Mobile Streams sells out first NFT 'drop' for Mexican national team

The AIM-traded firm said whitelist early-entry NFTs were sold for $50 each, with the price of them rising to $100 by 1500 CDT on Monday.

Total sales from the drop were currently in excess of $60,000, and continuing to rise.

Additionally, the company said it would receive 5% of any future resale value from the cards through its embedded NFT royalty.

It was the first drop “of many” for the Mexican national team, with Mobile Streams adding that with the FIFA World Cup starting soon, customers could expect a “significant” number of drops to happen in the near future.

Mobile Streams also announced revenue for the three months ended 30 September came in at $0.62m, representing a year-on-year increase of 268%.

“We are delighted with the results of our first launch of Mexican national team NFTs,” said chief executive officer Mark Epstein.

“This is just the first of many NFT drops we will be doing for the national team, with a significant number due to take place in the upcoming World Cup period and beyond we expect this licence to grow rapidly.

“We are also looking to sign additional contracts and further announcements on these will be made in due course.”

At 1435 BST, shares in Mobile Streams were down 0.59% at 0.18p.

Reporting by Josh White at Sharecast.com.