Should the club start making NFTs?

[horsechoker]

NFTs are all the rage and people are willing to pay a pretty penny for them.

So should United, the biggest football club in the world start selling them?

Yes.

Why? In order to generate more revenues which should be put back into the club (don't laugh)

One Cristiano Ronaldo NFT could enable us to buy Haaland

 

[Lentwood]

NFTs are all the rage and people are willing to pay a pretty penny for them.

So should United, the biggest football club in the world start selling them?

Yes.

Why? In order to generate more revenues which should be put back into the club (don't laugh)

One Cristiano Ronaldo NFT could enable us to buy Haaland

Yes they should, and if they were really smart, they should ensure these NFTs come with exclusive benefits.

For example you could mint ten "shiny" Ronaldo NFTs, and owning one means that you get some kind of meet and greet with him at Carrington/OT once a year.

There's tonnes of potential stuff like that you could do to drive up the price, even over and above just the collectable element

 

[golden_blunder]

Sorry what’s an NFT?

 

[horsechoker]

Sorry what’s an NFT?

It's like a jpeg you can sell for thousands of virtual dollars

 

[golden_blunder]

It's like a jpeg you can sell for thousands of virtual dollars

Huh? Why are they worth so much?

 

[Who's Kissing Cameras?]

Sorry what’s an NFT?

This is my question, too.

 

[Woodzy]

Huh? Why are they worth so much?

Because people are idiots

 

[golden_blunder]

This is my question, too.

I guess we are showing our age

 

[golden_blunder]

Because people are idiots

@horsechoker must have hundreds of them then

 

[horsechoker]

Also if anyone turns this thread into an NFT I want a 40% cut

 

[Lentwood]

Sorry what’s an NFT?

NFT stands for "Non-Fungible Token".

'Fungibility is a term used in Economics - fungible assets are those which can be replicated and hold a defined value. For example, one dollar is worth one dollar and can be exchanged for another dollar. All dollars are fundamentally the same.

Non-Fungible assets are those that are unique and/or can't be replicated and as a result, so too is their value.

A Non-Fungible Token is a digital asset deployed on the Blockchain in the form of a Smart Contract which proves authenticy and digital ownership.

Currently, the majority of the media coverage is focused on the Digital Art NFTs like Bored Apes and CryptoPunks that are selling for millions of pounds. The more prevalent use-case moving forwards will be to prove ownership of real world assets on the Blockchain i.e. your passport, your mortgage deed, your drivers license, your V12 car ownership form etc...will probably all exist as NFTs on a Blockchain.

Check out OpenSea to find where the art NFTs are traded and sold. Also check out Topps Trading Cards as an example of a mainstream collectable company moving into the NFT market

 

[golden_blunder]

NFT stands for "Non-Fungible Token".

'Fungibility is a term used in Economics - fungible assets are those which can be replicated and hold a defined value. For example, one dollar is worth one dollar and can be exchanged for another dollar. All dollars are fundamentally the same.

Non-Fungible assets are those that are unique and/or can't be copied and as a result, so too is their value.

A Non-Fungible Token is a digital asset deployed on the Blockchain in the form of a Smart Contract which proves authenticy and digital ownership.

Currently, the majority of the media coverage is focused on the Digital Art NFTs like Bored Apes and CryptoPunks that are selling for millions of pounds. The more prevalent use-case moving forwards will be to prove ownership of real world assets on the Blockchain i.e. your passport, your mortgage deed, your drivers license, your V12 car ownership form etc...will probably all exist as NFTs on a Blockchain.

Check out OpenSea to find where the art NFTs are traded and sold. Also check out Topps Trading Cards as an example of a mainstream collectable company moving into the NFT market

Thanks, but I only speak limited Dutch

 

[Wednesday at Stoke]

Yes! I'm not even an NFT enthusiast but can you imagine owning the NFT for Scholes' rocket against Barcelona in 2008?

 

[Oldyella]

Sorry what’s an NFT?

The perfect way to launder money.

 

[Lash]

Absolutely not as most of them are pump and dump type schemes and fans have the potential to lose thousands of pounds on these things.

