Premier League Set To Announce Official Nft Partners

The Premier League is closing in on announcing its first official NFT partnership, with clubs reportedly approving a deal with ConsenSys.

English football’s top-flight is the latest major sporting organisation to consider capitalising on this lucrative new revenue stream by entering the non-fungible tokens market.. According to The Athletic, the 20 Premier League clubs have already approved a partnership whereby ConsenSys will gain the rights to mint NFTs based on still images.

A second deal is also reportedly close, with Dapper Labs set to acquire rights for video. The report adds that Candy Digital, which has a NFT partnership with Major League Baseball, and Sorare, are two of the firms that have missed out on the deal.

The agreements could be worth more than £434m over the next four years.

Despite recent criticism surrounding sports organisation promotion of NFTs, and the potentially exploitive nature of these deals, it is thought that the Premier League’s interest in the NFTs is around fan engagement and mass market products, rather than the high-value tokens. ConsenSys’ still image NFTs are likely to be marketed as the modern-day alternative to Panini’s traditional trading cards and stickers.

Prominent figures in football, including John Terry and Neymar, and a number of clubs have already agreed NFT deals, and the Premier League looks set to be next.

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