Credit Suisse will launch Ethereum NFTs in partnership with the Swiss Football Association

Author: Yogita Khatri, THE BLOCK; Compilation: Song Xue, Blocking

Credit Suisse has partnered with the Swiss Football Association to launch an Ethereum-based NFT series to support Swiss women’s football.

According to the Credit Suisse website, the NFT series consists of 756 digital art portraits of Swiss women’s national team players and will be exclusively launched through Credit Suisse’s CSX app from July 11 to August 31.

“As we designed this product, we consciously tried to make it easy for users to participate in the evolving NFT world,” said Daniel Gorrera, head of digital assets at Credit Suisse, in a statement. “The project also paves the way for innovative applications of digital assets in new financing and service models. In this field, Credit Suisse is in a favorable position for issuers seeking regulated partners.”

The news marks Credit Suisse’s entry into the NFT space. Earlier this year, Credit Suisse led a $65 million Series B funding round for Swiss digital asset infrastructure company Taurus, which was sold to rival UBS Group for $3.2 billion last month amid concerns over its collapse in March. Taurus is also a technical partner of Credit Suisse’s NFT market CSX app.

Specifically, Credit Suisse uses Taurus-Capital to issue and manage the life cycle of Swiss Football Association NFTs, and Taurus-Protect for secure NFT storage. The statement said that NFTs have been deployed on the Ethereum blockchain network through Taurus’ infrastructure.

Credit Suisse uses Ethereum to provide NFT services.

The 756 NFTs are divided into three parts, including “unique” (1 NFT per player), “rare” (5 different NFTs per player) and “limited” (30 different NFTs per player). Thus, the unique NFT series will have a total of 11 NFTs, the rare series will have a total of 55 NFTs, and the limited series will have a total of 690 NFTs. The unique series is priced at CHF 10,000 (approximately $11,165) per piece, the rare series is priced at CHF 3,500 per piece, and the limited series is priced at CHF 150 per piece.

The physical artwork was created by Swiss artist Daniela Filippelli. Credit Suisse subsequently minted an NFT on the Ethereum blockchain. Users looking to purchase the NFT do not need an external wallet or cryptocurrency. Payment will be accepted via direct account debit in Swiss francs, and the NFT will be stored in the CSX app.Depending on the package, NFT sales also include additional perks such as physical artwork, signed jerseys, or exclusive meet-and-greets with players.In another statement, Credit Suisse said, “Every purchase amount will be used to support the promotion of women’s soccer, and all net proceeds will be used for national team players and selected projects to develop talented young female soccer players.”

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