NFT Football Club: Adidas is a Crypto Sponsor: How a decentralized football club rises to the Premier League with the help of NFT | newsletter

NFT investors unite to buy English tier four football club
Crawley Town FC aims to enter the Football House of Lords with the help of the supporting cipher scene
adidas supports the NFT sports project – adidas stock badly needs positive news

A report dated April 7, 2022 attracted a lot of attention in NFT and football circles: WAGMI United, a consortium of various NFT investors, has bought English fourth-tier club Crawley Town FC from West Sussex. What do investors want to achieve with this? And why is Adidas, a German sporting goods manufacturer from Herzogenaurach in Franconia, interested in the digital NFT project?

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WAGMI United wants to ‘give the fans a voice’

Similar to Decentralized Web 3.0, WAGMI United, by the way an acronym for “We’re All Going to Make It”, which is common in the crypto scene, also wants to create decentralized democratic structures at Crowley Town FC.

WAGMI United continued in a tweet on June 27, 2022: “Our model allows local Crowley City fans to have their say: a radical change from the absent leaders of the past.” The club is said to have an active fan base to have a hand in shaping the team: “The cornerstone of our vision is to follow without limits. We have seen first-hand the power of digital societies taking over the world through NFTs. We are betting on a future where a fan is not restricted to geographical location.” Therefore, some similarities can be drawn with the main characteristics of cryptocurrencies and NFT. On Wednesday, WAGMI United launched an NFT group where interested followers can purchase NFT from the team.

Long-term goal: to enter the English Premier League

WAGMI United has big goals. Crawley Town FC, which has been in the English lower leagues for amateurs or the lowest professional leagues for decades, will be promoted to the Premier League, the English Premier League. NFT investors have a long-term view on this: “We are realistic – bringing Crawley Town into the Premier League will not happen overnight. We want to democratize the club and give our community the opportunity to vote on the decisions that will shape the future of the club: from food to match day to the members of the Board of Directors. At the end of the next season, promotion to the third English league (League One) must be confirmed at least once. If that doesn’t happen, NFT investors who might keep the NFT team, among other things, could exit the project.

adidas supports WAGMI United

At the end of June, WAGMI United were able to announce that they had acquired a major player in the sports field as their sponsor, adidas. Club NFT paid tribute to the DAX Group via Twitter: “We are proud to work with adidas, a brand that has always pushed the boundaries of sport and culture. We couldn’t have imagined a better start to our adventure than a brand with such a rich history in football and competitive sports,” WAGMI United wrote.

The Adidas kits for the fourth tier club were recently revealed. In turn, WAGMI United offers adidas the opportunity to enter the growing NFT market and enjoy the benefits of a first mover. In addition, the English fourth-tier club’s commitment to the sporting goods giant, which generates annual sales of over €20 billion, should certainly be financially manageable without any major issues. So it appears that the chances outweigh the risks for Adidas. Nick Craggs, Head of Football at adidas, was delighted with this collaboration: “Our partnership with WAGMI United has given us the opportunity to work with Crawley Town FC. We are delighted to be able to supply the club with adidas products, and to be a part of the WAGMI United website. .

Dabei ist die Untersttzung des Crawley Town FC Teil eines greren Engagements von adidas im digitalen Bereich, wie die adidas-Marketingmanagerin Erika Wykes-Sneyd betonte: “Im Jahr 2021 haben wir unsere Reise in neue digitale, Rumere wten begonenn Fans mit Zuversicht den Weg in das Metaversum weisen. carrying out”.

This is the situation with Adidas stocks

adidas Stake can also urgently use such new momentum in a growth market. The traditional German group has been in a continuous downtrend since August 2021. Previously too high valuations, global supply bottlenecks, especially Chinese shutdowns against the coronavirus, dealt a heavy blow to the stock. Similar to its rival Nike, Adidas also has to post a decline in profits. adidas stock is currently trading at just €164.54 (as of closing price July 6, 2022) and is therefore about 50 percent below the previous record high reached on August 4, 2021 at €336.25. Whether adidas will soon return to its former strengths will depend not least on further economic developments in the important sales market in China.

finanzen.net editorial office

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