Not for tyre kickers (NFTs)
Thought I’d be flippant in titling this article. But double-entendre is to suggest that my path is to embark on the journey – and my musings are for those that want to do same and actually act to join web 3.0 and metaverse.
I first wrote about the meta and metasphere earlier in the Year and was delighted that it was syndicated and shared by my good friend and scholar, Prof.Dr. Sebahattin Devecioğlu.
Every day is a school day as the subject matter is still in its infancy yet some interesting content that I’ll share with readers every time I speak out.
I’m a proud Stockport County supporter – and note that our EPL “Noisy Neighbours” have realised the future possibilities – and scope where virtual and real worlds intertwine. Both City and United are tackling meta-projects and resourcing of personnel has taken place. Also, in the North West, the Merseysiders, Liverpool, have had more recent airtime. It created and auctioned NFTs (non-fungible tokens) and digital assets only last Month. Less than 6% of them were sold yet the Club still generated £1.1M.
Nike is an interesting invader of this space and has with RTFKT, introduced the first RTFKT x NIKE CRYPTOKICKS NFT: The RTFKT X NIKE DUNK GENESIS CRYPTOKICKS Sneaker Powered by DRM OS and Skin Vial Tech. The clothing and footwear giant acquired the 2-year-old agency and nurtured this digital training shoe. This collection of “digital sneakers” were leaked on Discord and Twitter. The shoes, called Nike Cryptokicks, are modelled after the Nike Dunk sneaker and mark the brand’s long-awaited entrance into digital clothing. So far sales are in excess of $11M. 20,000 NFTs are in this initial collection.
Another story that caught my attention was the Bored Ape Yacht Club (BAYC). BAYC is a collection of 10,000 Bored Ape NFTs—unique digital collectibles on the Ethereum platform. The family of Bored Apes increase in value through use of the Yacht Club membership card, and grants access to members-only benefits. It is the latter that defines the criteria for success in NFTs and especially in the sports applications.
“The value is not in the imagery itself as a collectible, but the
prescribed or societal value that it is associated with.”
We have taken our first plunge into NFTs at Stockport Volleyball. One of the fastest growing clubs in the UK and Winners of the Men’s National Shield defeating London Aces in the Final this Year. Every day in the metaverse is a learning one – and we have taken our time to choose the correct partner that has synergy and compliments our strategic marketing, sponsorship and fundraising expertise at ACROBAT FCSM. Furthermore, in that our volleyball club is the pilot, we have established the venture with our German partners to offer immersion into the meta-world without any upfront fees. The ‘no risk’ incentive is based on a financial model whereby only a small, single digit percentage of commission is due only on realization and sale of the NFTs. Attractive proposition eh, we certainly think so. So our tried and tested illustrator has been commissioned and we are working on the list of membership benefits to add-significant value to any investment as well as aligning with marketing strategy and collateral for the Club, our sporting clientele and business as a whole. Watch this space, we’re on our way!
Adrian Stores is Director and CEO at strategic marketing, partnerships, sponsorship and fundraising agency, ACROBAT FCSM. Award winning. Established 1995.
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