Blockchain-powered sports and entertainment NFT solution Jetcoin sponsored the Huddersfield Town A.F.C. soccer team prior to a spectacular third round FA Cup win against Burnley. Town, the underdogs of the match, play in the EFL Championship League, a tier below the English Premier League (EPL), the top division in which Burnley competes.
Sporting the Jetcoin logo on their sleeves as they trounced Burnley 1:2 on January 8th, this David vs Goliath win is reminiscent of the 2018 FA Cup game in which Jetcoin sleeve-sponsored Wigan Athletic F.C., who scored a historic victory against Manchester City. Competing two divisions down from EPL Manchester City, League One Wigan knocked the Premier League leader out of the 2018 FA Cup tournament, a major upset which sent Wigan instead to the FA Cup quarter-finals.
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While Jetcoin sleeve-sponsored both matches (are they an FA Cup rabbit’s foot, perhaps?), this time is unique in that it follows the launch of Jetcoin’s premium line of NFT sports trading cards. The cards are supercharged with a unique NFT viewer that allows fans to view interactive multimedia properties embedded in each card, including additional imagery, video clips, text such as player performance stats and specifications about the NFT, and even access to additional rewards, beginning with the three match jerseys worn during the Huddersfield vs. Burnley game.
We sat down with Jetcoin CEO Eric Alexandre to learn more about the blockchain sport solution.
Q. Please introduce yourself and what you do at Jetcoin.
A: I’m an experienced creative director with a background in advertising and filmmaking. Since 2014, I became involved in blockchain and cryptocurrency. Before then, I had worked with many international brands in the past and had shifted my creative consultancy (Ikon Media) toward helping projects in the blockchain space. I created Jetcoin with a focus on supporting emerging talents. I am now the Founder and CEO of Jetcoin.
Q. Tell me about Jetcoin’s journey. How did you pivot to become an NFT platform?
A: My journey through the blockchain industry helped me learn a lot about the various emerging technologies available in the blockchain space. I decided at an early stage to focus on the branding of Jetcoin and for a while outsourced the work for building the Jetcoin solution to different IT and Tech companies. After developing several versions of an MVP with both a marketplace and wallet app, I realized that too many resources were allocated to updating, maintenance, security and customer service.
Then in 2019, I met with Zach Burks, founder of Mintable and shared my vision with him. He gave me great insights on what the possibilities with NFT tech were and how it could be leveraged. I realized that was the perfect solution to implement my business model, and I no longer had to create a new wallet or marketplace but instead could leverage the Metamask wallet and Mintable store. I would instead focus on the creation and distribution of NFTs to support emerging talent.
Q. What is the difference between Jetcoin and other sports NFT platforms?
A: Jetcoin is a solution to financing emerging talents through crowdfunding, so these talents can pursue their dreams. For each talent, we create a limited series of NFTs and sell them on the market. The funds raised are then used to support a talent’s financial needs. JET NFT holders will benefit first from the collectible value of the NFT, then the unique rewards it offers (such as dedicated merch), meet-and-greets, tickets for events, etc. So far, many major football clubs such as Barcelona, Juventus etc have made several failed attempts at entering the NFT market. I think a big reason for this is the lack of knowledge on both sides on how to position their NFT collections to resonate with both the fans and the current NFT community. In our case we have experience with all sides — the clubs, the NFT communities and how to create an NFT collection for a successful launch.
Q. Can you explain how JETNFTs increase in value as a player’s career progresses?
A: As the talent matures and he/she starts getting brand endorsements, a percentage of these revenues are converted into JETs bought from exchanges and airdropped to JET NFT holders. On top of the value of the collectibles, the JET NFTs representing successful talents will gain in resale value as all the benefits of the NFT will be transferred to the new holder/owner.
Q. Why did you decide to focus on sports for Jetcoin? Are you looking at supporting other industries than sports?
A: Jetcoin began its journey by collaborating with Italian and UK football clubs and that set a precedent for our business model. One part of the partnership is for the clubs to do a player evaluation and give a report. If the report card is promising, then we create an exclusive series of NFTs that are sold on the JET Store. Funds raised are then allocated for different player needs such as lodging, equipment, personal trainers and much more. So we are still in the adoption phase and once we have a successful partnership that engages fans by connecting them with new players, we will be able to collaborate with other industries and sports. That being said, we are now in collaboration with a radio DJ from Ibiza to produce a sound track.
Q. How do you choose a team to sponsor? Why did you choose Huddersfield Town?
A: Since we started our journey in the sport industry we have been meeting with several clubs from different leagues. We shortlisted selected clubs that were open to a mutual and beneficial partnership. Huddersfield expressed interest in exploring how to implement NFTs in their revenue model, so this was an important factor for us when we selected them. We look for collaborative partnerships where not only both sides (the club and Jetcoin) will benefit, but the player and the fans as well.
Q. Anything else you’d like our audience to know about Jetcoin?
A: As of today, we have built up our solutions: the JET engine and its own NFT viewer. Our store is live on Mintable and we have issued a great deal of limited edition NFTs from our previous club partnerships. We also created a test environment (Sandbox) where we create Jet NFTs on the ETH testnet (Rinkeby) to allow our partners to view the NFTs and make adjustments before going live on the mainnet. Right now our focus is on signing new partnerships with both clubs and talents.
Blockchain-powered Jetcoin ($JET) is digital fuel that gives fans and supporters in the world of sports and entertainment a unique opportunity to benefit directly from the success of their favorite athletes and stars. Through the JET NFTs, individuals participate in their talents’ success stories when they choose to purchase unique NFT series of artwork and collectibles from emerging talents in sports and entertainment. When the talents mature in their careers, the value of their image rights increase, translating into rewards for the fans holding the NFTs.
To date, Jetcoin has sponsored English Football League Derby County FC, Wigan Athletic F.C., English Premier League perimeter banner advertising, two Serie A football teams (A.C. Chievo Verona and Hellas Verona); three luxury yacht shows (Singapore, Phuket and Penang Rendezvous); and three Formula One Official After-Parties in Singapore.
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