Premier League football club Liverpool is launching a non-fungible token (NFT) collection, the LFC Heroes Club. The project is in partnership with renowned auction house Sotheby’s.
The collection will feature two levels of scarcity to give the possibility to every Liverpool fan to be part of the project while also having a layer of exclusivity within it. One level is composed of 24 unique NFTs of different players, while the other will promote a series of generative NFT editions of player illustrations.
The common collection, priced individually at $75, will be available for sale for three days on Sotheby’s NFT marketplace. Fans will only be able to open the NFT of a unique and randomly generated player’s illustration once the sale ends. This feature resembles the anticipation and excitement of opening up a pack of football cards after purchase.
The 24 legendary heroes NFTs will be auctioned during those three days at Sotheby’s.
Half of the proceeds from the auction will go towards the LFC Foundation, which supports charities and community projects. In addition, 10% of sales from the “Heroes” edition NFTs will also go towards the foundation, as well as 10% of all future royalties.
Liverpool’s Foundation will also have its own NFT collection, LFC Foundation Heroes. These collectibles will feature caricatures of outstanding staff members that have made a positive difference in Liverpool FC’s community. Beyond raising new sources of revenue, this initiative is showcasing the potential of NFTs in recognizing and appreciating lesser known figures that have significantly contributed to the success of a sports club and the wellbeing of fans.
Ownership of an LFC NFT will grant exclusive access to an online community that features, among other things, virtual hang-outs, competitions, and retail discounts.
Following investigations by the Premier League over the risks involved with promoting digital assets, Liverpool’s announcement specified that the NFTs are works of art and should not be considered investments. Positioning it in this way, combined with creating NFTs that benefit the club’s community, may be a step towards separating the image of NFTs from reckless investments.
“We wanted to create a really accessible collection of NFTs that are truly unique to LFC, and simply give fans an opportunity to explore this new and trending topic, and most importantly, give fans the choice to buy one should they wish,” said Drew Crisp, Liverpool FC’s digital SVP.
The collection will use Polygon’s blockchain.
This is Sotheby’s first collaboration with a sports club. The fact that it is for an NFT collection highlights the auction house’s interest in this field and how it is looking to integrate new industries in digital art. Late last year, it launched its own metaverse marketplace powered by Mojito.
Meanwhile, Sotheby’s auctioned a Bored Ape Yacht NFT for $24 million, and the World Web Wide code as an NFT for $5.4 million. Bonhams, another renowned auction house, auctioned Sorare’s Ronaldo NFT card.