Ipermatch, the fantasy football-management game that unites sport and fintech in a single app, has recently launched the first Initial Item Offering (IIO) by an Italian start-up: the transaction allows the participants to buy through an exclusive advance sale non fungible tokens (Nft) in the game and "digital figurines" representing the most popular series A footballers, who are then deployed then in formation in the virtual tournament.
Osborne Clarke, with partner Umberto Piattelli, Head of Financial Services, advised Ipermatch in the preparation of all the documentation supporting the IIO, in drafting the contractual documentation and on regulatory issues connected with the setting up of the platform and the interface for the use of cryptocurrencies.
Each Nft, coined on blockchain technology in a limited edition, is validated by a smart contract and has a sporting and economic individuality, certified on the distributed registers.
Each football player’s performance during the real football league matches will be elaborated by the app’s artificial intelligence to generate points that will allow the team to rise in the tables and win prizes.
Throughout the season the ‘managers’ can carry out exchanges and sales and purchases within the Ipermatch marketplace, using the cryptocurrency, and potentially generating gains.