- DAZN was operating at a loss prior to the recapitalisation
- The influx of new capital has cleared the company of all debt.
- DAZN has previously launched boxing NFTs.
Sports video-streaming subscription service DAZN is preparing to make moves into NFTs, sports betting and gaming after receiving a new capital of $4.3 million injected by billionaire businessman Len Blavatnik.
DAZN’s principal shareholder Access Industries – a multinational corporation owned by Blavatnik – has confirmed that it has acquired $4.3 billion worth of shares in the sports media company.
The company was operating at a loss prior to this new capital injection and has been cleared of all its debt with the cash boost.
The global over-the-top sports video streaming subscription company carries live and on-demand streaming of sports events. It holds streaming rights to FIFA World Cup Qualification, English Football League, NBA, UFC and more.
With new money injected into the company, DAZN has its sights set on bigger moves into the NFT space, though it has not yet revealed further details. Last April, the company launched boxing NFTs to commemorate Canelo Alvarez’s clash with Billy Joe Saunders.
The highest-priced NFT in the collection is a 1/1 footage of Canelo’s Uppercut that forced Saunders to quit the match, ending the fight in a TKO and giving Canelo his 56th win and 38th knockout. The iconic moment is listed for 15 ETH.
Sports organisations have been jumping into the NFT craze in recent months. The Premier League has shortlisted four blockchain firms for an NFT licensing deal worth up to $589M.
In January, international sports betting and gaming conglomerate, Entain, announced its innovation hub for VR arcades and NFT roll-outs, funded with $134 million.
Other sports and boxing associations that have launched NFTs include NBA, NFL, and UFC.