Finance guru: Liverpool have dodged 'disaster' as 'unique' operation bags seven-figure windfall
Liverpool have recorded “underwhelming” sales from their first NFT auction – but the figures are far from a “disaster” for a first effort.
So says finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the Merseysiders’ maiden voyage into the world of NFTs.
Liverpool announced on 24 March that they had commissioned a set of digital collectable artworks that were set to be auctioned by Sotheby’s.
The NFT range had the potential to rake in £8.5million in revenue for the club.
But the Reds have now confirmed that they generated just £1.125m from the sale, as relayed by the Liverpool Echo last Tuesday (5 April).
Plumley, however, claims that the Anfield money men will not be overly concerned by the missed opportunity for extra profits.
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“I think ‘underwhelming’ is the word, but they did still make over £1m,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“They weren’t in desperate need of, say, £10m, so they will reflect on this not as a disaster.
“They have canvassed fans’ opinions and gone for something slightly different and unique rather than the fan token or crypto schemes.
“They will probably realise they made too many NFTs and there were too many to shift in a short amount of time.
“Nobody really knows what the demand for these things was going to be like. So, as a test-the-water exercise, they’ll have learnt a lot.
“It will be interesting to see what comes next with these kinds of endeavours in the future.”
The Premier League are also reportedly set to embark on two NFT league-wide NFT deals.
Liverpool received negative feedback when they canvased supporters on their opinions towards cryptocurrency earlier this year.