It should have come as a surprise, but thanks to an attentive PSV fan, it became clear before the release of the new away jersey that the football club was starting a new NFT project. Where many NFT projects with Noorderzon disappear with huge revenue, the Eredivisie club wants to approach it differently. The club is aware of the negative nature of NFTs, but tries to set a positive example. “There are more bad examples than good ones,” said Damian Bott, the club’s Media and Marketing manager.
The text ‘nft landing page’ in the live stream link for the away jersey launch made it clear a few hours earlier that PSV want to launch NFT. While the NFT hype has largely died down at this point, the football club hopes that parts of the NFT world will remain. ‘We are still in the early days of Web3.0 and all the developments that come with it. But from the DNA of PSV, the innovative character that we got when it was founded by Philips, we want to continue it,’ says Bott. ‘Initiatives come and go in the crypto landscape. We believe that things will remain. The club wants to prepare for it with this project.
Have no idea what NFTs are? Scroll down for an explanation!
Of course, PSV is a commercial organization and the club also sees it as a future revenue model, admits the marketing manager. But the purpose of these NFTs, which is based on the away jersey presentation, is to introduce followers to this part of the crypto world. Of the 101 NFTs that have been developed, the club will raffle 100 NFTs among fans who have purchased the away jersey. Those followers can then possibly keep the digital collector’s item in their possession or sell it. With this, the club wants to draw a resemblance to the old football pictures. Bott: ‘If elected, we will ensure that the NFTs are transferred free of charge. For example, they do not have to own any cryptocurrency (which typically requires an NFT to be purchased, ed.). If you don’t like NFTs or are even against them, we don’t try to force you. It’s a low-threshold way to let the supporter come into contact with NFTs, says the marketing manager.
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In this way, PSV also wants to remove the negative character that digital objects now have. ‘People sometimes don’t understand it, it’s complex and a show away from your bed. In fact, there are more bad examples than good examples, none of which helps. Therefore, we must first update our knowledge so that the attitude towards NFTs is a little more positive.”
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The 101 NFTs to be released by PSV, in collaboration with shirt sponsor Puma, are based on PSV’s away kit presentation. That filing is divided into 100 NFTs. The only remaining NFT is the ‘masterpiece’ and represents the entire presentation as a ‘piece of art’. We’re going to put it up for auction right now, to learn from it.
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PSV is also transparent about its own interests behind NFTs. For example, PSV, together with Puma and the developer of the NFTs, receives ten percent of each transaction if an NFT is resold. NFTs are also meant to protect creators in some way. So the artists also share in any financial success. We think it’s also important that this is transparent from the start.”
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For supporters, it is not the intention that an NFT will remain a useless piece of digital property that can eventually be sold. PSV is also offering owners free access for two people to the PSV museum for one year, where the artwork can be viewed via videomapping.
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‘miss the mark’
The football club will ensure that the plan does not backfire and damage the club’s name. ‘We are careful with the initiatives we start. Because we see that if we fail once, it will be very difficult for things to work again. It would be a shame,” Bott said.
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NFT stands for Non-Fungible Token, which basically means that it is a digital object that is on the blockchain and therefore not replaceable. However, NFTs work differently in many cases. Often, it is not so much the digital objects that you buy, but just a receipt that you buy. That receipt contains a link to the digital object. Nowhere is it recorded what the object is like and what characteristics it has.
NFTs can be bought and sold at major trading venues, where one has to pay with cryptocurrencies like Ethereum. Often you have to pay high costs for it. The money almost always goes to the developer of the NFT if the product is resold. This fact makes it interesting for artists, who can always receive compensation for the work they have done.
Still, there are plenty of scams around NFTs. Due to the great publicity that is currently being given, many projects are being developed to make money quickly. There is a lot of social media promotion going on for a project, which builds buzz and people want to be there quickly. If all the NFTs are subsequently sold, the team will hear nothing more and the promises that have been made will not be kept. Buyers are then left with worthless NFTs.