NFTs Included In Agreement Extension Between NHL, Upper Deck
An expanded licensing agreement between the NHL, NHLPA and The Upper Deck Company will include a new NFT platform dubbed Evolution.
The program will launch this winter and allow fans and followers of the NHL to collect and trade never-before-seen licensed NFTs.
NFTs, short for non-fungible tokens, are a digital asset linking ownership to one-of-a-kind items. They’ve taken the world by storm over the last calendar year with sales surging to $2.5-billion in the first half of 2021, Reuters reported in July.
“Upper Deck’s focus has always been on creating the best experience possible for collectors,” said Jason Masherah, President of Upper Deck in a statement. “With our proven track record and omni-channel strategy, we are able to empower the end-consumer to engage with the hobby through whatever way they prefer, whether trading card shops, mass retailers, direct to consumer, or online. For now, and into the future.”
The parties also announced a long-term extension that allows Upper Deck to continue to be the exclusive licensed manufacturer of physical trading cards.
Zach Laing is the Nation Network’s news director and senior columnist. He can be followed on Twitter at @zjlaing, or reached by email at zach@oilersnation.com.