Hall of Fame Resort & Entertainment Company, Pro Football Hall of Fame and I Got It Join Forces to Develop, Market and Sell One-of-a-Kind Non-Fungible Tokens

Rhea-AI Summary

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) has partnered with Pro Football Hall of Fame and I Got It to launch NFTs based on iconic football memorabilia. This collaboration aims to capitalize on the NFT market's growing demand, providing unique digital collectibles that celebrate pivotal moments in football history. The partnership is set to accelerate the digitization of Hall of Fame artifacts, offering fans innovative engagement opportunities. NFTs will be launched with a promotional giveaway to coincide with the 2022 NFL season kickoff.

Positive

• Partnership with Pro Football Hall of Fame and I Got It enhances NFT offerings.
• Expected revenue growth in media division due to high demand for football-related NFTs.
• Direct access to exclusive content for digital collectibles accelerating market entry.

Negative

• None.

NFTs to be centered on pivotal moments and memorabilia from professional football’s history that reside in the Pro Football Hall of Fame archives

CANTON, Ohio--(BUSINESS WIRE)-- Hall of Fame Resort & Entertainment Company (“HOFV”) (NASDAQ: HOFV, HOFVW), the Pro Football Hall of Fame (“PFHOF”) and I Got It (“IGI”) today announced a partnership designed to capitalize on the popularity of professional football and the strong demand for Non-Fungible Tokens (“NFTs”) and digital collectibles. Together, HOFV, PFHOF and IGI will develop, market and sell digital assets and NFTs centered around some of the most iconic moments and coveted memorabilia from the game’s history, which are memorialized inside the Pro Football Hall of Fame in Canton, Ohio.

The partnership, which capitalizes on the power of the relationship between HOFV and PFHOF, gives direct access to exclusive content and will give collectors and enthusiasts everywhere unique ways to engage. Working with a high-quality partner in IGI will allow the parties to digitize more of the artifacts inside the Hall of Fame and accelerate the speed at which they can deliver digital collectibles and NFTs to professional football fans around the world. The companies also plan to develop an engaging and interactive mobile platform to host the NFTs and supplement the museum experience that will be accessible through both the HOFV and PFHOF websites.

“Since the NFT market has become more mainstream early last year, we have been flooded with requests from fans of professional football for digital assets centered on some of the most pivotal moments and artifacts from the game’s history,” said Michael Crawford, President and CEO of HOFV. “Both HOFV and PFHOF spent the past few months working very closely poring through the thousands of unique items and footage memorialized inside the walls of the Hall of Fame that we could digitize and repackage as NFTs or digital collectibles. By partnering with IGI, one of the most respected names in this space, we are now in a position to expedite getting these assets into the market. Given our direct access to all of this iconic memorabilia and content, coupled with the high demand for NFTs tied to the most popular sport in the world, we expect this partnership to generate positive revenue growth in our media division while also having a significant impact on our other business verticals.”

HOFV, PFHOF and IGI will spend the next few months developing the digital collectibles and NFTs, and will begin offering them to the market this year. To celebrate the partnership, the companies will be launching a promotional giveaway contest that will include a special 1-of-1 PFHOF NFT and two VIP Hall of Fame Enshrinement packages for Enshrinement Weekend. All those who enter the NFT giveaway contest will be gifted a free commemorative PFHOF NFT, minted up to the number of entrants (one per entrant), and the opportunity to pre-purchase the first official NFTs, which are being timed to go on sale in tandem with the 2022 NFL regular season kick-off in September. In addition, up to 250 owners of the commemorative PFHOF NFT will be granted access to the museum free of charge. Additional details and complete rules surrounding the promotional contest will be announced in the coming weeks. Those wishing to join an early waitlist should visit www.profootballhof.com/nft and/or https://www.hofreco.com/p/entertainment/nfts2.

“Working with HOFV and IGI in this exciting and fast-growing medium will honor the Hall of Famers — the Hall’s primary mission – and we’ll get input from those players, coaches and contributors in this endeavor,” said Jim Porter, President of the Pro Football Hall of Fame. “The NFTs that are released will honor their legacies, while also reviving special moments pivotal to the rich history of professional football. The collectibles also can bring an educational component to younger fans, which will build interest in the game and expand its audience.”

“Our goals are to continue to honor the sport that we all love, and grow and preserve the enterprise value of our NFTs through longevity and utility. I believe the NFT community and football fans will love what’s in store as far as product roadmap – including private museum collections and metaverse applications. We are committed to developing a robust microeconomy and community along with our great partners,” remarked Nicole Johnson, Co-Founder of I Got It.

