Five times winners of the IPL Indiawin Sports Pvt Ltd (ISPL), the parent company of the Mumbai-based franchise, has asked for its digital collectibles Non-Fungible Tokens (NFTs) to be ready. The Mumbai Indians will be the first IPL team to use NFTs to increase the value of their brand around the world.
Mumbai Indians One of the most well-known franchises in the world, and according to a recent report by consulting firm Brand Finance, the five-time winners were the best IPL franchise brand in 2021. Since people like them so much, it makes sense that ISPL has decided to focus on developing and making money from its digital intellectual properties through NFTs.
According to information on the Mumbai Indians website, interested companies would be able to obtain a request for proposal (RFP) for a non-refundable charge of Rs 1 lakh. Until January 17, the RFP will be available for purchase. ISPL reserves the right to cancel or modify the bidding process at any stage and for any reason. After the application deadline, ISPL will evaluate the applications and then shortlist the potential candidates.
“ISPL invites proposals from global and Indian entities to create and launch NFTs based on its existing IP and leverage the global brand value of Mumbai Indians. The detailed terms and conditions governing the RFP process include eligibility requirements, bids The procedure, rights, and obligations, etc., for the submission of the RFP, which will be made available upon receipt of payment of a non-refundable fee of Rs.100,000/- (Indian Rupees One Lakh only), plus any applicable items and Service Tax,” ISPL said.
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