English football giants Manchester City will release a nonfungible token collection to make their title-winning campaign, with the digital artwork set to go on sale soon.
Man City joins the NFT frenzy
Nonfungible tokens (NFT) have become quite popular in the sporting and entertainment world, thanks to the unique value they give digital art pieces. As a result, several sports teams and celebrities have launched their NFT collections.
The premier league champions Man City is the latest sports team to enter the NFT market. The team revealed this in a statement yesterday, stating that “Premier League Champions, Manchester City, will mark their title-winning campaign with the launch of a series of commemorative digital artwork, the ‘1’ collection, which will be available for purchase as Nonfungible Tokens (NFTs).”
According to the blog post, this is the first time the football club is dropping an NFT to celebrate a title win. The collection dubbed ‘1’ reflects the club’s final position in the table and contains four unique works by acclaimed multidisciplinary artist Jon Noorlander. The four NFTs are called Signed by the Champions, The Champions Mosaic, The Champions Medal and The Champions Celebrate, which will be the top and unique edition.
‘1’ is set to be made available on NFT platform MakersPlace on May 24, roughly 24 hours after the club receives the Premier League trophy at the Etihad Stadium. The club will receive the trophy on the final match of the season against Everton Football Club.
“A portion of Manchester City’s profits from the sale will go to the City in the Community charity, earmarked for our Manchester Cityzens Giving for Recovery project. The project uses football to support the mental health of local young people in Manchester in the wake of the pandemic,” the blog post added.
More entities recognize the value of NFTs
NFTs are unique because of the blockchain properties they give art pieces and other contents. Thanks to NFTs, there is total transparency regarding content, and artists can earn more money for their pieces. It also eliminates issues such as faking art pieces and more.
Man City entering the NFT space is the latest sign that the industry is expanding and could experience further growth over the coming months and years.