Liverpool fans

8 June 2022 - 2:51 PM

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Virtually everything football clubs have done with NFTs is wrong: Here’s what they need to do about it

  • Tim Mangnall, CEO of the NFT agency Capital Block, says that football clubs have chased short term and unrealistic profits over long term utility with digital asset strategies, stifling growth and sowing mistrust.
  • Mangnall says that NFTs should be used primarily to engage new and digital-centric younger audiences but that there is money to be made.
  • Why it matters: NFTs and crypto have gone some way to filling post-Covid losses and the gap caused by restrictions on gambling sponsorships. But there is vast scepticism.
  • The perspective: Liverpool made a number of mistakes in their much-criticised NFT launch in April, but they've actually sold more NFTs than any club anywhere in the world.

Whether you love them or hate them; view them as an integral part of football’s post-Covid economic recovery, or are simply baffled by the very notion of them, Non Fungible Tokens (NFTs) have become an inescapable part of the sports business world over the past three years.

And so, when Off The Pitch meet Tim Mangnall, CEO of the NFT agency Capital Block, which works with clubs such as Galatasaray, AS Monaco and Legia Warsaw, it is with the time

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