MSG Sports (MSGS) NY Rangers offers first NFT

20:45, 18 January 2022

Share this article

Have a confidential tip for our reporters?

Madison Square Garden
MSG Sports, NY Rangers offering first-ever NFT - Photo: Shutterstock

The New York Rangers National Hockey League (NHL) team is offering its first-ever non-fungible token (NFT) series in three separate tiers, the company announced Tuesday. The offering is in conjunction with the pre-game commemoration ceremony honouring former Rangers player Hendrik Lundqvist on 28 January.

Lundqvist was a Rangers’ goaltender for the team for 15 seasons from 2005 until 2020. A Vezina Trophy winner for the NHL’s best goaltender, Lundqvist holds the record for wins by a Rangers goaltender, as well as wins by a European-born goaltender with 459.

Three-tiered offerings

On sale today are 5,000 digital commemorative tickets in NFT form for the Rangers game on 28 January against the NHL’s Minnesota Wild, during which the Rangers former goaltender will be honoured with a number retirement ceremony. Classified as a “Common,” the NFTs are $20 each and owners do not gain entry into Madison Square Garden for the game.

Up for auction starting today are five NFT packages, classified as “Rare,” which come with a merchandise bundle consisting of a Rangers jersey, shirt, cap, banner and commemorative pin, as well as a signed commemorative book. Bids for the “Rare” NFT offerings start at $200 and bidding closes at 10:00 a.m. EST (UTC -5) on 25 January.

A single one-of-one NFT, classified as “Legendary,” includes two game tickets, an autographed goalie stick, as well as the commemorative game ticket. Bids for the “Legendary” tier NFT start at $1,000 and bidding closes at 10:00 a.m. on 25 January.

NY Rangers NFTsNY Rangers NFTs - Photo: New York Rangers

First-ever NFT for Rangers

“We are constantly looking for fresh and innovative ways to engage with our fans, and we see the emergence of digital collectables, which combine sports and technology, as a fun way for fans to connect with the team,” said MSG Sports EVP David Hopkinson. “Tying in the first-ever Rangers NFT products with the Henrik Lundqvist Night game is the perfect way to celebrate this.”

All three tiers of NFTs are available through the Rangers’ digital platform partner DropShop.

The New York Rangers are wholly owned by MSG Sports, which also owns the National Basketball Association’s New York Knicks.  New York-based MSG Sports’ other sports assets include the developmental Hartford Wolfpack of the AHL and Westchester Knicks of the NBA’s G League. Additionally MSG Sports owns esports teams through Counter Logic Gaming and Knicks Gaming of the NBA 2K League esports league.

MSG Sports stock trades on the NYSE under the ticker MSGS.

Read more: As sports return to NYC, MSG Sports beats EPS estimates by 467.7%

 

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?


Join the 380.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account

2. Make your first deposit

3. You’re all set. Start trading