Sources: Liverpool allies to make surprise move as £300m deal all but done
Liverpool partners Sorare plan to advocate for greater regulation in the NFT industry in order to make their imminent Premier League-wide deal more palatable to consumers, sources have told Football Insider.
This site first broke news last Wednesday (4 January) that the Premier League plans to announce the £30million-a-year deal in the first quarter of 2023.
A source has since told Football Insider that Sorare have been courting various analysts and commentators as part of a coordinated PR campaign ahead of the launch.
It can now be revealed that the company has, in a surprise move, privately claimed that it will actively lobby for improved and more nuanced legislation in the NFT sector.
Football Insider can also confirm that the licensing partnership will indeed last 10 years, as has long been rumoured.
The agreement will go ahead despite criticism from the political sphere, with the promotion of cryptoassets in sports having been scrutinised in the House of Commons as recently as November.
Detractors believe the lack of regulation within the industry leaves consumers who trade in NFTs financially vulnerable.
Those who champion the NFT industry, however, claim that commercial partnerships with blockchain specialists have helped Premier League clubs not only survive the pandemic but emerge from it in an arguably stronger position.
Liverpool are one of a handful of top-flight sides whose players are officially licensed and whose trading card-style representations are already available to buy in Sorare.
The Merseysiders have also auctioned off their own club-branded NFTs as part of their Heroes Club programme.
Liverpool supporter trust Spirit of Shankly have previously stated that they have concerns over the “financial and environmental sustainability” of NFTs.
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