This summer’s international soccer Championship of Europe will be hosting a special trophy that will be based on NFT and will be handed over to the best goal scorer of the tournament. The NFT trophy will be co-sponsored by UEFA along with its Russian partner, Gazprom. The recent crypto crash apparently had no impacts upon the NFT industry surprisingly.
UEFA, which is the soccer governing body of Europe, had entered into an agreement with a Russian company, Gazprom. Under the agreement, the Russian company acquired the sponsorship right of the UEFA’s tournaments. However, the agreement had ended recently but, with the mutual consent of both the parties, the agreement has been extended for a further three years period.
Gazprom will be sponsoring the upcoming UEFA’s Champions League along with two finals to be played by national soccer teams of Europe. Champions League tournament is one of the top tournaments played under UEFA, which has a global audience.
What is more interesting under the agreement this time is that there is a special trophy co-hosted by both the partners. It was informed that a special award has been compiled in the form of Non-Fungible Tokens (NFTs). This award/trophy will be presented to a player who will be able to score the best goal during this summer season. The NFT will comprise an artwork that will be duly composed at Saint Petersburg by a famous artist from Russia.
It was further informed that seven matches under the UEFA are scheduled to be held in the Russian city of Saint Petersburg. While at least 44 matches under the UEFA will be played in multiple cities within Russia. The tournament was original to be held in 2020; however, it was delayed because of the Covid-19 pandemic. This is why the upcoming tournament will retain its original year i.e. 2020 instead of 2021.
As regards the NFTs, it was informed further that only a fragment of the artwork would be compiled in an NFT. However, the rest of the artwork will be destroyed, told the sponsors. Gazprom suggested that the NFT would comprise a video that will be scanned in 3D format. The NFT would also contain the names of the player and the tournament, which will be kept in codified form.
While the crypto global economy is undergoing a difficult phase nowadays because the crypto market was crashed lately. However, it is recovering on daily basis and similarly, Bitcoin is trying to earn once again its lost market cap. The crash particularly shook Bitcoin and brought down its market capital from above Trillion dollar to under Trillion.
Meanwhile, NFT too is a byproduct of the crypto industry but the crash did not really affect it at all. It is today as popular and used increasingly as it was a week ago.