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The Mexican Football Federation Forbids a Liga MX Club From Selling an Interest in a NFT

The Mexican Football Federation does not want Necaxa, a Liga MX team, to sell a 1% ownership stake as part of a $1.3 million NFT.

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The owners of Necaxa, a Liga MX team, want to take advantage of the NFT craze by selling a 1% stake in the team via an NFT. The team’s ownership group, which owns 50% of the franchise, is directed by Al Tylis and Sam Porter of DC United and includes soccer player Mesut Ozil and Miami Heat forward Victor Oladipo. The 1% stake NFT will be auctioned off on the OpenSea marketplace, with a starting bid of $1.3 million.

The NFT bidders will share the team’s revenue in the same way that other shareholders do, but they will not have voting rights. The one percent ownership would be permanent, so even if the other investors dilution occurs, the one percent will remain unchanged and would not be required to participate in capital calls if the club requires additional funds.

In addition, unlike other shares, the NFT does not have to offer the existing ownership group first refusal. Existing investors, on the other hand, would receive 10% of the proceeds from the sale of the NFT.

Tylis told Bloomberg that:

“If I’m correct, and other sports teams [create] assets using NFTs, I believe [this stake], which is the first of its type, will have actual, tangible, long-term value.”

The Necaxa NFT is Not Approved by Liga MX

The Mexican Football Federation, which oversees Liga MX, issued the following statement:

“Membership certificates may not be transferred or modified under any circumstances other than the express approval of the MX LIGA Assembly and confirmation of the Executive Committee and/or the General Assembly of the Mexican Federation of Soccer in accordance with our regulations,” says the statement.

They oppose the NFT because it may be sold without their permission, which is required by their ownership regulations. If the Necaxa NFT is allowed to be sold, it will almost certainly have to go via Liga MX first.

The Necaxa NFT Has the Potential to be a Turning Point for Blockchain in Sports

NFTs are already being used by a number of sports leagues, teams, and athletes. Through Top Shot and its partnership with Dapper Labs, the NBA has already shown its support for NFTs. Fanatics, Gary Vaynerchuck, and Michael Novogratz of Galaxy Digital are launching Candy Digital, an NFT firm. Bitski teamed up with Adidas and Jaguars quarterback Trevor Lawrence for an NFT.

This Necaxa NFT, on the other hand, is unique in that it sells a piece of a large franchise. It could be the beginning of a trend for sports teams to become DAOs. Necaxa is also unique in that it is not a US team, which could stoke international interest in NFTs and blockchain technology in soccer/football. The endorsement of the world’s most popular sport would be extremely beneficial to the NFT sector.

NFT

OpenSea and Kakao’s Klaytn collaborate to expand NFT across Asia

Klaytn, a Singapore-based public blockchain platform, and OpenSea, a non-fungible token (NFT) market, established a cooperation on Friday to support the Asian NFT ecosystem.

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  • In order to showcase Asian NFT initiatives to a worldwide audience, the alliance involves conference collaborations and ecosystem awards.
  • The largest NFT marketplace in the world supports four blockchains: Klaytn, Polygon, Solana, and Ethereum.
  • The blockchain subsidiary of South Korean internet behemoth Kakao, Ground X, founded the Klaytn Foundation.
  • On its central bank digital currency (CBDC) pilot project, the Bank of Korea collaborates with Ground X.

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Shopify Expands Online Retailers’ NFT-Gated Options

Brands are able to increase the exclusivity of their shops thanks to the e-commerce platform.

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The future of e-commerce, according to Shopify, is in NFTs.

As a new option for brands wishing to make their stores more exclusive, the online retail behemoth, which enables small businesses to construct customized e-commerce shops, is providing NFT-gated storefronts, Shopify announced on Wednesday.

In the Shopify introduction video, which includes a skating woman who passes through a pastel portal and transforms into a Doodles NFT, a voiceover urges viewers to “invite their communities into a world that acknowledges and rewards devotion.”

The video explains that token holders can access special shopping opportunities by connecting a cryptocurrency wallet, including early access to drops and limited collections as well as one-of-a-kind experiences and other surprises.

Only individuals with existing NFT collections are able to apply for early access to Shopify’s “gm” shop, which is a gated merchandise store and a play on the Crypto Twitter acronym for “good morning.”

However, those that haven’t received approval yet can still integrate NFT token-gating apps like Shopthru or Single into their Shopify sites.

Shopify announced that it has already collaborated with the Adam Bomb Squad, Doodles, World of Women, Invisible Friends, Superplastic, Stapleverse, and Cool Cats NFT collections to develop token-gated shops as part of its token-gated business launch.

Shopify is introducing “IRL” token-gating in brick-and-mortar stores in addition to online token-gating, which restricts access to certain merchandise to authorized NFT holders exclusively.

Why is this important? The future of Web3 commerce will focus on exclusivity, for one thing. NFTs, which are distinctive blockchain tokens that denote ownership over an asset, are increasingly employed as membership cards, tickets to events, and “keys” to open benefits, despite the fact that they are frequently oversimplified as digital art or “jpgs.”

Additionally, this isn’t Shopify’s first venture into NFTs: The business has been involved with Web3 since last year, when it announced the launch of NFT sales on its platform. Brands can mine and sell NFTs on Shopify to clients using the Ethereum, Polygon, Solana, or Flow platforms.

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OpenSea, beware—Uniswap is pushing into NFTs

The NFT aggregation platform Genie is being purchased by Uniswap Labs, the organization that created the Ethereum-based decentralized exchange Uniswap.

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In a Bankless interview on Tuesday, Uniswap founder and CEO Hayden Adams said, “We’re attempting to transfer what we brought to the ERC-20 market to the NFT sector.”

You can buy NFTs—individual blockchain tokens that represent ownership—on a variety of different marketplaces, such as OpenSea, LooksRare, or Coinbase NFT. However, few allow consumers to buy many things at once, and none provide aggregation tools that let traders view listings on competing marketplaces.

According to Uniswap Labs on Twitter, “We see NFTs as another form of value in the burgeoning digital economy, and it’s a no-brainer for us to integrate them.”

The NFT aggregator Gem, which also enables customers to acquire numerous NFTs in a single transaction, was purchased by OpenSea just two months prior to the announcement of its acquisition by Genie. OpenSea intends to incorporate NFT aggregation functions into its primary platform, just like Uniswap.

A new tab dedicated to NFTs will be added to Uniswap’s main website later this year as part of the company’s push into NFTs, according to a statement from the company. Additionally, NFTs will be included in its developers’ APIs and widgets.

Uniswap Labs intends to airdrop an unspecified quantity of the stablecoin USDC to Genie’s early backers as a way to commemorate its acquisition. By April 15th, USDC will be given to everybody who had utilized the platform at least once or owned a Genie Genesis NFT. (The business had earlier tweeted that Genie Gem owners were eligible for the airdrop.)

Uniswap entered the NFT market for the first time in 2019 with Unisocks, an NFT that granted holders access to a real pair of socks.

The largest NFT market, OpenSea, has a floor price for Unisocks of 13 ETH (about $15,300) at the time of writing.

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