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Issue 66: PL renegotiates, funding rounds, monthly stats

Issue 66: PL renegotiates, funding rounds, monthly stats

Here's your weekly review on what happened at the intersection of NFTs and Sports:

  • ⚽ Premier League lines up NFT deal with Sorare
  • 💰 Funding Rounds: RealFevr and Mercury
  • 📊 Monthly stats of the top leagues' NFT platforms

Let's have a closer look! 👀

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⚽ Premier League lines up NFT deal with Sorare

"English football's top flight is lining up a £30m-a-year deal to sell digital tokens to fans after talks with a rival provider collapsed. Sky News has learnt that the Premier League will hold talks with its 20 clubs to discuss a proposed multi-year contract with Sorare, a Paris-based start-up. The deal, which is understood to focus on static images of footballers such as Tottenham Hotspur's Harry Kane and Erling Haaland of Manchester City, could be formally agreed within weeks. (...)Technology industry sources said it would replace an agreement with ConsenSys that was on the verge of being signed earlier this year. ConsenSys tried to renegotiate a deal at a lower price following a slide in NFT valuations, but one Premier League club executive said they had been informed that the Sorare contract was more lucrative than the revised ConsenSys proposal."

💰 Funding Rounds: RealFevr and Mercury

"RealFevr, one of Portugal’s fastest-growing startups, announced that it has raised a €10 Million funding round. The round is led by global sports investor ADvantage, with participation from Semapa Next, Shilling Capital Partners, APEX Capital, and the professional football player Sérgio Oliveira. The investment will further accelerate RealFevr's international expansion, acquisition of new intellectual property rights, and launch the world’s first Trading Moments Game: FEVR Battle Arena, set to be released in the coming weeks."

"College sports startup Mercury has raised $7.5 million from Multicoin and other venture backers betting that its invisible crypto-tech can enable a lucrative wave of experiences for fans. Mercury is using non-fungible tokens (NFT) on the Flow blockchain as access passes to IRL experiences for college fan bases. (...) Mercury wants to focus attention on the potential for creating hyperlocal fan clubs using the company’s digital collectibles. It is building platforms for the Clemson Tigers, the Villanova Wildcats and other NCAA Division I sports powerhouses to give fans access to memorable experiences, including interviews with players, and running down the field on game day."

📊 Monthly stats of the top leagues' NFT platforms

Here's the monthly overview of the top sports leagues' performance:

  • Red numbers (almost) all over. The vast majority of leagues and platforms is still struggling under the challenging market conditions and the aftermath of the declining NFT market. Total sales numbers for most projects are down between 40% and 58%, a heavy hit compared to last month's stats. Unique buyers are declining as well, with only TopShot being an exception.
  • Sorare gives some hope, as the company managed to actually increase total sales compared to last month, and that by a decent 25%. The launch of their NBA Fantasy project and maybe even the rumors about the Premier League contract have likely contributed to those numbers.

🤓 Wrapping it up

So what have we learned in this week's issue?

  • Renegotiation time. We have seen multiple crypto sponsorship deals collapsing or being renegotiated over the last couple of months, now this not so great trend seems to have reached NFT contracts as well. And the seemingly fell through Premier League and ConSys deal is a big one. Sorare, still equipped with a decent war chest and sales numbers that give some hope, might get this lucrative deal on a bargain price, compared to the numbers we've read before. Let's see which other deals will be affected. For NFT believers a great time to secure good and long-lasting rights.
  • NFT believers are still out there. Not only when it comes to securing IP rights this is a good time to act, but also for the investors of the world. That's why we still see deals being struck, two of them we've mentioned in this issue. While the amounts don't seem to be too big and in some cases might be bridge rounds to make sure that a company gets through these rough times, this is still a good signal from and for the market.

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.