Mumbai Indians become first IPL team to use NFT – Cryptonium News

Mumbai Indians become first IPL team to use NFT

The Mumbai Indians franchise cricket team is all set to release one IPL team NFT. The team’s parent company, India Win Sports Private Limited (ISPL), has submitted a request for services (RFP) to develop its own IP as NFT. Reliance Industries Limited (“RIL”), an oil and telecommunications conglomerate. Let’s take a look at the latest announcement from the Mumbai Reds.

Mumbai Indians using NFT: What do we know now?

According to a statement from Mumbai Indians, anyone can use the RFP by paying a non-refundable fee of 1 million rupees (about $1,207). Interested parties may purchase the RFP until January 17. Eligibility questions, service submissions, qualifications, and support terms and conditions for almost everything are integrated into the RFP.

“ISPL is open to proposals from grassroots and Indian organizations to create and launch NFTs based on their own existing IP and leverage the value of the Mumbai Indians Mass brand,” the statement said.
Anyone can obtain the RFP, but only those who meet the eligibility criteria may bid; after purchasing the RFP, customers must send a message to Mumbai Indians to prove payment details.
Important Reasons.

Mumbai Indians has won five IPL titles and is considered one of the most successful teams in the Indian Premier League (IPL). As the story goes, it is also one of the most valuable franchises. Apart from that, it has 50, 000 million fans on public networks, and the release of the NFT could give the Indians of Mumbai a new ability to bond with their fans. Unable to load all totals. Repeated retries…