Liverpool Football Club launched its first effort into nonfungible tokens around a month ago with a collection of art based on players and managers from the men’s side, marking one of the greatest agreements in digital collectibles and sports.
Liverpool and Sotheby’s will auction off 24 NFTs showing squad members as cartoon superheroes, each with elements specific to the player such as a distinctive gesture or a reference to their personality or off-the-field activities.
Liverpool will sell limited edition NFTs made by a generative art algorithm, which will mix and match photos of the team’s players and management with a variety of illustrated qualities, in addition to the two-dozen NFTs that will be auctioned to the highest bidder.
Those NFTs will be available for purchase immediately for $75, a more affordable price point than many digital artefacts, as NFTs frequently sell for thousands – if not millions – of dollars at auction.
Buyers of the NFTs will not know which player, manager, or attributes they have purchased until the auction concludes on April 2 and the items are given to consumers’ digital wallets, a process Sotheby’s compared to “opening a pack of (soccer) stickers.”
The good towards the community
The LFC Foundation, which supports charities and community projects, will receive half of the auction revenues.
Furthermore, 10% of sales from the “Heroes” edition NFTs, as well as 10% of all future revenues, will be donated to the foundation.
The Liverpool Football Club Foundation will also have its own NFT collection, LFC Foundation Heroes. These collectibles will include caricatures of great Liverpool FC staff workers who have made a good effect in the community.
Aside from generating new revenue streams, this effort demonstrates the potential of NFTs in recognising and rewarding lesser-known persons who have greatly contributed to a sports club’s success and the well-being of fans.
Lacklustre performance so far…
Liverpool’s effort into cryptocurrency has resulted in the club selling less than 10,000 of a possible 171,000 non-fungible tokens.
The NFTs, which are digital artworks of celebrities like as Mohamed Salah and manager Jurgen Klopp, were auctioned off at Sotheby’s for $75 (£57) each, for a total of $12.8 million (£9.8 million).
The headline statistic of 9,721 sales implies that the club did not attract anywhere near the investment it had hoped for, with only 6% of the available NFTs sold.
However, Liverpool may still claim that revenue from the sale of its NFTs totaled £1.125 million, with £281,374.98 of that amount going to the club’s charity, the LFC Foundation.
Randomly created ‘Hero’ tokens based on Klopp and 23 first-team players cost $75 (£57.20), as did 24 unique ‘Legendary’ tokens. Salah and Klopp’s artworks earned more than $80,000 (£61,000) each at auction.
