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NFT investors join forces to buy a fourth-tier English football club
Crawley Town FC aims to enter the Football House of Lords using the supporting crypto scene
adidas supports the NFT sports project – adidas shares urgently need positive news
A report dated April 7, 2022 attracted much attention in the NFT and football circles: WAGMI United, a coalition of various NFT investors, bought the English fourth division club Crawley Town FC from West Sussex. What will investors achieve with this? And why is adidas, an established German sports equipment manufacturer from Herzogenaurach in Franconia, interested in the digital NFT project?
WAGMI United will “give fans a voice”
Similar to the decentralized Web 3.0, WAGMI United, also an abbreviation for the motto “We’re All Gonna Make It”, which is common in the crypto scene, also wants to create decentralized, democratic structures in the football club Crawley Town. FC.
Today we tell our story and share our vision of how NFTs will shape the future of sports 🧵👇
– WAGMI United (@WAGMIUnited) June 27, 2022
WAGMI United continued in the tweet on June 27, 2022: “Our model allows local Crawley Town supporters to have a voice: a drastic change from the absent leaders of the past.” The club is said to have an active fan base that can help shape the squad: “An important pillar in our vision is a fan base without borders. We have seen the power of digital communities that take over the world through NFTs. We focus on a future where being a fan is no longer limited by geographical location “. So some parallels can be drawn with the main characteristics of cryptocurrencies and NFTs. Yesterday, Wednesday, WAGMI United launched an NFT collection where interested followers can purchase NFTs from the team.
Long-term goal: entry into the best English football division
WAGMI United has big goals. The club Crawley Town FC, which has been in the lower English amateur leagues or in the lowest professional leagues for decades, is to be promoted to England’s best football league, the Premier League. NFT investors have a long-term view on this: “We are realistic – bringing Crawley Town to the Premier League will not happen overnight. We want to democratize the club and allow our community to vote on decisions that will shape the future of the club club: from the food on match day to the board members. ” At the end of next season, promotion to the third English league (League One) must be secure at least once. Should this not happen, then NFT investors who, among other things, can keep NFTs of the team, can leave the project.
adidas supports WAGMI United
At the end of June, WAGMI United was able to announce that it had landed a major player in the sports industry as a sponsor, adidas. The NFT club praised the DAX group via Twitter: “We are proud to work with adidas, a brand that has always pushed the boundaries of sports and culture. We could not have imagined a better start to our adventure than with a brand, which has such a rich history in football and competitive sports, “wrote WAGMI United.
The fourth division club’s adidas-sponsored kits were recently unveiled. In return, WAGMI United offers adidas the opportunity to enter the growing NFT market and enjoy first mover benefits. In addition, a commitment to the English fourth division club for the sportswear giant, which has a turnover of more than 20 billion euros a year, should certainly be financially manageable without the big problems. The possibilities therefore seem to outweigh the risks for adidas. Nick Craggs, Head of Football at adidas, was pleased with the collaboration: “Our partnership with WAGMI United has given us the opportunity to work with Crawley Town FC. We are delighted to be able to provide the club with adidas products, To be a part of his community and support his future aspirations in football, “the WAGMI United website quoted the manager as saying.
Supporting Crawley Town FC is part of adidas’ broader commitment to the digital, as adidas Marketing Manager Erika Wykes-Sneyd pointed out: “In 2021, we started our journey into new digital spaces by supporting our creative, athletes and … Leaders fans with confidence in Metaverse This partnership with WAGMI United will open up new opportunities in sports for fans to go from fans to real stakeholders in a team, with the aim of creating a deep sense of community and belonging around the beautiful game of create.”
Such is the situation with adidas shares
The adidas stock can also use such a new push in a growth market as soon as possible. The traditional German group has been in a constant downward trend since August 2021. A previously very high valuation, global supply bottlenecks and especially the Chinese corona lockdowns hit the stock hard. Like competitor Nike, adidas must also record a drop in profits. The Adidas share is currently trading at only EUR 164.54 (from the closing price on July 6, 2022) and is thus about 50 percent below the previous record high that the share had reached on August 4, 2021 to EUR 336.25. Whether adidas will soon be able to return to its former strengths depends not least on the further economic development of the important sales market in China.
Gearing must be between 2 and 20
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