Mumbai Indians Become the First IPL Team to Have Their Own NFTs

Mumbai Indians has invited proposals from both global and Indian entities to launch the NFTs

Mumbai Indians, an Indian Premier League cricket franchise owned by Indiawin Sports Private Limited of Reliance Industries, has issued a request for proposals for its own NFTs (non-fungible tokens) or digital collectibles. In short, Mumbai Indians have become the first IPL team to have their own NFTs.

Mumbai Indians, a franchise cricket team, has released a request for proposals (RFP) for the creation and monetization of non-fungible tokens based on its digital intellectual rights (NFTs). In order to maximize the value of the team's global brand, the franchise said it is looking for a company to provide services related to the creation and monetization of specific licensed digital collectibles in the form of NFTs generated from its intellectual properties. This is the only IPL team to have requested bids; other franchises are working on creating their own digital artifacts. Mumbai Indians' parent organization, Indiawin Sports Private Limited (ISPL), which is a part of the oil-to-telecom giant Reliance Industries Limited, is referred to as the ISPL (RIL).

Five-time winners of the IPL The Mumbai Indians will have their own NFTs and are getting ready to explore the realm of virtual money. One of the most well-known franchises in the world is Mumbai Indians, and the five-time champions were ranked as the top IPL franchise brand in Brand Finance's 2021 IPL ranking. Given their popularity among viewers, it only seems natural that ISPL has chosen to focus on the creation and monetization of its digital intellectual products via NFTs. The request for proposal (RFP) will be made available to interested businesses for a non-refundable cost of INR 1 Lakh, per the material on the Mumbai Indians website. Purchases of the RFP may be made by January 17. The possible bidders will be shortlisted after the application deadline, with ISPL reserving "the right to terminate or change the bidding process at any time in any manner without providing any reason."