Club Necaxa, one of Mexico’s top soccer league Liga MX teams, becomes one of the first sports teams to auction a non-fungible token (NFT) for part ownership in the club. The auction will occur on the OpenSea marketplace with an opening bid of $1.3 million.
The NFT represents a 1% stake in Club Necaxa. This stake is currently owned by Al Tylis’ group of investors, who collectively own 50% of the club as of ten days ago. Tylis was formerly CEO of Northstar Asset Management.
A novel feature of owning the club’s stake as an NFT is the ownership is permanent and transferable. This means if the current investors’ equity in the club becomes diluted, the NFT owner will still have a 1% stake in the club, according to a Bloomberg report. Additionally, although the winner will reap the benefits of owning shares, they do not have to make further investments in the club.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
