Manchester United Gifts First-Ever NFTs to Fans As It Plans Web 3.0 Entry on Tezos (XTZ)

The Red Devils score a deal with Tezos in spite of the continuing crypto market bleed.

Manchester United Gifts First-Ever NFT To Fans, Plans Web3 Entry On Tezos (XTZ)

Founded 144 years ago, English soccer giant Manchester United F.C., nicknamed “The Red Devils”, is gearing up to enter the Web 3.0. Man United has joined forces with the Tezos (XTZ) blockchain to release digital sports memorabilia in the form of non-fungible tokens (NFTs), as well as a social hub. Additionally, the first ‘United x Tezos’ NFT collection will be given away for free.

Manchester United Opens Official Discord

With the inaugural NFT collection set to drop “soon”, the partnership is not the Red Devils’ first agreement with Tezos, as the two signed a $20 million training kit sponsorship back in February. In preparation for the release event, the English soccer powerhouse has invited fans to its newly launched, official Discord channel. According to a press release, “members of this global community will be able to engage with the Club, players, legends and thousands of other like-minded fans.”

The initiative is being led by the Tezos blockchain, which currently ranks 46th on the global crypto charts by market capitalization. Tezos’ native cryptocurrency, Tezos (XTZ), has enjoyed a slight price increase of 1.4% in the last 24 hours, and is priced at $1.04 at the time of writing, according to CoinGecko. However, the Tezos (XTZ) Altcoin, along with much of the broader crypto market, has been unable to evade the brutal bears of the crypto winter, with losses of 24.2% for the last 7 days.

Ultimately, with the crypto market still bleeding, the timing of the deal has drawn scrutiny from soccer fans on Twitter. However, F.C. Manchester United executives, along with the team behind Tezos (XTZ), insist that it’s all about adoption and utility—and Web 3.0 is sure to be the go-to place for sports fans around the globe to connect and collect rare memorabilia.

On the Flipside

Why You Should Care

Sports memorabilia is expected to grow ten times by 2032, when the market cap of sports collectibles is estimated to be at $227 billion, of which sports NFTs represent a significant chunk.

Read more about the latest soccer NFT drops as the FIFA World Cup 2022 nears kick-off:

Visa and Crypto.com Launch NFTs for Soccer Fans Ahead of the FIFA World Cup 2022

Lionel Messi Joins Fantasy Soccer NFT Game Sorare

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.