Credit Suisse calls its NFT initiative a "simple and client-friendly" method to introduce digital assets to a "broad client base."
On July 3rd, Credit Suisse, a Swiss multinational investment bank, announced its first-ever foray into the world of non-fungible tokens (NFTs).
The bank is set to collaborate with the Swiss Football Association to create and sell 756 unique Ethereum-based NFTs. The sale of NFTs is set to start on July 11th, with the proceeds entirely directed towards promoting women's football in Switzerland.
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Taking a distinct approach to NFT acquisition, Credit Suisse will facilitate purchases using Swiss francs rather than cryptocurrency.
Prospective buyers do not need a cryptocurrency wallet to participate. Instead, the acquired NFT will be accessible through the CSX app as the bank extends its digital assets functionality.
The NFTs for sale each represent a player from the Swiss Women's National Football Team. The bank has cleverly categorized the NFTs into three distinct rarity levels, which also determine the perks and benefits attached to them.
A total of 690 NFTs represent the lowest level of rarity and will be sold at approximately $170 each. On the other hand, the 11 most sought-after NFTs are pegged at a hefty price of over $11,000 (ranging from 150 to 10,000 Swiss francs).
Credit Suisse describes this initiative as a "simple and client-friendly" method to expose a "broad client base" to digital assets.
When commenting on the initiative, Credit Suisse Head of Partnerships and Sponsorship, Sandra Caviezel, shared her excitement about the new project with the Swiss Football Association.
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.
This innovative venture by Credit Suisse marks a crucial step in the financial institution's venture into the digital assets sphere. By directing the proceeds to support women's football, the bank ensures a positive social impact as it explores the growing potential of NFTs.
