Liga MX team Necaxa is selling off 1% ownership as an NFT auction. Tickets, access, even championship rings? Sounds amazing, right? Hold on. Is this a brilliant new strategy to connect with fervent fans, or are we witnessing a digital fleecing of enthusiasm? Future of sports ownership or just a heavily perfumed Ponzi scheme?
Ownership or Just Souvenir?
Let's be real. One percent of a team that they admit would only be worth in the “low-nine figures” means a lack of real decision-making power. You're not picking the starting lineup. You're not negotiating player contracts. You’re just purchasing one extremely costly, ultra-limited availability season pass with the corresponding social cachet.
What does the promise of permanent equity really mean over the long term. Is this 1% really going to be safe from some future financial shell game? Or will backdoor loopholes and fine print ultimately water it down? This isn't about empowering fans, is it? It’s about producing a low-cost product that milks the hyper-enthusiast segment—and its premium-priced, die-hard loyalists—who are ready to open their wallets wide.
Imagine the Premier Lacrosse League’s “Owner’s Passes” or the Golden State Warriors’ “Warrior for a Day” experience. Those are novelties, of course, experiences linked to digital collectibles. Necaxa's NFT is different. Under the guise of equity, real or implied, this crosses the line between fan engagement and financial investment. And that's where things get ethically murky.
Affordable for Whom Exactly?
The provided press release is silent on what their starting bid will be set at. We can do some quick math. If the club is valued at $100 million, then 1% is $1 million. Of course, the value of the NFT will be far more accessible than that, but still, the question remains: who exactly are these NFTs for?
The poor average Necaxa fan, eking out a daily existence in tough times, surely would not be able to pay these. This isn’t about making sure everybody has a piece of the ownership. Rather, it is about creating a speculative new revenue stream attractive to impact-minded wealthy investors and crypto enthusiasts looking for profit.
Consider this in the African context. While fan ownership models are found throughout African football, they are deeply rooted in community-based initiatives, often created to give power to the local supporters. Now imagine trying to sell that same $10,000+ NFT to a fan in Nairobi or Lagos. The economic realities are drastically different. This is where one of the most obvious opportunities for exploitation appears.
This isn't just about Necaxa. That’s all part of the larger trend of sports teams trying to maximize use of their digital real estate. Are we building a system where only the affluent can actually engage in sports that are meaningful to them? Are we making fandom the newest luxury good?
Innovation or Digital Predation?
The NFT market has cooled off, sure. But I think that’s different than saying the underlying technology is dead. That suggests the initial hype has worn off, and we’re beginning to see some more thoughtful applications. Necaxa's NFT could be innovative. And it would certainly open up all sorts of other opportunities for innovative and exciting ways to engage with fans.
It might be a worst-case scenario, cynical cash grab, simply exploiting the passion of fans to make a quick buck. Without a commitment to transparency overall along with specific ethical guidelines it risks alienating the very people it should serve.
We need to ask tough questions. What rules exist to safeguard against manipulation of the market? What guarantees can supporters expect to ensure that their “ownership” actually gives them genuine power and influence. And then what if the NFT market goes to hell? Does the value of their new “equity” disappear into a black hole?
This is where the “surprising connection” comes to play. Think about the history of art collecting. For one thing, for centuries, art has been a store of value, a status symbol, and a playground for the rich. NFTs, to an extent, are the digital version. Have we just moved the inequities of the art world into our new sport?
Necaxa will have to show that this isn’t just another get-rich-quick scheme. They will have to prove that, despite the hype, they are committed to bringing fans into the fold ethically. Moreover, they must be clear about the risks alongside the potential benefits. And they have to be sure that this NFT offering doesn’t increase inequalities that are already the case.
If not, it’s just another example of a franchise taking advantage of its biggest fans. Then they cover their huge incompetence up with a shiny coat of “innovation.” And frankly, that’s not a winning strategy. It's predation, plain and simple. The outrage in this case is that Necaxa is toying with the fans, and they must be very, very cautious.
