Mobile Streams signs €3.7m NFT contract with La Liga's Cádiz CF
( ), a mobile content and data intelligence company, has announced a new 5-year contract to be the exclusive provider of NFT products for the Spanish La Liga football club Cadiz.
Mobile Streams said it plans to produce a wide range of NFT products for Cadiz. The NFTs will be sold via a primary marketplace that Mobile Streams is creating for Cadiz, to be accessed via digital entry points such as the Cadiz website and social media accounts.
Additionally, the NFTs will be sold via Mobile Streams' telco contracts globally, its LiveScores sites and apps, and the MOSMetaverse website.
Under the terms of the contract, and Cadiz have agreed a target revenue over the 5-year term of which ' share is approx. €3.7m. notes that the figure is a target and not a forecast. Revenue from the NFTs will come from both the sale price and a royalty on each trade of c. 5-10% the sale price. The agreement also requires to make an initial cash payment to Cadiz, which is well covered by ' existing cash position.
Mark Epstein, CEO of Mobile Streams, commented: "We are delighted to have signed this contract with Cadiz. They are a hugely popular team with a great fan base. It's a privilege to be working with such a great club as our first in La Liga."
Enrique Pérez, Director of Cadiz, commented: "We are very pleased to be partnering with Mobile Streams for our NFT's. We can't wait to deliver a new generation of digital merchandise to our fans. Products that drive engagement and participation with the team, along with additional revenue for the club. We look forward to a long and successful partnership."
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Another major contract win for , this time with a European football club, coming only a month after the company scored a US$3.7m contract with Extreme Fighting Championship. This followed November's $8.8m 5-year contract with Mexico's Necaxa FC, October's US$3.7m contract with Mexico's Atlante FC, as well as the Pumas and Mexican National Team deals. also announced in July two major NFT license deals with PAS Kisisel Asistanlik Hizmetleri and Andrea Olmedo Lopez. The company said in August it was in discussions for 30 additional NFT deals.
Investors have become accustomed to regular multimillion contract announcements by as the company continues to solidify its status as a major provider of licensed NFTs, with its NFT division expected to exceed all other revenue streams by the end of FY23.
Cadiz competes in Spain's La Liga, the country's top tier football club, and one the world's top sporting leagues. Last year Cadiz reached the quarter finals of the Copa del Rey, Spain's top cup competition.
Today's announcement also expands ' HeroesNFTclub brand into European football, part of ' strategy to increase the reach and strength of its brand across different vertical sporting revenue streams. With last year's launch of HeroesNFTclub, is now both an NFT producer and marketplace provider, presenting additional revenue opportunities.
In its FY22 update reported revenue of £1.1m, an increase of 180% from the £395K it reported in FY21, with a strongly weighted 2H22 delivering revenue of £810K, a 270% increase YoY from £219K in 2H21. June 2022 alone returned revenue of £181K, representing a sequential monthly increase of 62% since ' last performance update on 1 March 2022. The strong trend of revenue growth is expected to continue into 2023.
The global NFT market is expected to reach US$122bn by 2028, with more than US$17bn in sales in 2021 and US$35bn expected to be generated this year, with the sports NFT market the fastest growing sector within this space. ' string of large sports contract wins over the past year demonstrates it is well positioned in the sector.
shares rose 4% on the news.
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