Tuesday, August 16, 2022

The England FA Wants to Introduce Its Own NFT Platform

The Takeaway:

The Three Lions & Lionesses teams will serve as the basis for the NFTs, according to the Football Association (FA).

The FA (Football Association), England’s national football governing body, has revealed plans to introduce a non-fungible token (NFT) platform. According to information on its website, the regulatory body for English soccer is presently looking for a possible partner to assist in achieving the NFT goal.

The FA said in the release that the RFP and the tender process are part of a long-term NFT plan that will strongly emphasize fan involvement.

The FA stated in a news release that it had:

“launched a Request for Proposal [RFP] tender process to appoint a partner to build a long-term Non-Fungible Token [NFT] based platform, focused on the England Senior Men’s and Women’s teams”

 

Fan Interaction and a Fresh Source of Income

The FA claims that utilizing blockchain-based technology will provide supporters with new ways to interact with the national teams. NFTs will also enable the company to capitalize on fresh revenue sources, with the money generated going back into the game.

FA Commercial Director Navin Singh added in a comment:

“As a not-for-profit organisation, we are always exploring progressive and viable ways to capitalise on new technology to help grow our fanbase and provide much-needed investment back into the English game. NFTs present a unique and innovative opportunity to engage with our fans through the imagery of The FA and the England Senior Men’s and Women’s teams. Any revenue generated will be for the benefit of the game, whilst importantly offering flexibility for fans to express their fandom in this new exciting medium.”

For use in the RFP process, the FA has made crucial Intellectual Property [IP] available, including the names of current national team players, match video, and the Three Lions and Lionesses emblems, among other images.

 

The FA’s ambitions follow the UK government’s announcement a few months ago that it would be creating its own NFT, which was considered a move toward strengthening the nation’s position as a leader in the cryptocurrency industry.

Other News: Mercedes-Benz Collaborates With Polygon for Data Sharing

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Vivekanandan Tiwari
Vivekanandan Tiwari
Vivekanandan is an IT graduate, He loves to write about blockchain-related techs. He is enthusiastic about Financial markets and is always eager to learn.

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