Business
Mobile Streams signs NFT contract with Necaxa FC
Mobile Streams signs NFT contract with Necaxa FC.
About this update from Gana Media Group Plc
[{"type":"text","content":"\n \n \n 10th November 2022\n \n \n \n Mobile Streams plc\n \n \n \n \n (\"MOS\" or \"the Company\")\n \n \n \n \n \n \n \n \n \n Mobile Streams signs NFT contract with Necaxa Football club\n \n \n \n \n \n \n \n \n \n \n \n Mobile Streams plc, the AIM quoted mobile content and data intelligence company, is proud to announce it has signed a 5-year contract to be the exclusive provider of NFT trading cards, collectable and other agreed NFT products for Necaxa Football club (\"Necaxa\").\n \n \n \n \n \n Founded in 1923 Necaxa are one of Mexico's most popular teams, playing in the top division, Liga MX. They play in the Estadio Victoria in Aguascalientes, Mexico. The NFTs that will be produced are not only designed to deliver significant potential revenue but also to increase fan engagement and participation with the club.\n \n \n \n \n \n Streams Data, a wholly owned subsidiary of the Company, and Necaxa Football club have entered into a Licence Agreement whereby MOS has been granted a 5-year, global right to use the Necaxa commercial and intellectual property for the purpose of the production, promotion and commercialisation of agreed NFT products (the \"Agreement\").\n \n \n \n \n \n Under the terms of the Agreement, the parties have agreed a target revenue figure over the 5 years of the contract of which MOS's potential share is approximately USD 8.8 million. This net figure, which is a target agreed between MOS and Necaxa and not a forecast or guidance as to what will actually be achieved, being the estimated revenue MOS will receive after any revenue-share payments have been made. Revenue from the NFTs will come from both the sale price of the NFT itself and a royalty generated from them each time they are traded in perpetuity, these royalties are typically 5-10% of the sale price.\n \n \n \n \n \n This announcement further expands and solidifies the MOS \"HeroesNFTclub\" brand in the Mexican market. The Company is actively engaged in further NFT deals and announcements on these will be made when appropriate.\n \n \n \n \n \n Non-Fungible Tokens (\"NFTs\") are digital data stored in a blockchain, a form of distributed ledger. The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded. In effect the Company's p...