The NFT sports experienced a big boom about a year ago, when not only football teams but also other sports organizations competed over who would release more interesting NFT editions and which would sell faster and more expensive. Through this procedure, the clubs tried to compensate for their profits, which were very limited due to the closing of the stadiums during the pandemic.
However, the current collapse of cryptocurrency markets has shown that this asset is completely illiquid and individual NFTs currently have no or minimal value.
Football NFTs have no value
The last event in which this year’s UEFA Champions League finalist and Liverpool’s football power issued a collection of nonfungible tokens, representing 24 of its best players, dealt a big blow to this market segment. However, there was absolutely minimal interest in this collection and 90% of the tokens were not sold at all. This event was aptly commented on by an academic specializing in football team accounting.
“If a huge club like Liverpool can’t sell the NFT, it shows the overall skepticism of the fans.”
This failure came despite the fact that this club was the first in its field to come up with the NFT player collection, following the example of major global brands such as Adidas and Playboy. Liverpool was also involved in the creation of the NFT Heroes Club which was condemned by fans as exploitation. A certain protection of the value of unique tokens is the possibility of setting a minimum selling price on the NFT market. Premier League players such as Michael Owen take advantage of this opportunity, whose set of unique tokens can hold its value even in a declining market.