How To Launch An NFT – Key Tips For Sports Organisations
We may be in the middle (or the beginning) of a ‘crypto winter’ – but brands and organisations of all sizes are continuing to explore ideas for launching non-fungible tokens (NFTs). From digital collectibles and NFT season tickets, to fan tokens and exclusive merchandise, the sports industry has been leading the charge in how this technology can be leveraged in innovative ways and provide real value for fans.
Nevertheless, alongside the considerable opportunities that are available for brands entering web3, there are also a number of legal and reputational risks that need to be considered. There have been several high-profile flops, regulatory investigations and fan backlash arising from ill-conceived or poorly executed NFT launches, and brands will be keen to avoid history repeating itself.
This article provides key legal and commercial tips that sports organisations (brands) should consider before launching an NFT.
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- Tags: Commercial Law | Football | Intellectual Property | NFT | Regulation | United Kingdom (UK)
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Nick is a partner in the Entertainment and Media Industry Group and a member of the On Chain: Reed Smith’s Crypto & Digital Assets Group. He focuses on digital media, music, blockchain and NFTs, advertising and video games.