By Joe Hoppe
Mobile Streams PLC shares rose Monday after it said it has signed a major contract to exclusively produce and provide collectible trading card non-fungible tokens, or NFTs, for the Mexican national football team.
Shares at 1218 GMT were up 0.02 pence, or 8% at 0.27 pence.
The AIM-quoted mobile content and data intelligence company said that with Mexico’s large football support base, and the FIFA World Cup starting in November, the contract provides an opportunity to drive significant revenue from NFT sales and increase its brand awareness.
The company and the Federacion Mexicana de Futbol have entered a three-year, global exclusive right from Sept. 1 to use the team’s commercial and intellectual property to produce NFTs.
Mobile Streams will make a small upfront payment and earn revenue from a revenue split on the initial sale and further NFT trades in perpetuity. Royalties are typically 5% -10% of the sale price.
“This deal, coming shortly after our recent PUMAS announcement, is further evidence of our ability to compete at the highest level and to deliver on our strategy. The FIFA World Cup represents an enormous commercial opportunity for all involved,” Chief Executive Mark Epstein said .
Write to Joe Hoppe at [email protected]