Life Clips subsidiary BelfricsBT & KPR Info Solution sign MoU with Chennai City FC!

Life Clips, Inc. have announced today that BelfricsBT, one of the fastest growing blockchain platforms of India, has signed an MoU with Chennai City FC and KPR Info Solution to develop a first-of-its-kind hybrid blockchain solution for athletes and club management. BelfricsBT will work closely with Chennai City FC pairing its knowledge of the technology with the Club’s vision to shape a unique NFT product. Chennai City FC will be the first adopter of the solution.

The solution will allow Clubs to control the creation of NFTs based upon their branding and players and own the revenue stream they generate.

BelfricsBT plans to work closely with KPR Info Solution, the technology development entity of KPR Group, as a non-exclusive technology partner for the development of this innovative blockchain solution. This hybrid blockchain based solution for sports utilizes NFTs and Club tokens to bring all the stake holders of the game on to a single decentralized platform.

Speaking on this unique initiative, Praveen Kumar, Founder & CEO Belfrics Group, said, “The disruption in the sports industry with the help of blockchain solutions is opening up multiple revenue streams for Sports Clubs across the world. This solution will allow sports and club management to create and control digital assets, improving the player effectiveness and club’s operations and revenue. Sports clubs have seen a tremendous rise in India over the past 5 years with billion-dollar leagues in Football, Cricket, and Kabaddi. The global sports ecosystem open for blockchain adoption is valued at $22 Billion as of 2021 of which India has a market share that is worth $796 Million. We are looking at disrupting this sector with the help of our innovative blockchain solution.” Mr. Kumar continued, “This would be our first blockchain project with our partners KPR Solutions. Going forward, we intend to work with them and develop multiple such projects across all sports categories.”

Gowrish Subramanian, CEO of KPR Info Solution said, “KPR Info Solution is happy to partner with BelfricsBT in developing blockchain projects, especially in the sports industry, which has numerous opportunities. We aim to be an integral technology compeer in the future for BelfricsBT.”

Rohit Ramesh, CEO and Owner of the Chennai City FC said, “We are delighted to be associated with Belfrics and KPR for this unique opportunity. As a club, the influence of NFTs and fan tokens provides us a wider spectrum to look beyond and to create a better valuation for our players in various categories, as well as the Chennai City FC.”

Robert Grinberg, CEO and President of Life Clips, Inc. said, “Over the next several years, the emerging digital ecosystem that is the metaverse is going to become more and more commonplace in daily life. According to a recent article in Forbes, if Ether, Bitcoin and other cryptos are the money of the metaverse, then NFTs represent the stuff that fills up the metaverse. The trading volume of NFTs is estimated to surpass $24 billion, up from only $0.1 billion last year.” Mr. Grinberg continued, “This Hybrid blockchain solution of NFTs and Club tokens by BelfricsBT and KPR Info Solution is truly a landmark transaction. As of today, I am officially a big fan of the Chennai City FC.”

About Arunava Chaudhuri

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