EPL Team Manchester United Nears 1 Million NFTs Minted on Tezos

English team Manchester United has minted close to one million non-fungible tokens (NFTs) on the Tezos blockchain. The numbers available on Tezos NFT platform Objkt underline the value of NFTs for connecting with sports audiences.

Tezos is a smart contract protocol for issuing new digital assets and creating decentralized applications (dApps). The blockchain came into the limelight for being the first to use Proof of Stake (PoS) consensus over the famous Proof of Work (PoW) used by Bitcoin. 

Man United Partners Tezos

The blockchain project signed a deal with Manchester United as the club’s official blockchain partner on November 14, 2022. The collaboration involves Tezos minting NFT collectibles and giving them out to fans for free. Fans had till December 21 to claim free collectibles and after the claim date passes, subsequently minted collectibles will sell at £30, with 20% of the proceeds going to Manchester United Foundation.  

The NFT collectibles are classified into three types-  the Classic key, the Rare key, and the Ultra Rare key. The Classic key gives fans access to giveaways, drops, and secret channels on the Manchester United fan discord.

The rare key provides better benefits, including discounts and one-on-one talk time with the club’s celebrity players. The ultra-rare key provides access to classic and rare key benefits and an invitation to Old Trafford to enjoy the virtual experience.

Tezos Sees High Blockchain Activity

Following the announcement of the Tezos deal with Manchester United, the network has seen increased network activity. Over 364,000 transactions were completed on the blockchain less than 24 hours after the partnership announcement, the highest Tezos has experienced in recent times. Transaction activity peaked at 630,000 in December 2022, a new three-month high. 

The on-chain transaction volume also spiked to 155M Tez ($122M) on 18th November, another three-month high in the blockchain. The number of active users on the blockchain has also increased, signaling more users came for the free token. 

Tezos has also seen an increased number of tokens created and transferred. Over 1 million tokens were created this quarter, a 569% increase from the previous quarter. The amount of tokens transferred from the blockchain has also reached 1.8M, a 98% increment from the third quarter figures. 

However, Tezos native coin XTZ has not been affected by the recent activities in the blockchain. It has continued its price decline and is currently trading at $0.78 at press time, having a decline of 1.5% from the daily opening.