Credit Suisse to launch Ethereum NFT with Swiss Football Association

Author: Yogita Khatri, THE BLOCK; Compiler: Songxue, Jinse Finance

Credit Suisse has teamed up with the Swiss Football Association to launch an Ethereum-based NFT collection to support the Swiss women's football team.

According to information on the Credit Suisse website, the NFT series consists of 756 digital art portraits of the Swiss women's national football team players and will be available exclusively through Credit Suisse's CSX app from July 11 to August 31.

Daniel Gorrera, head of digital assets at Credit Suisse, said in a statement: "When we designed this product, we consciously tried to make it easy for users to participate in the evolving NFT world." Innovative applications in funding and servicing models pave the way. In this area, Credit Suisse is well-positioned for issuers seeking regulated partners."

The news marks Credit Suisse's entry into the NFT space. Earlier this year, Credit Suisse led a $65 million Series B round for Swiss digital asset infrastructure firm Taurus, a month after it was forcibly sold by Swiss authorities for $3.2 billion amid fears it would collapse in March. to rival UBS Group. Taurus is also a technology partner for the CSX application on Credit Suisse's NFT marketplace.

Specifically, **Credit Suisse uses Taurus-Capital for the issuance and life cycle management of the Swiss Football Association NFT, and uses Taurus-Protect for the secure storage of NFT. The NFT has been deployed on the Ethereum blockchain network through Taurus’ infrastructure, the statement said. **

Credit Suisse uses Ethereum to provide NFT services

The 756 NFTs are divided into three sections, including "Unique" (1 NFT per player), "Rare" (5 different NFTs per player), and "Limited" (30 different NFTs per player). That way, the unique NFT series will have a total of 11 NFTs, the rare series will have a total of 55 NFTs, and the limited series will have a total of 690 NFTs. Unique collections are priced at CHF 10,000 (approximately US$11,165) each, rare collections are priced at CHF 3,500 each, and limited series are priced at CHF 150 each.

**Physical artwork by Swiss artist Daniela Filippelli. Credit Suisse then minted the NFT on the Ethereum blockchain. Users who want to buy NFTs do not need external wallets or cryptocurrencies. Payments will only be accepted in CHF via direct account debit and the NFT will be stored in the CSX app. **

Depending on the package, NFT sales also include perks such as physical artwork, signed jerseys, or exclusive meet and greets with players.

In a separate statement, Credit Suisse said: "The amount of each purchase will be used to support the promotion of women's football, with all net proceeds going to national team players and selected programs to develop talented young female footballers."