Mobile Streams plc Mobile Streams signs NFT contract with LPGA golfer (2232G)
14 November 2022 - 6:00PM
UK Regulatory
TIDMMOS
RNS Number : 2232G
Mobile Streams plc
14 November 2022
14th November 2022
Mobile Streams plc
("MOS" or "the Company")
Mobile Streams signs NFT contract with LPGA golfer Gaby
Lopez
Mobile Streams plc, the AIM quoted mobile content and data
intelligence company, is delighted to announce it has signed a
5-year contract to be the exclusive provider of all NFTs for LPGA
golfer Gaby Lopez.
The current leading female golfer in Mexico and one of the best
players in the world Gaby Lopez is known globally and carried her
nation's flag in the 2020 Tokyo Olympics. Her rookie year was in
2016 and the year to date is her most successful yet. She has 3
career victories on the LPGA tour and plays in tournaments all over
the world. The LPGA named her the Latin American Golfer of the
Decade. Gaby has been the best female player 7 years in a row from
the Bravo river in México to the Patagonia in Argentina.
MOS will produce a large range of NFTs for Gaby Lopez. These
NFTs will help to engage and reward her fans as well as reaching
new ones. They will be sold via a primary marketplace on
HeroesNFTclub that MOS is creating for her and can also be accessed
via digital touch points, such as the Gaby Lopez website and social
media accounts. Additionally, the NFTs will be sold via MOS's telco
contracts globally, its LiveScores sites and Apps and the
MOSMetaverse website. They will be marketed across the world to
fans globally.
This announcement expands the the MOS "HeroesNFTclub" brand into
the Golf sector. This is part of a strategy to increase reach and
the strength of the brand across different vertical sporting
revenue streams. The Company is actively engaged in further NFT
deals and announcements on these will be made when appropriate.
Mark Epstein, CEO Mobile Streams plc, said: "It's a privilege to
have signed Gaby Lopez to HeroesNFTClub. Gaby is an amazing and
hugely popular golfer, known not only in Mexico but all over the
world. We can't wait to produce some great products together that
her fans will love."
Gaby Lopez said: "I am delighted be partnering with Mobile
Streams for my NFTs. I look forward to the partnership producing a
new generation of digital merchandise for my fans that drives
engagement, participation and rewards my amazing supporters. I look
forward to a long and successful partnership."
Under the terms of the Agreement, the parties have agreed a
target revenue figure over the 5 years of the contract of which
MOS's share is approximately USD 3.6 million. This net figure,
which is a target agreed between MOS and Gaby Lopez and not a
forecast or guidance as to what will actually be achieved, is the
estimated revenue MOS will receive after any revenue-share payments
have been made. Revenue from the NFTs will come from both the sale
price of the NFT and a royalty generated from them each time they
are traded in perpetuity, these royalties are typically 5-10% of
the sale price. The Agreement also requires MOS to make an initial
cash payment to Gaby Lopez, which is well covered by the Group's
existing cash and cash equivalents, and if certain revenue targets
in a year are met then a minimum revenue guarantee would exist for
the next year. However, in the context of the revenue that MOS
would receive for this to be activated, the Board considers these
would be modest and achievable from within the next year's revenue
that MOS expects to receive from the contract. The Board further
believes that, noting the expected recurring nature of NFT
revenues, it estimates that its maximum net exposure, under all but
the most extreme worst case commercial assumptions, including the
upfront cash fee, would be approximately USD30,000 over the first 3
years of the Agreement. The Agreement contains a 3-year break
clause and standard terms for termination.
Furthermore, under the Agreement MOS will issue Gaby Lopez with
USD10,000 of Ordinary Shares at the 3 month VWAP prior to the share
issue; such issue to proceed once the Directors have adequate
shareholder authorities to issue additional shares at a Meeting of
Shareholders to be convened in due course. It is intended there
will also be a one year hard lock-in on the shares as there will
also be with the shares to be issued to Necaxa as announced on 10
November 2022.
Non-Fungible Tokens ("NFTs") are digital data stored in a
blockchain, a form of distributed ledger. The ownership of an NFT
is recorded in the blockchain, and can be transferred by the owner,
allowing NFTs to be sold and traded. In effect the Company's
products are digital merchandise. An example would be a sports
trading card - NFTs produced under this contract are one-of-a-kind
trading cards. If you traded it for a different card, you'd have
something completely different.
The global NFT market is expected to reach USD122 billion in
size by 2028, with more than USD17 billion in sales in 2021 and
USD35 Billion expected to be generated this year. The fastest
growing sector within this space is the sports NFT market and the
Company believes this contract win further demonstrates that the
business is now very well positioned within this sector.
For further information, please contact: Mobile Streams plc
Nigel Burton, Adviser
+44 77 8523 4447
www.mobilestreams.com
Beaumont Cornish (Nominated Adviser)
James Biddle and Roland Cornish
+44 (0) 20 7628 3396
Peterhouse Capital Limited (Broker)
Lucy Williams and Duncan Vasey
+44 (0) 20 7469 0930
About Mobile Streams
Mobile Streams delivers world class gaming content to a global
audience, through its LiveScores and mobilegaming.com platforms,
our long-standing carrier relationships in countries including
India, Argentina and Mexico, and through our
https://heroesnftclub.com/ site.
Our Streams data insight, intelligence and visualisation
services and marketing optimisation tools support the content
business, as well as serving enterprise level bespoke clients and
the Streams SaaS ("Software as a Service") self-service platform.
Our strategy is to deliver next-generation content including
gaming, Esports and related NFTs to a global audience.
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