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march 7, 2022

The Football Club's Guide to the NFT

What is NFT
A non-fungible token is a digital asset stored on a blockchain and created to represent real-world objects such as art pieces, music, in-game items etc. With NFT, piece of art can be "tokenised" to create a digital ownership certificate that can be purchased and sold. Tokenisation expands and turns consumers into investors, brands increase their investment potential and sports, even football clubs are not an exception. Here is a glance at the football NFT rulebook.

Why and What Fans Buy
World renowned football clubs, constantly looking for new ways to connect with their fans, became the first brands to recognise the potential of tokenising themselves. Offering fans the opportunity to buy exclusive crypto tokens that rise in value, they also give them voting rights and unique content, actually making fans shareholders. It’s clearly a win-win situation: fans feel more involved, clubs get monetisation opportunities while the NFT industry in general gets closer to mass adoption and popularization. As for the reasons to buy, most fans purchase tokens not only to make a profit but also for the side benefits, such as votes on small decisions like what song to play over the stadium during the match, or entry into a draw to win merch.

The first Premier League club to launch a range of NFTs in 2021 was Manchester City; however, it had pretty little effect on public consciousness. The club released more than 60 NFTs with a total worth over £180,000. In October 2021, AC Milan launched NFT campaigns where NFTs acted as ‘loyalty pass’ to exclusive rewards and experiences through the digital platform. One has to have at least 10 AC Milan fan tokens, which cost more than £60 in order to own one of these NFTs.

FC Rangers crafted 1,111 unique digital items of mementos, so that devoted fans can own a piece of Rangers club history. By turning them into NFTs, all fans will be able to securely own this iconic collection knowing that the art they are purchasing is truly one of a kind and that they are the only people in the world who own it.
Have a Football Club? Make a Profit

Sounds pretty exciting to buy and make a profit for fans but what about FC owners? Let’s start by opening a place to create and sell NFTs. Magora allows you to launch a custom NFT marketplace or use it’s white label solution to drive revenue and create fan engagement that allows them to access all benefits. Involve players, artists, sell NFT football cards, signed by players and build a slew of opportunities for both fans and creators, just to name a few. Magora gives easy customer access to gaming assets and allows users to link a wallet, download content, set a price and withdraw funds and provides functionality for a user to search and purchase. Working for more than 10 years and having over 500 cases, Magora focuses on turn-key projects and creates tailor-made solutions that meet the requirements of your particular football club and ideas.
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