No way should United be releasing stuff like this. If I ever saw Gary Vee promoting a Rooney overhead kick Vs city NFT, that would be it for me.

 

[horsechoker]

Absolutely not as most of them are pump and dump type schemes and fans have the potential to lose thousands of pounds on these things.

No way should United be releasing stuff like this. If I ever saw Gary Vee promoting a Rooney overhead kick Vs city NFT, that would be it for me.

Since when has that stopped business?

 

[Samid]

Absolutely not as most of them are pump and dump type schemes and fans have the potential to lose thousands of pounds on these things.

No way should United be releasing stuff like this. If I ever saw Gary Vee promoting a Rooney overhead kick Vs city NFT, that would be it for me.

How is that different to supporting United?

 

[M16Red]

Jay-Z NFT

If the club owns the right to a players image or percentage, then I don't see why not - there are some great pictures in our history that could be worth a lot of money.

 

[horsechoker]

Jay-Z NFT

If the club owns the right to a players image or percentage, then I don't see why not - there are some great pictures in our history that could be worth a lot of money.

Right-clicked and saved, thanks

 

[DOTA]

Currently, the majority of the media coverage is focused on the Digital Art NFTs like Bored Apes and CryptoPunks that are selling for millions of pounds. The more prevalent use-case moving forwards will be to prove ownership of real world assets on the Blockchain i.e. your passport, your mortgage deed, your drivers license, your V12 car ownership form etc...will probably all exist as NFTs on a Blockchain.

I feel like you're trying quite hard here to encourage us to think NFT's are more than just the stupid ones the media is currently paying attention to.

Yes they should, and if they were really smart, they should ensure these NFTs come with exclusive benefits.

For example you could mint ten "shiny" Ronaldo NFTs, and owning one means that you get some kind of meet and greet with him at Carrington/OT once a year.

There's tonnes of potential stuff like that you could do to drive up the price, even over and above just the collectable element

Which is odd when here you're advocating us selling those same really stupid ones.

 

[DavelinaJolie]

From a commercial point of view it makes perfect sense to do it.

From a fans point of view, feck off.

 

[Lash]

Since when has that stopped business?

Business isn't a homogeneous blob. You shouldn't just engage in something because everyone else is doing it and making money. I think as a brand United should be no where near associated with things that are quite clearly bubbles and will loose ordinary people a lot of money.

How is that different to supporting United?

I don't think it's quite the same!

Also why would any of you want us to do this, when most of the money would clearly go to the Glazers. Pretty much a less that 10% chance that money would go back into the footballing side of things.

 

[largelyworried]

Why not? We already sell all sorts of shite. Get Ronaldo to take a selfie, mint an NFT, ???, profit.

 

[Port Vale Devil]

Right-clicked and saved, thanks

Tweet

— Twitter API (@user) date

 

[Oldyella]

Jay-Z NFT

If the club owns the right to a players image or percentage, then I don't see why not - there are some great pictures in our history that could be worth a lot of money.

Saved. Am I a millionaire now?

 

[DWelbz19]

I’m not like the other guys babe I screenshot the NFT instead of right click saving

 

[Ekeke]

No

 

[Oranges038]

Yeah, fcuk it. If people are dumb enough to pay for stuff you can get for free.

For the most part it won't be football fans/Man Utd fans buying them, so no harm in going and finding some other idiots to gouge.

 

[Chesterlestreet]

Thanks, but I only speak limited Dutch

It's basically a digital...something (an image, a video clip, etc.) that is registered and certified as being unique.

I take a picture of my cat doing an impersonation of Elvis (not that Elvis) - and then go to through the proper procedure for uploading and registering it (thus making it unique and so forth).

I then become insanely famous (by posting random crap on YouTube) - and people will now be willing to buy the picture (meaning - buying the "certificate" which proves they own the "original" and not a copy) for loads and loads of money.

 

[Rex Banner]

Just what the club needs, another way for the Glazers to siphon money from the club into their own pockets.

 

[Lentwood]

I feel like you're trying quite hard here to encourage us to think NFT's are more than just the stupid ones the media is currently paying attention to.
Which is odd when here you're advocating us selling those same really stupid ones.

