Liverpool Football Club CEO Billy Hogan has admitted the door is still open to potential NFT partnerships, despite a lacklustre launch earlier this year.
Back in March the Premier League sider launched its own NFTs alongside London auction house Sotheby’s but the partnership was criticised by many of the dedicated fan base.
Fears over the market’s volatility meant only 11,000 NFTs from the LFC Heroes Club Collection sold – despite more than 170,000 offerings being made available.
As of June more than 90% of the collection was still unsold but Hogan did sees some positives from the campaign which delivers £1.1m in revenues for the Reds.
Hogan said: “There was some criticism, but there was also a lot of support for it. I think it probably split opinion, to be fair. I think from our perspective, it was an important opportunity to try something that was new and different.
“One of the really positive aspects of the project was that it raised almost £300,000 for our Foundation, so I don’t think that it’s something that we will shy away from. I think that there’s opportunities for us to continue to explore.
“But I think we would look at how we engage and how we involve ourselves within that category industry and ensure that we’re doing it in the right way, in the most authentic way as it relates to the values of the club.”
As one of the biggest football clubs in world football, Liverpool is one of many under pressure to unearth new revenue streams and further boost its engagement with its global fanbase.
However, this recent stuttering start is a reminder of how strong fan power is and Liverpool as a club know that any potential commercial partnership deals need to reach certain values.
Liverpool commercial director Ben Latty said: “As a leadership team led by Billy [Hogan] we’ve got responsibility to operate and make decisions in the best interests of the club.
“That’s the best interests of everyone connected to the football club as well, whether it’s our ownership, our fans or other partners.
“The way we operate now, and let’s make this really clear, every decision we make, whether it’s positive or negative, is done with the club’s best interests at heart.”
Back yourself as a sports bettor? We recommend Sportsbet.io, Cloudbet or 1xBit.