Premier League Considers Partnership With NFT Platform

Premier League Considers Partnership With NFT Platform
Photo by Tim Bechervaise / Unsplash

According to a report in The Times, The English Premier League—one of the most important football leagues in the world—is mulling over the idea of partnering with a crypto platform that provides Non-Fungible Tokens. This is revealed through a leaked minutes of the most recent meeting of the league's governing body and fans representatives that the body is considering getting involved with NFTs. However, sources say the planned approach will be deliberately "slow and cautious." This is quite behind the fan model already provided by platforms like Socios.

Many Premier League teams have already adopted the Socios model, launching tokens that fans can buy on the platform. With these tokens, fans of Premier League clubs can receive prizes, gain access to premium experiences, and even take part in votes on selected club issues. If the reports are to be believed, then the Premier League is perhaps looking to follow in the footsteps of the Spanish football league (La Liga). In September, the Spanish La Liga collaborated with a French-based digital soccer collectibles platform, Sorare. The collaboration with Sorare would make NFTs of all the players in the league for fans to purchase and use and trade in fantasy competitions.

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In the United States, deals have already been reached by the National Basketball Association and the National Football League with Dapper Labs to create official NFTs. In contrast, Major League Baseball has sealed a deal with Topps for a similar service. Also, according to the minutes of the recent meeting of the Premier League governing body and fans representatives, the league will be investigating the growing links between Crypto companies and Premier League clubs. Chief Executive of the Premier League Richard Masters is expressly said to be interested in the matter.

Official shirt sponsors of Premier League Watford, is a Crypto betting company. Southampton has a training shirt deal with educational company Learn Crypto. Crypto exchange CoinJar also happens to be one of Brentford's sponsors.

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