Thumbs down for the planned sale of Liga MX team stake through NFT

The group that owns half of the Liga MX Team, a Mexican professional football club, plans to sell a 1% stake to interested bidders through NFT. 

The 1 percent stake is planned to be auctioned on the OpenSea market at a starting price of $1.3 million. Winning bidders will have the right to have a share of the football club’s revenue, just like other shareholders, minus the voting privileges. 

The group that owns half of the team includes Miami Heat’s Victor Oladipo, soccer star Mesut Ozil and DC United’s Al Tylis. 

In an interview with Bloomberg, Tylis expressed his enthusiasm and said: “I believe that [this stake], which is the first of its kind ever, will have real, tangible, long-term value.” 

But unfortunately, the Mexican Football Federation has blocked the planned NFT auction. 

Why block a lucrative opportunity?

The plan was disapproved because NFT could be sold without the approval of the federation, which is a major requirement under ownership rules. 

Also, in an official statement that the federation has released, it said that “in accordance with our regulations, membership certificates may not be transferred or modified under any figure,” and as of now, it includes NFT transactions. 

Massive potential

What makes the football team’s situation different from the other NFT ventures is that it is attempting to sell a far more valuable asset: an actual stake from a lucrative team. 

And even though Mexico’s top football authority has blocked the plan, the idea of selling a stake through non-fungible tokens would certainly spread in the sporting world and create new, profitable ventures. 

If it proves to be lucrative, then businesses outside the sports circles would certainly follow suit. 

 

Image courtesy of Cointelegraph News/YouTube

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