Animoca Brands and Queens Park Rangers Football Club announced that they will develop and launch non-fungible tokens (NFTs) based on the popular English football team, starting with sets of limited edition collectibles to be launched later in the year.
Animoca Brands and the club’s holding company, QPR Holdings Limited, entered into a partnership agreement providing Animoca Brands with a global license to produce and publish NFTs for Queens Park Rangers Football Club.
Recommended AI News: AI Robotics Startup Mech-Mind Completes Series C Funding Led by Tech Giant Meituan
Queens Park Rangers, also known as QPR, was founded in 1882 as Christchurch Rangers. The team was officially renamed Queens Park Rangers after a merger with St. Jude’s Institute in 1886. The club competes in the English Football League Championship, the second tier of English football.
NFTs are digital assets and collectibles with authenticity, rarity, scarcity, ownership, and other properties that are independently guaranteed, verified, and secured on blockchain. Unlike most digital content, which is temporarily provided to users on a licensing basis, NFTs are truly ownable – just like physical collector’s cards. Their characteristics allow NFTs to attain significant value as digital collectibles and sports memorabilia.
Furthermore, an NFT is owned by its holder regardless of any decisions taken by any other party, including the NFT’s developer. Owners of NFTs are free to do anything they want with them: sell them on a marketplace, trade them for other items, use them in supported products, or simply collect and display them.
Yat Siu, chairman and co-founder of Animoca Brands, commented: “We are thrilled by the prospect of collaborating with Queens Park Rangers and look forward to creating further engagement opportunities for the fans of this distinguished football club.”
Euan Inglis, commercial director at Queens Park Rangers, said: “We have launched a number of innovative digital products over the course of the last two seasons. We have taken a keen interest in blockchain, NFTs and tokenisation, which represent a hugely exciting area for football clubs. The opportunity to create digital assets that are unique and truly ownable by their holders really is particularly appealing for sports teams. Working with market leader Animoca Brands, whose track record speaks for itself, was an opportunity we could not miss. The concepts that we will develop through this partnership will create some real excitement with our fanbase.”