Connect with us
Active Currencies 11239
Market Cap $1,555,913,020,657.80
Bitcoin Share 49.61%
24h Market Cap Change $1.94

Credit Suisse announces NFT collection with Swiss women’s football team

2min Read

Swiss investment bank Credit Suisse is collaborating with the Swiss Football Association to release a NFT collection amidst a market slump.

Switzerland announces NFT collection with women's football team

Share this article

  • The launch of the Azuki Elementals NFT collection last week has led to floor prices of multiple leading NFT collections slumping.
  • A substantial number of liquidations have also taken place recently.

In the latest instance of NFTs drifting into the world of sports, Swiss investment bank Credit Suisse is collaborating with the Swiss Football Association to release a non-fungible token (NFT) collection supporting women’s football.

The Swiss Women’s National Team, as well as other organizations working to empower female football players, will receive 100% of the proceeds from the sale of this collection. The 756 NFTs, minted on Ethereum [ETH], will be available for purchase on Credit Suisse’s digital banking app, beginning 11 July.

Sandra Caviezel, Credit Suisse’s head of partnerships and sponsorship, said that she is excited to use NFTs as a financial support to assist drive the growth of women’s sports in Switzerland.

New Azuki collection sparks NFT market slump

Meanwhile, the market witnessed a disastrous fall last week as we saw a substantial selloff.

On 27 June, Azuki launched the Azuki Elementals NFT collection. The entire collection got sold via private transactions in just 15 minutes. Hence, the sale never went public.

The Azuki team made $38 million thanks to this launch.

However, this sparked significant criticism, with complaints ranging from the short presale window to mint failures due to an overloaded website. The community also rued the lack of originality.

Holders were also concerned that releasing 20,000 new NFTs would dilute the value of pre-existing NFTs in the collection. This episode led to a significant slump in the market.

Parsec Finance revealed on 30 June that there had been 500 liquidations on Blend in the previous 10 days, with Azuki being severely hit.

The floor price of the Azuki collection has dropped by nearly 60% within a fortnight. Similarly, the floor prices of other well-known NFT collections also fell.

Notably, Mutant Ape Yacht Club [MAYC], Bored Ape Yacht Club [BAYC], and Pudgy Penguins dipped 30%, 25%, and 12% within a fortnight.


Saman is a News Editor at AMBCrypto. Her background in History and English expanded on her knack for editing and presenting all sides of a story without bias. With a strong will to learn, Saman is always up for exploring unknown territory, and crypto, with its ever-changing landscape, offers just that.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.