Home SPORTS GIST Football LA LIGA LAUNCHES NFT DIGITAL CARDS TO TRADE PLAYERS

LA LIGA LAUNCHES NFT DIGITAL CARDS TO TRADE PLAYERS

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Farouq Oduola A.

The Spanish league has entered the blockchain world by releasing legally licenced digital player cards that can be bought and sold online.

The league announced a partnership with fantasy football platform Sorare on Thursday to launch cards based on non-fungible tokens, or NFTs.

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Fans, collectors, and fantasy players will be able to exchange and play with all of the league’s players’ digital cards, creating fresh revenue for the teams and allowing buyers to profit from the digital assets.

The market’s supply and demand, as well as the players’ performances and activities, influence the value of the cards.

Sorare, a digital card marketplace with over 500,000 registered users and more than 180 football clubs, ranks the Cristiano Ronaldo card as the most costly at €245,072 ($289,000).

The bid for Antoine Griezmann, who has returned to Atletico Madrid, is worth €95,498 ($112,900).

According to Sorare, the Spanish league is the first of the top five to negotiate a substantial NFT agreement, which includes Griezmann as an investor and Gerard Pique as a strategic adviser.

“We are always looking for new and exciting ways to offer our fans new and exciting experiences and to broaden the appeal of our competition,” said Javier Tebas, president of the Spanish league, adding that the partnership “enables us to reach new audiences globally and gives existing fans additional ways to get involved with the players and clubs they love.”

LaLiga, which recently lost Neymar, Ronaldo, and Lionel Messi, has been attempting to challenge the Premier League’s global dominance.

Because of blockchain technology, which creates certificates of authenticity for digital things, NFTs have become increasingly popular in the arts and collecting world “Secure and transparent blocks” of information or transactions

The data is saved on a global network of computers without the requirement for a central system or authority to keep track of it.

The information can’t be altered, and the blocks are “chained” together using cryptography to form a protected and public digital ledger.

Barcelona, Atletico Madrid, Paris Saint-Germain, Juventus, AS Roma, Liverpool, and Bayern Munich are among the top clubs in the world to use blockchain technology.

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