PSV also participates in the NFT hype, but guards itself against the risk of injury

TechnologyJune 17, ’22 4:05 p.m.AuthorAaron Loupatty

It should have remained a surprise, but thanks to an attentive PSV supporter, it was clear before the launch of the new away jersey that the football club started a new NFT project. How many NFT projects with Noorderzon disappear with large revenues, the Eredivisie club wants to approach it differently. The club is aware of the negative nature of the NFTs, but is trying to set a positive example. “There are more bad examples than good ones,” said Damian Bott, the club’s marketing and media manager.

The new PSV away jersey was presented at the Van Abbemuseum on Thursday night.  Parts of the presentation are converted to NFTs.
The new PSV away jersey was presented at the Van Abbemuseum on Thursday night. Parts of the presentation are converted to NFTs. PSV

The text ‘nft landing page’ in the link to the livestream for the launch of the away jersey made it clear a few hours earlier that PSV want to release NFTs. While the NFT hype has largely cooled off at the moment, the football club expects parts of the NFT world to remain. ‘We’re still at the very beginning of Web3.0 and all the development it entails. But based on PSV’s DNA, the innovative character we got when it was founded by Philips, we will continue to do so ‘, says Bott. ‘Initiatives come and go in the crypto landscape. We believe that things will stay the same. ‘ The club wants to prepare for this with this project.

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, the marketing manager acknowledges. But the purpose of these NFTs, which are based on the presentation of the away jersey, is to introduce the followers of this part of the crypto world. Of the 101 NFTs developed, the club will be handing out 100 NFTs among the supporters who have purchased the away jersey. Those followers can then possibly keep the digital collector’s item in their possession or resell it. With this, the club wants to draw a resemblance to the old football pictures. Bott: ‘If selected, we will ensure that NFTs are transferred free of charge. For example, they should not own any cryptocurrency (which usually requires the purchase of an NFT, ed.). If you do not like NFTs or even are against them, we will not try to force it on you. It’s a low threshold way to get the supporter to get in touch with NFTs, says the marketing manager.

Also read | Eredivisie players make money on their own matches in crypto-gambling

Negative character

In this way, PSV also wants to remove the negative character that the digital objects now have. ‘People sometimes do not understand it, it’s complex and a show far from your bed. In fact, there are more bad examples than good examples, none of which help. We must therefore first update our knowledge to make the attitude towards NFTs a little more positive. ‘

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The 101 NFTs that PSV will release – in collaboration with jersey sponsor Puma – are based on the presentation of the PSV away jersey. That presentation is divided into 100 NFTs. The one NFT left is the ‘masterpiece’ and represents the whole presentation as a ‘work of art’. ‘We’ll put it up for auction right away, to learn from it.’

Podcast | Cryptocast: Is the NFT hype over again?

Income

PSV is also transparent about its own interests behind the NFTs. For example, PSV, together with Puma and the developer of the NFTs, will receive ten percent of each transaction if an NFT is resold. ‘NFTs are also meant to protect the creators in a way. So the artists also have a part in any financial success. We think it is important to make this transparent in advance as well. ‘

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For followers, an NFT is not meant to remain a useless piece of digital property that can eventually be sold. PSV also gives owners free access for two people to the PSV Museum for a year, where the artwork can be seen through video mapping.

Also read | Broadcaster PowNed wants to sell NFTs; supervisor knows nothing

‘miss the goal’

The football club will make sure that the plan does not have a negative effect and damage the club’s name. ‘We are careful about which initiatives we start. Because we see that if we miss the mark once, it becomes very difficult to get things going again. That would be a shame, “Bott said.

Also read | FC Groningen duped by dubious bankrupt crypto company

    NFT means non-fungible token, which basically means that it is a digital object that is on the blockchain and therefore cannot be replaced. Yet, in many cases, NFTs work differently. It is often not so much digital items you buy, but just a receipt you buy. That receipt then contains a link to the digital object. Nowhere is it recorded what the object looks like and what properties it has.

    NFTs can be bought and sold at major trading venues where one has to pay with cryptocurrencies such as Ethereum. High costs often have to be paid for this. Money also almost always goes to the developer of the NFTs 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 is a lot of scam around NFTs. Due to the huge hype that is going on at the moment, many projects are being developed to make money fast. There is a lot of promotion going on on social media for a project, which is creating hype, and people want to be there fast. If all NFTs are subsequently sold, then the team will no longer hear and the promises made will not be fulfilled. Buyers are then left with worthless NFTs.

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