final news of today is actually a really interesting one, as it features a company that has been on our radar for a while now. The Football Club (TFC), a new free-to-play Football Blockchain-game, and NFT-marketplace for virtual goods where users can trade official digital assets, announced that it officially launched in Germany, paving the way to significant partnerships with football leagues and teams, as well as with lifestyle and sports brands. "The Football Club is an opportunity for clubs, brands, leagues, and famous personalities to allow their fans to express their fandom with digital lifestyle goods and avatars. TFC is built on the FLOW blockchain and on a mission to unlock the football metaverse for fans around the world online."
TFC also announced a partnership with streetwear specialist Kickz.com, the "#1 basketball authenticator and has been an integral part of promoting and shaping basketball culture since 1993", to create digital lifestyle goods.
Our take: This is one of the most promising setups we've seen in a while, as it combines gaming, lifestyle and sports in a very clever way. Virtual NFT merch is expected to explode in revenue and TFC seems to be able to position themselves really well.
🤓 Wrapping it up
So what have we learned in this issue?
- Providing an easy entry to NFTs is a clever move. Ahead of their big launch with Dapper Labs the NFL is experimenting with commemorative ticket NFTs, which gives their audience the opportunity to get acquainted with the topic and provides the league with first insights. It is also likely that NFL tickets will be handled entirely on the blockchain in the future, providing a second good argument for the current initiative.
- The. Right. Partner. Is. Key. That is true for many parts of life, and for NFTs in particular. We've been stressing this for quite a while now, and Barça's cancelled partnership proves that point once again. It's probably tempting to go with a partner from whom you can get a higher cut of the revenue, but in the end it's not worth the hassle. A professional partner who can provide high quality work has its price, but it pays out in the long run.
- NFTs create entirely new opportunities. Peninsula Soccer selling their so-called "Non Fungible Turf" is a great example how a creative initiative can drive revenues, even though they are not so high in this particular example. The Football Club however, is aiming for what is probably one of the biggest opportunities of our time: Virtual goods, an entirely new commerce class. Likely a billion dollar industry that is just kicking off!
And that's it for this weeks issue! And as always: Feel free to reach out for feedback and to discuss all things NFT and sports! To stay up to date: Make sure to follow us on Instagram and Twitter for stats, drop announcements and more. And join us on our Discord server to discuss the latest news and insights about NFTs in sports.