Football Deepens Links With NFT Market – Forbes

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Polish football team Legia Warsaw has partnered with sports and entertainment agency Capital Block to explore how to market Non-Fungible Tokens (NFTs) to its fan base.
The club, which finished last season in 16th place in Poland’s Ekstraklasa league, said it will “provide a brand-new way for clubs to engage with fans”.
Capital Block, which has also agreed to sponsor the club, said the NFT market is currently significantly untapped by football clubs in Europe.
It added that the reason for this “is because football clubs are struggling with firstly understanding the NFT landscape… and secondly, overcoming the challenge of how to make NFTs relevant to fans”.
Tim Mangnall, CEO of Capital Block, said: “NFTs have the potential to be the most powerful fan engagement tool available to sports clubs. Every club around the world needs to have an NFT strategy in place for the long term.”
Mangnall (left) is pictured above with Legia Warsaw’s commercial director, Pawel Kokosza.
NFTs – which have their roots in the art world – are digital collectibles often featuring images and videos that can be traded. Built-in coding proves unique ownership in each digital asset.
They have become increasingly common in commercial relationships between the cryptocurrency industry and the sporting world in recent years.
The idea is that NFTs help fans get closer to their favourite teams with promises of behind-the-scenes access and the chance to trade sporting memorabilia.
Last summer, for example, the Italian football club Juventus created an NFT of a three-dimensional, high-definition replica of the team’s home shirt for the 2021/22 season paying tribute to some of its most famous players.
Associate Editor at Forbes Advisor UK, Andrew Michael is a multiple award-winning financial journalist and editor with a special interest in investment and the stock market. His work has appeared in numerous titles including the Financial Times, The Times, the Mail on Sunday and Shares magazine. Find him on Twitter @moneyandmedia.

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