REVEALED: Liverpool’s NFT range flops with just 10,000 sold out of 171,000 available in the first six days of the club’s much-maligned foray into the cryptocurrency market
- Liverpool’s venture into cryptocurrencies has so far proven unsuccessful
- The Reds have sold 10,000 of the 171,000 NFTs they put up for sale last week
- Fans were not happy with the move, accusing the club of trying to exploit them
- And six days after the launch Liverpool are only set to make around £450,000
- They were initially projected to bring in around £8.5m from the digital assets
Liverpool’s controversial foray into the world of cryptocurrency has so far proven unsuccessful, with the club selling less than 10,000 of the 171,000 non-fungible tokens they put on the market six days ago.
The Reds sparked a furious reaction from supporters after announcing their plans to launch a collection of NFTs at the end of last month, which was seen by many as an attempt to exploit fans and generate more revenue in the process.
Sales of the digital assets began last week, with 171,072 randomly-generated ‘Hero’ tokens, based on Klopp and 23 first-team players, put up for sale through auctioneer Sotheby’s, along with 24 unique ‘Legendary’ tokens.
Liverpool’s controversial foray into the world of cryptocurrency has so far proven unsuccessful
However, at the time of writing Liverpool have only managed to offload 9,701 of the Hero NFTs they launched six days ago, Sotheby’s listings show.
That works out as almost six per cent of the 171,072 they placed on the market last week, meaning their venture into the cryptocurrency world has not gone to plan.
Hero tokens are priced at $75 (£57.20), giving the Merseyside club a return of just $643,050 (£490,277) so far.
They will also be paying $64,305 (£49,028) to the LFC Foundation after pledging to donate 10 per cent of the money generated to the charity.
The Reds launched around 171,000 NFTs based on Jurgen Klopp and his players last week
But they have only sold 9,701 of the digital assets six days after putting them on the market
Ahead of the auction’s close on Monday afternoon, Liverpool had also only produced $125,800 (£95,912) through the sales of Legendary tokens, 50 per cent of which they are also donating to the LFC Foundation.
After paying out those donations, the club are set to bring in around £450,000 through their NFT launch, despite being projected to raise over £8.5million in sales.
That figure also doesn’t bear in mind the cost of producing NFTs, the commission owed to Sotheby’s and advertising fees.
Nike had also partnered with Liverpool in the venture, nevertheless, meaning they are likely to bring in a fee from the kit manufacturers after including their branding on several NFTs.
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