London-based football club Queens Park Rangers will launch a set of limited edition non-fungible tokens (NFTs) licensed by Animoca Brands. The first set of NFTs is expected to be launched later this year.
It is undeniable that we experienced NFT hype. Despite a noticeable decrease in interest from the public, as demonstrated by the decrease in NFT sales, new NFT platforms and deals are announced almost daily.
Beyond the hype, NFTs can add a lot of value to sports teams. Clubs are followed by dedicated fan bases that want to feel like they are part of a community. The pandemic took away part of the ritual that enabled that feeling, such as going to the game or gathering with other fans to watch it on the TV. If properly branded, NFTs have the potential to re-establish a sense of community among fans through the ownership of the club’s collectibles.
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