Benzinga - One of the most-followed football (soccer) clubs around the world is launching its first non-fungible tokens. Here are the early details on the upcoming launch.
What Happened: Soccer powerhouse Manchester United (NYSE: MANU) is launching non-fungible tokens, joining the number of sports teams and leagues that have entered the Web3 space with digital collectibles.
The NFTs will be powered by the Tezos (CRYPTO: XTZ) blockchain, the official blockchain partner of the team.
The first NFTs from the team will be gifted to fans, followed by a sale at a later date. The team announced that 20% of proceeds from the second collection will be donated to the Manchester United Foundation.
Plans call for additional NFTs to be gifted and sold throughout the season. The later NFTs will be sold for 30 British Pounds each, or around $35.
Manchester United will also launch a virtual world through the team’s official Discord.
“Members of this global community will be able to engage with the club, players, legends and thousands of other like-minded fans,” the team said.
Interested fans can sign up here.
Related Link: Manchester United Shares Fall On Earnings, How Champions League And Tezos Partnership Could Help Boost The Stock
Why It’s Important: The team said the launch of NFTs represents the next step in developing fan experiences using Web3 technology.
Manchester United said the first NFTs will be a “coveted piece of United history.”
“Much like the football traditions of old, such as collecting match programs, club badges and sticker books, fans will soon have the additional option to collect this new type of digital memorabilia,” Manchester United CEO of Digital Products and Experiences Phil Lynch said.
Tezos Chief Commercial Officer Mason Edwards said Tezos will provide “unique and enhanced engagement opportunities” for Manchester United fans.
“Football means so much to so many people and Manchester United, not to mention its fans, are the titans in the sport,” Edwards said. “It is an honor to be part of the Club’s first step into Web3 through the creation of digital collectibles which the club and its followers will cherish for years to come.”
MANU Price Action: Manchester United shares are flat at $13.35 on Monday.
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