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Beijing Guoan Football Club Releases NFTs

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Beijing Guoan Football Club released a collection of non-fungible tokens (NFTs) called GLEO.

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The NFTs can be used as avatars in the club's virtual stadium, set to open next year.

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A 10-day lottery is being held to give away 10,000 free NFTs.

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The NFTs were issued on China Mobile's Shucangbao platform, which runs on the Zhong Yi Chain blockchain.

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Major football teams like FC Barcelona and Paris Saint-Germain have started selling NFTs to get closer to fans.

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Sotheby's sold the first NFT from Barcelona for $693,000 last July.

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NFTs are not only popular in football, but also in basketball, with NBA Top Shot ranking seventh in all-time sales.

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Many businesses in China are using NFT and metaverse-related products.

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The country's market regulator has warned about illegal ways to raise money using blockchain-based ideas.

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The NFTs issued by Beijing Guoan Football Club were issued on a state-owned platform.

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