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Monumental Sports & Entertainment Simultaneously Launches NFT Collections for Two Teams in Two Different Leagues

Teams have commissioned two renowned D.C. artists to create unique collectables for the NHL’s Washington Capitals and NBA’s Washington Wizards fan base. A first-of-its-kind free NFT will be available to fans within the Wizards Collection.

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Monumental Sports & Entertainment, the ownership group of the NHL’s Washington Capitals and NBA’s Washington Wizards, today announced the first-ever NFT (non-fungible token) collection simultaneously being launched for two professional sports teams in two different leagues. Monumental Sports & Entertainment partnered with OpenSea as their marketplace for this first-time NFT collection.  

“We are thrilled to share these incredible digital collections with Caps and Wizards fans and provide them an accessible entry into the exciting world of NFTs, blockchain technology, and cryptocurrencies,” said Ted Leonsis, Founder & CEO of Monumental Sports & Entertainment.

“Monumental Sports & Entertainment is a digital-first company, and we consistently innovate to provide fans the richest, most immersive, and state-of-the-art experiences. To have the chance to do that and partner with Naturel and Rob Zilla III, two renowned D.C. digital artists – and Caps and Wizards fans, respectively – has been phenomenal.”

NFTs are one-of-a-kind digital assets that have an exclusive owner and exist through blockchain technology. NFTs are akin to collector’s items, albeit in digital form. Whereas a tangible asset may be held physically, its provenance may be difficult to validate. But an NFT’s unique metadata allows ownership to be verified and the buyer and seller operate with full transparency of all transactions and costs associated with the individual piece. Additional information on the concept of NFTs is available on each team’s website. To learn more please visit www.WashingtonWizards.com/NFT (Wizards) and www.WashCaps.com/NFT (Capitals). 

See an example of one of the Wizards NFT offerings: here

See an example of one of the Caps NFT offerings: here

Monumental Sports & Entertainment has partnered with two acclaimed, Washington D.C.-based artists with deep community roots on a respective NFT collection that celebrates the teams, their collective hometown of D.C., and the teams’ extraordinary fan bases. Famed graphic designer Lawrence Atoigue, professionally known as Naturel, has been commissioned to create the Wizards NFT collection, and renowned illustrator Robert Generette III, professionally known as Rob Zilla III, has been commissioned to create the Capitals NFT collection. These leading artists have channeled their unique abilities in design to create powerful art which is visually captivating, taps into the passion Wizards and Capitals fans feel for their teams, and celebrates the unique bond each team has with the community for which they play.  

This announcement comes ahead of making the NFTs available to the public and to educate and generate excitement for the fans ahead of the expected mid-July drop dates. And in a first-ever move for a professional sports team, the Wizards are creating a special edition NFT within its collection which will be available free of charge for the first 500 fans through a creative marketing effort, to be announced by the Wizards later this week.    

The Washington Wizards NFT Collection 

“The Washington Wizards Starting Five” is a five-part NFT series that celebrates the diverse and powerful hometown of the team, Washington D.C. The starting five of a basketball team represent the strongest players to go up against an opponent, and this Wizards NFT series does just that – it is designed for the great basketball fans in the DMV, highlighting the energy and culture that makes The District so unique.  

As part of the collection, the Wizards will also feature a specialty option, “The Sixth Man.” The sixth man is an invaluable member of any basketball team and, in many ways, is key to its success. Through this offering, the Wizards are celebrating their most invaluable asset: the Wizards fan. As a thank you to these dedicated supporters, The Sixth Man NFT will be a free NFT collectible – a first-ever such concept and disbursement program amid professional sports teams. The Wizards organization chose to create these free-of-charge NFTs to ensure that more fans have an opportunity to participate as a founding member of “The Wizards Starting Five” NFT program.  

The NFTs will be sold on OpenSea in five distinct package levels – and some package levels are available to a single buyer and others purchased by multiple buyers. (Details on how fans can pursue The Sixth Man package will be announced shortly.) But regardless of which NFT a fan purchases, the metadata authenticating the purchase will always remain unique to the individual NFT. Some packages also offer additional experiences tied to the individual NFTs being sold.  

·         First Starter: Artist Focused Auction  

This is a 1 of 1 minting to be sold in an auction format that includes unlockable content accessible only by the winner (including Naturel behind the scenes content), courtside tickets for a Wizards home game with the famed artist, Naturel, a personally commissioned portrait from Naturel, a game-worn jersey, and a meet and greet with team owner, Ted Leonsis.

·         Second Starter: Team Focused Auction  

This is a 1 of 1 minting to be sold in an auction format that includes courtside tickets for a Wizards home game and exclusive game access (early entry, watching pre-game warm-ups, attending a post-game media availability with players and coaches, etc.), dinner/meet and greet with a member of basketball operations and team alumni, a game-worn jersey, and a chance to meet team owner Ted Leonsis. 

