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• NFT investors jointly buy the English football club in the fourth division
• Crawley Town FC aim to rise to the Football League with the help of the supporting crypto scene
• adidas backs NFT sports project – adidas stock urgently needs positive news
A report dated April 7, 2022 attracted a lot of attention in NFT and football circles: WAGMI United, a merger of various NFT investors, bought English fourth division club Crawley Town FC from West Sussex. What will investors gain from 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, incidentally short 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) 27 June 2022
WAGMI United continued in the tweet on 27 June 2022: “Our model allows local Crawley Town supporters to have a voice: a drastic change from the absentee leaders of the past.” The club is said to have an active fan base to take part in shaping the squad: “A key pillar of our vision is a supporter base without borders. We have seen firsthand the power of digital communities taking over the world through NFTs. We bet about 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 released an NFT pool where interested followers can purchase NFTs from the team.
Long-term goal: Entry into the top English football league
WAGMI United has big goals. The club Crawley Town FC, which has been in the lower English amateur ranks or in the lowest professional leagues for decades, is to be promoted to the top football league in England, the Premier League. NFT investors take a long-term view of 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 the 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 certain at least once. If this does not happen, then NFT investors, who among other things may keep NFTs of the team, may leave the project.
adidas supports WAGMI United
At the end of June, WAGMI United could 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 sport and culture. We couldn’t have imagined a better start to our adventure than with a brand, have such a rich history in football and competitive sports,” WAGMI United wrote.
The fourth division club’s adidas sponsored kits were recently unveiled. In turn, WAGMI United offers adidas the opportunity to enter the growing NFT market and enjoy first mover advantages. In addition, a commitment to the English fourth division club for the sportswear giant, which has a turnover of more than 20 billion euros annually, should certainly be financially manageable without the major problems. The opportunities therefore appear to outweigh the risks for adidas. Nick Craggs, Head of Football at adidas, was delighted 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 supply the club with adidas products, Being 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’ wider commitment to digital, as adidas Chief Marketing Officer Erika Wykes-Sneyd pointed out: “In 2021 we started our journey into new digital spaces by empowering our creatives, athletes and… Leading fans with trust in the metaverse This partnership with WAGMI United opens up new opportunities in eSports for fans to go from fans to true stakeholders in a team, with the goal of creating a deep sense of community and belonging around the beautiful game of creating “.
Such is the case with adidas stock
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 are hitting the stock hard. Similar to competitor Nike, adidas must also register a drop in profits. Adidas shares are currently trading at just EUR 164.54 (from the closing price on July 6, 2022) and are thus around 50 percent below the previous record high reached by the stock on August 4, 2021 at EUR 336.25. Whether adidas can soon return to its former strengths will ultimately depend on further economic developments in the important sales market of China.
Gearing must be between 2 and 20
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