Mobile Streams signs ‘major’ NFT contract with Mexican football club
AIM-listed Mobile Streams said on Monday that it has signed a "major" five-year contract to be the exclusive global producer and provider of non-fungible tokens for Pumas football club, one of the ‘big 4’ football clubs in Mexico.
Wholly-owned subsidiary Streams Data and Club Universidad Nacional - the Pumas - have entered into a Licence Agreement whereby Mobile Streams (MOS) has been granted the global exclusive right to use the Pumas' commercial and IP property for the sole purpose of the production, promotion and commercialisation of NFTs and blockchain products globally.
The parties have agreed a target revenue figure over the term of the contract of which Mobile Streams’ share is around $14.5m. This net figure, which is a target agreed between MOS and Pumas and not a forecast or guidance as to what will actually be achieved, is the estimated revenue MOS will receive after any revenue-share payments have been made.
Mobile Streams chief executive Mark Epstein said: “We are extremely proud to have signed this contract with Pumas. This contract win with a major sports brand demonstrates the progress made by the business. We are now very well positioned within this space and look forward to growing our presence in the Web 3.0 content, digital merchandise and NFT space."
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.