Liverpool FC fans who purchased ‘LFC Heroes Club’ NFTs in March and April were told they would receive benefits such as unique experiences, competitions and community access. So far, fans claim they’ve received no contact from the club.
The NFT sale initially started on March 30th through Sotheby’s. The NFTs were animated, cartoon-style tokens that included 24 rare ‘Legendary’ and 171,072 ‘Hero’ tokens.
The campaign was expected to help the club make more than £8.5m, however, projections failed and it only brought in a percentage of the expected amount. The club only earned £567,000 through the Legendary tokens and the sale of Hero NFTs wasn’t very impressive either.
The first 9,721 ‘Hero’ tokens were sold at £57 each, failing to attract the desired numbers.
The official description read:
“LFC Heroes Club is your opportunity to take part in the world’s most innovative football fan community. You’ll get a unique digital collectible, engage with football’s greatest family, and access exciting benefits, all in one NFT community.”
NFTs Marketed to Fans as a Chance to be a Part of the Club
Liverpool did not promote these as investment tokens. Instead, the marketing was designed to attract fans and offer them a chance to be a part of the prestigious club.
“Each digital collectible is a unique piece of art. Nobody else will hold the same NFT as you.“
“On top of that, you’ll join a passionate LFC community, with access to an LFC community forum, unique experiences, virtual hang-outs, competitions, guest appearances, updates from the LFC Foundation and LFC retail discounts.”
Despite this, the tokens were seen as an investment tool due to their nature and the rise of NFTs.
Some NFTs are Down over 80%
Experts believe that the sudden fall of cryptocurrency is the cause. Some of the tokens are currently selling at around £8.96 – a loss of about £48 each.
“There was a big spike in early June but many LFC Heroes NFTs are trading for far less than they were ‘minted’ for,” says The Athletic‘s Joey D’Urso “and far less than they were a couple of months ago.”
Fans Upset there has been No Contact from the Club
Liverpool isn’t the only club facing this situation, as other Premier League clubs or supporters are in a similar situation. However, Liverpool investors or token holders believe that a lack of support from Liverpool is unfair, as there has been no contact from the club and fans are waiting to hear back from the club.
Fans seem upset as the club originally promised an ‘opportunity for interaction’ to token holders, which proved to be one of the major driving forces for the sale. However, so far, there has “been no access to an LFC community forum, unique experiences, virtual hang-outs, competitions, guest appearances, updates from the LFC Foundation, and LFC retail discounts,” says an expert.
The situation may improve once the crypto market begins to rise. For the time being, the club doesn’t appear to be interested in the campaign and is in the news for negotiating with a number of cryptocurrency companies for a potential sponsorship deal once the current deal with Standard Chartered expires in 2023.
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