Israel’s first official esports club, Team Finest, is getting into the NFT market, embracing both NFTs and blockchain with the goal of creating a more interactive user experience for Team Finest’s fans. Team Finest has chosen to build on the Tezos blockchain, a layer 1 blockchain with on-chain governance, upgradability, smart contract verification, and a thriving NFT ecosystem. This choice was important, as investing in any new industry carries with it a certain amount of risk, especially because of how many scams can come in a field like NFTs.
“The market is ready and if we have our audience and partner with reputable blockchain companies and make utility out of these strategies, we’re going to be looking at a very receptive audience. The demographic is almost entirely the same,” said Mark Klein, Chairman at Team Finest. “We were presented with a number of blockchain investments and opportunities, 99% of which I turned down because even if it looks good and sounds good, a lot of things create risk and exposure for an investor like myself.”
But Tezos has a proven track record, too, and is also the company that Ubisoft partnered with. In October, Tezos partnered up with Team McLaren, the second-oldest active Formula 1 team, to create NFT replicas of race car parts and users can collect them to build their own race car. These sold out quickly and showed the opportunity for how NFTs can be used.
They aren’t willing to get specific right now and are still exploring what the future has in store, but their first goal is already set: education. “We plan to use Finest as a platform to educate what are NFTs and what is blockchain, and what can be done utilizing this technology,” said Klein. “We are taking it upon ourselves to educate our existing audience… There’s a huge amount of interest in NFTs in Israel, and we want to ride that.”
(All information was provided by The Jerusalem Post)
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