Let's start at the beginning: What is an NFT?
NFT stands for non-fungible token. A non-fungible token is a unique, digital asset, managed on a blockchain. Each NFT contains unique data, meaning each NFT is not interchangeable. The data associated with the NFT is stored on the blockchain and also serves as your proof of ownership, which is what differentiates your NFT from, say, a screenshot you might take of the NFT from the Web. The image of the real NFT and the screenshot saved in your camera roll may look the same, but one is authentic and contains data which is stored on the blockchain that gives it value and the other is not - the same way an authentic Picasso painting has more value than a poster of that same image you might buy in an art gallery gift shop.
Now that you know what an NFT is - and why you might want one - let's dig deeper into what the Canadiens are selling andhow you can secure your own piece of digital Canadiens history.
The Canadiens are working with RSI, who created the
DropShop
platform, which is an NFT marketplace where users can buy and sell digital collectibles. Our first set of NFTs will be launched using a pack model: think of those Upper Deck and O-Pee-Chee card collections of your youth, but with a 2021 twist.
For four weeks beginning on September 2, every Tuesday, Thursday, and Saturday, we'll be "dropping" (NFT speak for "releasing") a limited number of packs at 1:00 p.m. and 4:00 p.m. ET. The early drop will feature our "Go Habs Go rare packs" which will retail for $50, and the later drop will include our "Go Habs Go base packs" which can be purchased for $25. Packs will be extremely limited, so be sure to join the digital "queue" 30 minutes prior to drop time for a chance to secure your pack.
So, what's in each pack? Each pack will contain a digital game puck from one of the Canadiens' 22 games from the 2021 playoff run and three digital art collectibles, which will range in rarity. The rarity of each item is based on the number that will be "minted" (the process of adding the collectible to the blockchain). Like any collectible, the rarer something is, the more value it has.
Go Habs Go base packs contain one limited edition and two common collectibles, whereas each Go Habs Go rare pack contains one rare and two limited edition collectibles. The value of each game puck that will be in the pack is based on the result from that game: losses are common, wins are limited, and series-clinching-win and our Stanley Cup Final win pucks are rare collectibles.
Once you purchase your pack, you can view it - and show it off! -- on your "Collection page" which is like your personal, online NFT gallery.
A few other fun facts for you: the DropShop blockchain uses the "Proof of Stake" protocol rather than the "Proof of Work" protocol, which reduces the environmental impact from 35-140 terawatt-hours (TWh) to 0.00079 TWh.
And if you're crypto-curious but not yet ready to pull the trigger on exchanging your paper cash for Ethereum just yet, this is a fantastic opportunity to dip your toe in the NFT waters. You don't need to own cryptocurrency to get in on the fun. During our initial launch, all purchases must be made with a credit card.
Sign up for your DropShop account now
and set your alarm for 12:30 p.m. on Thursday, September 2, when you'll have an opportunity to queue up for a chance to buy the first-ever Canadiens NFTs!
