One of the top soccer teams in the world, Manchester United, has released its first set of non-fungible tokens on the proof-of-stake Tezos blockchain. In order to receive NFTs, fans must log in with their Tezos wallets. One can track digital collectables on the blockchain and save them in their wallet. Midway through November, United revealed the NFT project, calling it a gift to the supporters.
The first digital collectable from the team is a key that grants users free access to a variety of benefits. Based on their rarity, keys are separated into three groups (Classic Key, Rare Key and Ultra Rare). They will be given out at random to club supporters.
As part of its announcement, the English Premier League football team said it will develop a virtual environment linked to its official Discord.
The club offers benefits including entry into different competitions and access to private Discord channels. Access to the club’s soon-to-be-released NFTs will also be available to key holders. The most special gifts will be available to users who were able to secure the rarest keys.
After a leading sports news outlet disclosed that the blockchain company had partnered with Man United, XTZ surged in February. Additionally, they agreed to sponsor training kit deals worth £20 million annually, which were later confirmed shortly after the initial claim.
The NFT sector reported $5.36 billion in organic trading activity in January of this year, down from a record $25 billion in revenues in 2021.
Since the crypto market collapse began in May, these massive sums have decreased to an average monthly NFT trading volume of $1 billion. Statistics from Dune Analytics show that in September 2022, the volume was barely $466 million. However, recent activity in the NFT market by companies like Sony, FIFA, Porsche, and Reebok, among others, suggests that interest is still alive.