Hall Of Fame Resorts Spikes On NFT Partnership With Dolphin Entertainment

One of the hottest investment themes from 2021 combines with a popular investment theme in 2020 with a former SPAC announcing NFT plans.

What Happened: After Tuesday's close, Benzinga learned that Hall of Fame Resort & Entertainment HOFV will partner with Dolphin Entertainment Company DLPN to offer non-fungible tokens.

The deal will allow fans of professional football and sports entertainment to buy and sell content created through the partnership. Hall of Fame Resorts said the partnership will help it generate revenue from its growing media division.

“We are thrilled to be partnering with Dolphin, an emerging thought leader in the NFT market, to accelerate our entry into the space,” said Hall of Fame Resort President and CEO Michael Crawford.

Related Link: Hall of Fame Resorts Stock Rallies 30% On NFL NFT Potential

What’s Next: The company expects the first NFT offering will be connected to the “Heisman 2 Hall platform,” a partnership with Elite Team Holdings. The Heisman 2 Hall is an exclusive group of 10 athletes that are inducted in the Pro Football Hall of Fame that are also Heisman Trophy winners.

“Our ability to get into this space at a time when NFTs are surging in popularity demonstrates our company’s ability to leverage direct access to unique intellectual property and to a robust pipeline of brand partnerships.”

HOFV, DLPN Price Action: Shares of Hall of Fame Resort are up 42% to $5.76 in after-hours trading. Shares closed down 24% to $4.03 in Tuesday’s trading session.

Dolphin's stock, which rose more than 236% in the regular session, was up another 20% to $21.85 in after-hours trading.

For more on Hall of Fame Resorts, check out Benzinga's recent interview with Michael Crawford: