How to Raise Millions with NFT Issuance: Case II.- Soccer Team

 

Introduction

In this article, we illustrate how to structure an NFT project for a sports organization. We will take the data of one of the most successful teams in Brazilian soccer, for didactic purposes.

Clube de Regatas do Flamengo is a Brazilian sports club based in Rio de Janeiro, in the neighborhood of Gávea:

  • Flamengo's traditional uniform consists of red and black striped jerseys with white shorts and red and black striped socks.

  • Flamengo usually plays its home games at the Maracana, Brazil's national stadium, since it was completed in 1950; the first Brazilian national soccer championship was played in 1959.

  • Flamengo established itself as one of Brazil's most successful sports clubs in the 20th century, winning eight championships.

  • It is the most popular club in Brazil, with more than 40.2 million supporters in 2020.

 

Project description

Economic aspects:

The club will issue 10,000 units of a collection of 62 images featuring the official photograph for each year from 1959 through 2022. The initial price is $620 per collection (individual NFTs at $10 each), for total proceeds of $6.2 million. Project costs:

  • Artistic design of the NFT 200,000 USD.

  • Blockchain technology development 500,000 USD.

  • Marketing and advertising firm 300,000 USD.

Note: Remember that this data is hypothetical and for educational purposes.

Technical aspects of blockchain development:

  • Global data storage:

We store each image and its corresponding information (metadata) in the Interplanetary File System (IPFS), consisting of thousands of computers around the world, ensuring that no person, entity or government can alter the information.

Metadata or information of an NFT stored in IPFS

Image of an NFT stored in IPFS

  • Blockchain storage:

The professional blockchain development team builds the ERC721 Smart Contract and deploys it on the Ethereum blockchain or other compatible network (Ethereum virtual machine consisting of thousands of synchronized computers), which makes this network independent of individuals, entities and governments. The 2017 NFT is:

crFlam17NFT

We can observe the data in the Etherscan blockchain explorer with the Smart Contract address.

  • Presale:

Flamengo's team, with the advertising and marketing plan, obtains the list of buyers, each of whom must have an account in a crypto wallet such as Metamask:

0x0245Ed33F7118BF6b373Ac84ba79Ff68F719E7fD

 

Metamask Wallet

  • Assignment of NFTs:

Once Flamengo receives payment from fans and supporters, the technical team proceeds to send the NFTs to the respective accounts.

  • Received NFTs:

Each customer will have the NFT, and the amount purchased in his wallet. In the following image, the owner of this wallet bought 1 NFT of 2017:

crFlam17NFT

  • List the collection:

Finally, the project can list the NFT collection on a Marketplace account such as Opensea, Rarible, SuperRare (there are a hundred), in order to expose it and wait for it to rise in price for later sale. Here we illustrate part of the collection, 4 NFT out of a total of sixty-two.

 
Carlos Sampson