I didn't say they were stupid, I said that's where the media coverage is focused.

The boring, practical use-case for NFTs, as I said, is proving ownership of an asset. However, the media are hardly likely to get excited and write front page stories about international trade documents being uploaded to the Blockchain in the form of NFTs are they? Even though it's happening as we speak.

The bigger story is 'look at this person who paid £500K for a picture of a monkey', for obvious reasons. However, this doesn't mean it's stupid. We can get into a whole debate about what gives something value. Why is the Mona Lisa worth millions of pounds when I can take a photograph or buy a replica in the gift shop for a fraction of the price of the original? Why would someone pay hundreds of thousands for a first-edition book, when you can buy the same book for a few pounds? Why would someone pay thousands for an unboxed Star Wars figure to sit on their shelf?

I would say just be careful about what you label 'stupid'...that's your opinion

 

[Ixion]

I think some people in here have fallen into a pyramid scheme

 

[rumac]

I've always said that humans have have been using tokens for thousands of years and the problem has always been that they are too fungible. I'm glad NFTs have arrived to fix that problem.

 

[Carlsen19]

I would rather we start making more goal scoring opportunities.

 

[Lentwood]

I think some people in here have fallen into a pyramid scheme

I think some people in here are dismissing something because they don't understand it

 

[GazTheLegend]

Huh? Why are they worth so much?

Money laundering by the rich basically

 

[golden_blunder]

Jay-Z NFT

If the club owns the right to a players image or percentage, then I don't see why not - there are some great pictures in our history that could be worth a lot of money.

I know I do t really get it but a crappy image done in 16bit colour on MS Paint sells for thousands? I’m getting too old for this shit. The worlds gone mad

 

[1950]

I think some people in here are dismissing something because they don't understand it

I think dismissing ape jpegs going for millions as a pyramid scheme or money laundering is totally valid, regardlesss of the technology behind it being sound or not.

 

[Lentwood]

I think dismissing ape jpegs going for millions as a pyramid scheme or money laundering is totally valid, regardlesss of the technology behind it being sound or not.

The extent to which cryptocurrencies are used for illicit activity is exaggerated - according to Forbes, "in 2019, criminal activity represented 2.1% of all cryptocurrency transaction volume (roughly $21.4 billion worth of transfers). In 2020, the criminal share of all cryptocurrency activity fell to just 0.34% ($10.0 billion in transaction volume)."

As I have explained elsewhere, cryptocurrency isn't actually a great means to commit criminal activities, because every single transaction ever made is recorded on the respective Blockchains, with the unique public key of the sender and recipient published each time. I am not saying it doesn't still happen, but it's become much, much harder, especially because most legitimate exchanges demand ID before allowing a user to open a wallet.

Also, I don't really see how buying NFTs can be called a 'pyramid scheme'. A pyramid scheme is defined as "a fraudulent system of making money based on recruiting an ever-increasing number of "investors."

Clearly, that's not what is happening here. A user creates an NFT once, and sells it, once. Regardless of whether you think the NFTs are worth what people are paying for them, it doesn't fit the description of a pyramid scheme. 'Bubble', maybe, and I am sure in the future, some of these NFTs that have sold for millions will be worthless...but that's not because of some kind of illicit or misleading activity

 

[DOTA]

I didn't say they were stupid, I said that's where the media coverage is focused.

The boring, practical use-case for NFTs, as I said, is proving ownership of an asset. However, the media are hardly likely to get excited and write front page stories about international trade documents being uploaded to the Blockchain in the form of NFTs are they? Even though it's happening as we speak.

The bigger story is 'look at this person who paid £500K for a picture of a monkey', for obvious reasons. However, this doesn't mean it's stupid. We can get into a whole debate about what gives something value. Why is the Mona Lisa worth millions of pounds when I can take a photograph or buy a replica in the gift shop for a fraction of the price of the original? Why would someone pay hundreds of thousands for a first-edition book, when you can buy the same book for a few pounds? Why would someone pay thousands for an unboxed Star Wars figure to sit on their shelf?

I would say just be careful about what you label 'stupid'...that's your opinion

I'm quite comfortable with my label