About Hall of Fame Resort & Entertainment Company

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame’s campus. Additional information on the Company can be found at www.HOFREco.com.

About the Hall of Fame Village powered by Johnson Controls

Hall of Fame Village powered by Johnson Controls is a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame’s campus in Canton, Ohio. Owned by the Hall of Fame Resort and Entertainment Company (NASDAQ: HOFV, HOFVW), the Village currently has over $250 million worth of assets under management and is one of the largest ongoing construction projects in Ohio. Phase I of the project entailed the construction of the Tom Benson Hall of Fame Stadium, a world-class 20,000 seat, sports and entertainment stadium, and the National Youth Football and Sports Complex. Phase II, currently under construction, will add the Constellation Center for Excellence, the Center for Performance, a Fan Engagement Zone, a Hall of Fame indoor waterpark and a Hilton Tapestry Hotel. Phase III is currently in planning stages. For more information, visit www.HOFVillage.com.

About Pro Football Hall of Fame

The Pro Football Hall of Fame is a 501(c)(3) not-for-profit educational institution that focuses on the education, promotion, preservation and honoring of the individuals and moments that shaped professional football’s history. Opened in 1963 in Canton, Ohio, the 118,000 square-foot, internationally-recognized museum is continuously improving with exhibit renovations – four in the last 10 years – and other advancement to give guests a chance to experience football’s past, present and future. The largest and most recent expansion of 38,000 square feet was completed in 2013. For more information on the Hall of Fame, its Mission Statement, the Hall of Fame Store and more, please visit the Official Pro Football Hall of Fame Website at www.profootballhof.com.

About I Got It

I Got It is a technology company devoted to providing best-in-class software solutions to support partners in their pursuit to increase fan engagement and drive revenue, through its unique marketplace and patented auction platform. On these marketplaces, partners can offer in-game memorabilia, unique experiences, Metabilia™, and digital collectibles (non-fungible tokens). I Got It has multi-year partnerships with franchises in the NFL and NBA and has direct deals with over 40+ elite athletes across sports. The company is on the leading-edge of innovation of non-fungible tokens and is well-positioned in the convergence of physical memorabilia and NFTs and the convergence of collecting NFTs and investing. I Got It offers portability amongst blockchains and can provide end-to-end minting and turnkey issuance and secondary trading platforms for its partners. While I Got It can deliver its technology as a standalone app or as a white label solution, it also offers an integrated feature, bringing the action to existing users of the respective team or partner apps. I Got It is privately held by its executive team, founders, athlete partners and several third party investors. For more information, visit www.igotit-nft.com, download one of I Got It’s existing partner apps, and follow I Got It on social media: @igotitauction for IG, FB and TW.

Forward-Looking Statements

Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words and phrases such as “opportunity,” “future,” “will,” “goal,” and “look forward” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to manage growth; the Company’s ability to execute its business plan and meet its projections, including refinancing its existing term loan and obtaining financing to construct planned facilities; potential litigation involving the Company; changes in applicable laws or regulations; general economic and market conditions impacting demand for the Company’s products and services, and in particular economic and market conditions in the resort and entertainment industry; the potential adverse effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic conditions, unemployment and the Company’s liquidity, operations and personnel, the inability to maintain the listing of the Company’s shares on Nasdaq, as well as those risks and uncertainties discussed from time to time in our reports and other public filings with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220211005118/en/

Media/Investor Contacts:

For Hall of Fame Resort & Entertainment Company

Media Inquiries: public.relations@hofreco.com

Investor Inquiries: investor.relations@hofreco.com

For I Got It Holdings Corporation:

Nicole Johnson, Co-Founder

info@igotitapp.com

Source: Hall of Fame Resort & Entertainment Company

FAQ

What is Hall of Fame Resort & Entertainment Company's latest NFT partnership about?

HOFV has partnered with Pro Football Hall of Fame and I Got It to create and sell NFTs based on professional football memorabilia.

How will NFTs be marketed in the new partnership involving HOFV?

The NFTs will be marketed as digital collectibles focused on iconic moments from football history.

When will the NFTs from HOFV's partnership become available?

NFTs are expected to launch in conjunction with the 2022 NFL season kickoff in September.

What is the expected impact of the NFT initiative on HOFV's financial performance?

The partnership is anticipated to generate positive revenue growth for HOFV's media division.

What promotional events are planned for the NFT launch by HOFV?

A giveaway contest will offer a special NFT and VIP packages for Enshrinement Weekend.