- The NFTs are based on the league’s 32 teams and will be minted on Flow.
- Each club has 52 NFTs made in its honor, and each NFT is selling for $52.
- The collectibles are currently available on the NFL’s Polygon-based NFT marketplace.
The National Football League (NFL) has released a new collection of non-fungible token (NFT) collectibles to mark the upcoming Draft, which will take place from April 28 through 30. A report unveiled this news earlier today, NFT collectibles draw inspiration from the league’s 32 teams. The NFL created 52 NFTs based on each team.
According to the report, each NFT in the collection resembles a unique playing card. Each piece is going for $52. In a change of pace, the NFL decided to mint the Draft NFTs on Dapper Labs’ proprietary blockchain Flow instead of Polygon, which the league used for the Top Shot and All Day NFT drops.
The NFL named the NFTs “virtual commemorative tickets” for the upcoming Draft. However, these collectibles will not serve as passes to the live event, which will be held at Caesars Forum in Paradise, Nevada. The collection is currently available on the league’s Polygon-based marketplace, which launched in November 2021.
While the NFT is selling the NFTs at $52 apiece, a representative disclosed that Inner Circle guests for each team would receive NFTs during the first two days of the Draft. These NFTs will be tied to an on-site prize promotion.
NFL warms up to blockchain technology
This news comes after the NFL walked back on its decision to bar teams from inking deals with web3 companies. According to the March 22 memo, the league offered teams limited permission to seek partnerships with blockchain companies. However, the NFL said it would continue prohibiting clubs from directly teaming up with crypto companies.
Moreover, the NFT said even the partnerships with blockchain firms should not exceed three years. In doing so, the league aims to enable promotional relationships with the burgeoning web3 industry without excessive exposure to regulator or brand risk.
The memo read,
In this evolving regulatory environment, it remains essential that we proceed carefully when evaluating potential commercial opportunities involving blockchain technologies, and conduct appropriate diligence on all potential partners and their business models.
Lifting the ban on partnerships with blockchain firms was a highly-anticipated move. Barely a month after the NFL published the memo, Dallas Cowboys became the first team to ink a deal with a blockchain company. Dallas Cowboys partnered with Blockchain.com on April 13 in a deal that saw the firm become the team’s official digital asset partner.
Additionally, 13 NFL teams announced partnerships with Socios.com, a renowned fan token platform. These are Atlanta Falcons, Baltimore Ravens, Chicago Bears, Cleveland Browns, Los Angeles Chargers, Los Angeles Rams, Miami Dolphins, New York Giants, Philadelphia Eagles, Pittsburgh Steelers, San Francisco 49ers, Tampa Bay Buccaneers, and Washington Commanders.
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