By Joe Hoppe
Mobile Streams said Thursday that it has signed a five-year contract to exclusively produce non-fungible tokens for the Mexico City-based football team Atlante Football Club.
The AIM-quoted mobile-content and data-intelligence company said that under the terms of the agreement, the parties have agreed on a target revenue figure for the course of the contract, and Mobile's share after making revenue-share payments is estimated at around $3.7 million.
The agreement requires Mobile to make a small initial cash payment to Atlante, along with a minimum revenue guarantee if certain targets are met in a year. It contains a three-year break clause.
Mobile Streams will earn revenue from both the initial sale and further NFT trades in perpetuity. Royalties are typically 5%-10% of the sale price.
"This deal, coming after the Pumas and Mexico National team contracts, underlines how well we are doing in the territory and our commitment to it," Chief Executive Mark Epstein said.
Shares at 0741 GMT were flat on 0.29 pence.
Write to Joe Hoppe at email@example.com
(END) Dow Jones Newswires