Get 14 Days Free
(Alliance News) – Mobile Streams PLC on Wednesday said it has signed a five year contract to be the exclusive provider of non-fungible tokens for La Liga football club Cadiz Club de Futbol.
Mobile Streams is a London-based mobile content provider. Cadiz Club de Futbol is a Spanish professionAL football club based in Cadiz, Andalusia. It competes in Spain’s top-flight football league La Liga, “one of the world’s top sporting leagues.”
Under the contract, Mobile Streams will be the exclusive provider of NFT products for Cadiz CF.
“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 products are digital merchandise,” Mobile Streams explained.
The NFTs will be sold via a primary marketplace that the company is creating for the club, as well as via Mobile Streams’ telco contracts globally, its LiveScores sites and apps, and the MOSMetaverse website.
Mobile Streams added that it has agreed with Cadiz a target revenue figure over the five-year contract, of which the company’s share is around EUR3.7 million.
Mobile Streams explained that revenue from the NFTs will come from both the sale price of the NFT and a royalty generated from them each time they are traded in perpetuity. These royalties are typically between 5% and 10% of the sale price, it added.
Looking ahead, Mobile Streams said it is actively engaged in progressing further NFT deals globally and announcements on these will be made when appropriate.
The company also said that the NFT market is expected to be worth USD122 billion by 2028, with more than USD35 billion expected to be generated in this year alone.
Chief Executive Mark Epstein said: “We are delighted to have signed this contract with Cadiz. They are a hugely popular team with a great fan base. It’s a privilege to be working with such a great club as our first in La Liga”
Shares in Mobile Streams were up 1.0% at 0.13 pence each in London on Wednesday afternoon.
By Sophie Rose, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
(Alliance News) – International Distributions Services PLC’s Royal Mail is experiencing “severe…
(Alliance News) – International Distributions Services PLC’s Royal Mail has rejected claims it …
JD Sports Fashion PLC – Lancashire-based sportswear retailer – Non-Executive Chair Andrew …
Nordex SE – Hamburg, Germany-based wind turbine manufacturer – Receives order from SSE Renewabl…
Thursday 12 January Ashtead Group PLCex-dividend payment dateBlackRock Latin American …
Mining companies are operating in a challenging environment but could now be the time to top up o…
THE WEEK: Morningstar columnist Rodney Hobson provides two pieces of advice to George Osborne, an…
Businesses that have competitive advantages within their industry are good candidates for dividen…
Morningstar reveals the top 10 best performers over the last five years
Morningstar OBSR reveals the top funds for investors seeking exposure to European equities
Our ego is part of who we are, though too much of it can hurt decision-making and destroy wealth….
Investors in their 30s have competing financial priorities
Customers appreciated the reliability of the Argos brand during a period of disruption, chief exe…
In this series, we ask leading fund managers about everything from their investment strategy, to …
Terry Smith’s latest annual letter to investors in his equity fund once more pulls no punches, co…
Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.
About Us
Connect With Us
Get Help
Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings
The Morningstar Star Rating for Stocks is assigned based on an analyst’s estimate of a stocks fair value. It is projection/opinion and not a statement of fact. Morningstar assigns star ratings based on an analyst’s estimate of a stock’s fair value. Four components drive the Star Rating: (1) our assessment of the firm’s economic moat, (2) our estimate of the stock’s fair value, (3) our uncertainty around that fair value estimate and (4) the current market price. This process culminates in a single-point star rating that is updated daily. A 5-star represents a belief that the stock is a good value at its current price; a 1-star stock isn’t. If our base-case assumptions are true the market price will converge on our fair value estimate over time, generally within three years. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Morningstar Star Rating for Stocks, please visit here
Quantitative Fair Value Estimate represents Morningstar’s estimate of the per share dollar amount that a company’s equity is worth today. The Quantitative Fair Value Estimate is based on a statistical model derived from the Fair Value Estimate Morningstar’s equity analysts assign to companies which includes a financial forecast of the company. The Quantitative Fair Value Estimate is calculated daily. It is a projection/opinion and not a statement of fact. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Quantiative Fair Value Estimate, please visit here

source

Write A Comment