Mobile Streams (MOS ), a mobile content and data intelligence company, announced a new 5-year contract to be the exclusive provider of NFT trading cards and other NFT products for Mexico's Necaxa Football club.
Streams Data, a wholly-owned subsidiary of Mobile Streams, and Necaxa Football club have entered into a license agreement whereby MOS has been granted a 5-year global right to use Necaxa's commercial and intellectual property for the purpose of production, promotion, and commercialisation of NFT products.
Under the terms of the contract, the two parties have agreed a target revenue over the 5 years of which MOS's potential share is approximately US$8.8m. MOS notes this is a target and not a forecast figure. Revenues from the NFTs will come from the sale price as well as royalties generated each time the NFT products are traded. The royalties are typically 5-10% of the sale price.
MOS will produce a range of trading cards, collectables, and other NFTs for Necaxa. NFTs will be sold via a primary marketplace that MOS is creating for the team, to be be accessed via Necaxa's website, social media accounts, and other digital outlets. Additionally, the NFTs will be sold via MOS's telco contracts globally, its LiveScores sites and apps, and the MOSMetaverse website.
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This is another milestone contract win for MOS, building on last month's US$3.7m contract with Mexico's Atlante FC, as well as the Pumas and Mexican National Team deals. MOS also announced in July two major NFT license deals with PAS Kisisel Asistanlik Hizmetleri and Andrea Olmedo Lopez. The company said in August it was in discussions for 30 additional NFT deals.
Founded in 1923, Necaxa are one of Mexico's most popular teams, playing in the top division Liga MX. MOS says its NFTs for the team will be designed to increase fan engagement and participation with the club, potentially unlocking further value.
MOS also recently launched its HeroesNFTclub NFT marketplace. The platform can place NFTs onto global marketplaces such as OpenSea. This effectively means that MOS is now both an NFT producer and marketplace provider, opening additional revenue opportunities.
In its FY22 update MOS reported revenue of £1.1m, an increase of 180% from £395K in FY21, with a strongly weighted 2H22 delivering revenue of £810K, a 270% increase YoY from £219K in 2H21. June 2022 alone returned revenue of £181K, representing a sequential monthly increase of 62% since MOS' last performance update on 1 March 2022. The strong trend of revenue growth is expected to continue into 2023.
The global NFT market is expected to reach US$122bn by 2028, with more than US$17bn in sales in 2021 and US$35bn expected to be generated this year. The fastest growing sector within this space is the sports NFT market. In the past year, MOS has successfully targeted this market and emerged as a major provider of licensed NFTs, with its NFT division expected to exceed all other revenue streams by end of FY23.
The company remains well-funded to take up additional deals as the lucrative FIFA World Cup tournament approaches.
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