Do you think you’ve seen it all in the NFTs? Think again. Sure, we’ve seen digital art collectibles, some of which even have intertwined tangible assets. Lately, we’ve even seen NFTs including things like patents and Documenting the Nobel Prize-winning invention. Necaxa FC today announced its intent to offer something unique through NFT – team ownership.
Big Bids: Necaxa Club
The football club was started following the sale of nearly half of the franchise. A recent sale rated the franchise at the “low nine digits” according to Sportico report. The sale was also noteworthy because US investors were the first to dare what is being described as the “NFL in Mexico”. Real estate investor Al Tylis and DC United CEO Sam Porter spearheaded the effort. Major capital investors from NBA players such as Sean Marion, Richard Hamilton and Victor Oladipo, along with other names in the sport such as Justin Verlander and Mesut Ozil have joined the ownership group as well.
Regarding the purchase, Tylis said, “Sports are powerful media properties, and I’ve seen something for a while that I found relatively shocking: In the US alone, more people watch Liga MX than Major League Soccer and Premiere League combined – it was just a number Unbelievable to me.”
Tylis has admitted the NFT is a “buzz” too, acknowledging that the interest in this unique NFT roster has certainly been a bit of a drag. The decision was “definitely a way to generate interest” at Necaxa and they noted that they were “adding something unique, that hasn’t been done before” in implementing NFT with club ownership.
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OpenSea runs on the Ethereum network, and will be host to Necaxa's initial club token sale. | Source: ETH-USD on TradingView.com
necaxa club symbol
The single token is set to go up for auction in the coming days, and will run until June 18. The franchise said it will carry permanent capital, and is not subject to dilution or future capital calls. 1% ownership will always be 1%. The token will be listed on OpenSea and will remain convertible after the initial sale. Blockchain consultancy B9Labs worked with the franchisee to launch the token, which is expected to launch with a starting price of $1.3 million.
In addition to franchise ownership, the club code will also allow the owner access to club facilities, tickets for both home and away matches, and any championship rings the club wins.
While many football clubs have been looking for or interacting with “fan codes” – often called by companies like Socios, Necaxa is turning the dial here. Digital presence, meet tangible ownership.
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Featured image from Pixabay, Charts from TradingView.com