The Premier League’s plans to launch non-fungible tokens (NFTs) have reportedly been derailed by the cryptocurrency crash, threatening a potential new revenue stream worth over US$427 million.
Earlier this year, it was reported that Candy Digital, ConsenSys, Dapper Labs, and Sorare were in the running for the initial partnerships.
In March, it was said that clubs had authorized a planned agreement with ConsenSys that would have allowed the company to print digital trading cards based on still photos, opening up a new market. In the summer, confirmation was anticipated but never materialized.
It's unclear how possible alliances for other NFT categories, like video and fantasy sports, are doing.