- Credit Suisse and the Swiss Football Association are introducing an Ethereum NFT collection to support women’s football in Switzerland.
- This marks Credit Suisse’s entry into the NFT and demonstrates Ethereum’s dominance in the space.
Credit Suisse has officially announced its entry into the NFT space. The global investment bank and financial services firm based in Switzerland is partnering with the Swiss Football Association to support women’s football in Switzerland with an Ethereum-based NFT collection.
According to the firm’s website, the collection will consist of 756 digital art portraits of Swiss women’s national team players. The art portraits of Swiss women’s national team players will be on sale between July 11 to August 31 and will be sold exclusively via Credit Suisse’s CSX app. The website shows that prices are starting at around 150 Swiss francs ($170), while the 11 of the rarest are priced at over 10,000 Swiss francs ($11,000). The proceeding of this initiative will be used to support the national team as well as other women’s football initiatives.
Sandra Caviezel, head of partnerships and sponsorship at Credit Suisse noted;
These funds will on the one hand provide direct support to the women’s national team and on the other hand will be used for girls’ football projects and are thus earmarked for the promotion of young talent,
The firm also discussed its engagement in the NFT space. Daniel Gorrera, head of digital assets Switzerland at Credit Suisse stated that the firm was looking to make it easy for users to get involved in the NFT space. Furthermore, it is yet another way to explore the innovative digital space. Gorrera noted;
This project also paves the way for the innovative use of digital assets in new types of financing and servicing models. Within this space, Credit Suisse is well positioned for issuing parties that are looking for regulated partners.
Earlier this year, Credit Suisse became one of a dozen financial institutions to raise $65 million in funding for a Swiss firm developing market infrastructure for digital assets. Credit Suisse has continued to demonstrate its commitment to utilizing blockchain technology to boost efficiency and lower costs in its operations.
On top of showing confidence in blockchain technology, launching its NFT project on the Ethereum network, is an endorsement of Ethereum’s superiority in the NFT space. Despite declining NFT interest, digital art continues to demonstrate its use cases. With adoption still, on the rise, NFTs are set to be an integral pillar of blockchain technology.
Following the news of the Ethereum-based NFTs, the second-largest cryptocurrency has only recorded a marginal change of under 1 percent. Edging closer to the $2,000 mark, investors remain optimistic the token can hold above this resistance mark. At this level, the token is still more than 50 percent off its all-time high of $4,890 reached 2 years ago. Investors expect this level to be reached and surpassed during the next bull phase.
