Hall of Fame Resort & Entertainment Stock Price Increased Over 8% Pre-Market: Why It Happened

By Amit Chowdhry ● April 8, 2021
  • The stock price of Hall of Fame Resort & Entertainment Company (Nasdaq: HOFV) increased by over 8% pre-market. This is why it happened.

The stock price of Hall of Fame Resort & Entertainment Company (Nasdaq: HOFV) – the only resort, entertainment and media company centered around professional football – increased by over 8% pre-market. Investors appear to be responding to the company announcing its first non-fungible tokens (NFTs) offering in partnership with Dolphin Entertainment (NASDAQ: DLPN) and Elite Holdings LLC, the entity which owns H2H. Together, the companies are going to develop, market, promote and sell NFTs associated with the H2H Legends.

The first 3 NFT offerings will be connected to the exclusive group of H2H Legends. And these athletes are among the greatest to ever take the field, both in college and professionally, and include wide receiver Tim Brown and running backs Earl Campbell and Doak Walker. By utilizing Dolphin Entertainment’s direct access to some of the most elite creative artists in the industry, the H2H Legends’ likenesses will be brought to life in the quickly evolving NFT universe.

The NFT offering is an extension of HOFV’s previously announced partnership with Elite Holdings in creating, producing, and distributing The Perfect Ten, the original documentary showcasing the life and accomplishments of the H2H Legends.

KEY QUOTE:

“As an organization that operates at the intersection of sports and entertainment, it is our responsibility to leverage the access we have to unique content to build one-of-a-kind fan engagement opportunities across all of our business verticals. The demand for NFTs associated with sports has already been overwhelming. Given the brand partnerships we have with entities like the NFL Alumni Association, the Pro Football Hall of Fame and many others, we will continue to create a strong pipeline of content that will excite consumers for years to come.”

“I am thrilled that the subjects of our first NFTs will be centered around three of the most accomplished athletes to ever play football. Not only will these be one-of-a-kind collectables, but we will also offer special, interactive engagement opportunities to enhance the value of these NFTs for those who purchase them. We expect to have these NFTs available on one of the premier sales platforms very soon.”

— Michael Crawford, President and CEO of HOFV

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.