Michael Owen has become the latest football figure to offer a custom NFT collection. But is it time to keep NFTs out of Britain’s most-loved game?
A quick look at Google Trends would reveal that worldwide searches for ‘What is an NFT’ have risen sharply over the last twelve months, and the latest man to cash in on the uncertainty of this lucrative trend is former Liverpool and Real Madrid striker Michael Owen.
What is an NFT?
An NFT or non-fungible token is a non-interchangeable unit of data stored on a blockchain, or a form of digital ledger, that can be sold and traded. It has similarities to cryptocurrency, like Bitcoin, as it’s generally built using the same kind of programming. However, physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another – an NFT cannot.
An NFT can represent both a digital asset such as an image, but it can also track real-world assets, such as a house or car, or a song, for example.
Unique Owen NFTs
In partnership with Oceidon, Owen has announced he will be releasing a total of 1233 unique Michael Owen NFTs.
In a press release, Oceidon claimed the collection will ‘tell an inspiring tale of Michael’s meteoric rise in football’, but what sets Owen’s latest NFT collection apart from the rest though, is a special no-loss guarantee made by the man himself.
Owen took to Twitter on Monday to reassure his 3.7M followers about any potential risks associated with his collection.
Owen claimed that ‘despite the critics’, his NFTs ‘will be the first ever that can’t lose their initial value’. A genuinely staggering claim for a man who’s not typically known for his enthralling personality.
Can it be true?
So could it be true? Has Michael Owen somehow created the first NFT that can’t lose its initial monetary value? Well, according to his business partner, no.
Just hours after Owen’s bold claim, Andy Green, the co-founder of Oceidon, inadvertently corrected the Ballon D’or winner after also taking to Twitter to explain the claim.
Now, it would be unfair to claim that Owen’s tweet was deliberately misleading as NFTs are a notoriously complicated concept.
Footballers Take On NFTs
However, he isn’t the first football figure to take up NFT shilling. In recent months, United’s Luke Shaw and Liverpool’s Andy ‘Robbo’ Robertson, as well as Hibs and Rangers Football clubs have all released and promoted their own NFT collections.
Although all four of these collections have something in common: they no longer exist.
Both Shaw and Robbo, as well as the two Scottish clubs’ collections, were made by sporting NFT company ‘Sportmeon Go’.
Aside from having a ridiculous name, as of last week, Sportemon Go no longer exists – deeming the expensive e-tokens effectively worthless.