·         Third Starter: Team Focused Option 

There will be 50 minted, available at $299.99 each that includes two tickets to a Wizards home game and a jersey from the Wizards City Edition collection.  

·         Fourth Starter: Team Gear Focused Option  

There will be 125 minted, available at $149.99 each that includes a jersey from the Wizards City Edition collection.   

·         Fifth Starter: Simple Option 

There will be 200 minted, available at $49.99 each.  

·         Sixth Man: The Sixth Man NFT   

This is a minting of 500, available to fans free of charge.  

About the Artist 

The Wizards have commissioned Lawrence Atoigue, professionally known as Naturel, an illustrative-based artist who has quickly emerged in today’s postmodern scene. His futuristic illustrations have successfully blended methods of Pop and Cubism with a surrealist vision. A social influencer counting numerous NBA stars among his 90,000+ Instagram fans – his talents have attracted the eyes and ears of other celebrity clients such as Macklemore, Swizz Beatz, and countless others. 

On Sale Date 

“The Washington Wizards Starting Five” NFT Collection will go on sale at 9:00 a.m. EDT on July 12 through 9:00 p.m. EDT on July 14, exclusively on OpenSea. The timing of the Sixth Man offering will be announced on Wizards social media channels and on the team website in the coming days. Ahead of the date of the sale, the Wizards Marketing and Communications teams will sustain a campaign to educate fans new to NFTs, create excitement around the collection, drive interest in this new frontier of digital collectibles, and introduce the artist to the Wizards fan base.    

ALL CAPS All-Digital Fan Collectibles

The Washington Capitals are offering two themed collections. The first is a celebration of the 2018 Stanley Cup Championship. For the first time ever, fans will be able to own a digital piece of Capitals history marking the 2018 Stanley Cup Championship. The Capitals are honoring the championship through two unique collectibles within this theme to commemorate the memorable season.  

·         Capitals Stanley Cup Ring  

This is a 1 of 1 minting to be sold in an auction format, featuring the artwork of the 2018 Stanley Cup Championship ring. Ted Leonsis will also present the winner with a physical replica of the Championship ring, which was designed by Jostens and presented to the Capitals players who won the 2018 Stanley Cup trophy. The package also includes VIP access to a Capitals Open Practice at MedStar Iceplex, an autographed puck, a street pole banner from the 2018 Stanley Cup parade, and a personalized, white Away Jersey, the same style worn by Capitals players during Game 5 of the 2018 Stanley Cup Final.   

·         Capitals Stanley Cup Banner 

There will be sixteen minted, available at $499.99 each. Sixteen corresponds to the sixteen wins it ultimately takes to win the Stanley Cup. The Capitals raised the 2018 Stanley Cup Championship Banner at Capital One Arena on Oct. 3, 2018.

The second theme is the Capitals Screaming Eagle Collection. The Screaming Eagle logo was first introduced and featured on Capitals jerseys in 1995 in the blue, black, and bronze color scheme. The symbol of the screaming eagle preying in the downward design direction evokes the energy, power, and speed of an attacking eagle. The Capitals will offer an exclusive Capitals Past to Present VIP experience as outlined below. To honor the year 1995, when the screaming eagle jersey was introduced, fans may purchase a limited number of 95 digital Screaming Eagle exclusive jerseys.    

·         Capitals Past to Present Experience    

This is a 1 of 1 minting to be sold in an auction format. In addition to the NFT, the buyer will receive two glass seat tickets to a 2021-22 regular season Capitals game, be able to watch warm-ups from the penalty box, participate in an ice resurfacer ride during intermission, receive a personalized Screaming Eagle jersey, and participate in a meet-and-greet with a Capitals legend.   

·         Screaming Eagle Digital Collectible Jersey   

There will be ninety-five minted, available at $100.21 each. 

About the Artist 

Robert Generette III is an award-winning illustrator, educator, and self-proclaimed “vector art monster” based in the Washington, D.C. Metropolitan Area. Under the pseudonym Rob Zilla III, he uses an iPad Pro with Apple Pencil to create compelling sports illustrations and portraitures for clients ranging from Nike, NBA (Wizards & Warriors), Major League Soccer (L.A. Galaxy & DC United), ESPN, Cycle, XBOX, and Adobe.  

On Sale Date 

ALL CAPS All-Digital Fan Collectibles will go on sale at 9:00 a.m. EDT on July 15 through 9:00 p.m. EDT on July 17, exclusively on OpenSea.  

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About Monumental Sports & Entertainment

Monumental Sports & Entertainment is America’s leading sports and entertainment family. Our people, players, teams, and events bring excitement and joy to millions. We invest and innovate to consistently raise the game so we can deliver extraordinary experiences that will inspire and unite our community, our fans, and our people. To learn more, please visit www.monumentalsports.com.

NFT

Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

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A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

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NFT

Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

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The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

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Projects

The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.

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The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

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