May 31, 2022
(“ChallengerX” or the “Company”)
ChallengerX signs digital asset monetization agreement with North Louisiana Football Alliance
ChallengerX plc (AQSE: CXS) announces the signing of a digital asset monetization agreement (“DAMA” or “the Agreement”) with the North Louisiana Football Alliance (“the NLFA”).
The agreement has an initial term of 5 years and gives the NLFA access to CXSports’ growing ecosystem of digital asset monetization modules. Additionally, as part of the agreement, the company will onboard each of the NLFA’s eight centrally managed teams.
The agreement provides for the immediate launch of a league-wide money page for the NLFA, to be published and syndicated through the CXSports network. The company will then work with the NLFA to launch additional Money Pages for each of its current teams. All teams eligible to join the league during the five-year term of the agreement will also be eligible to create a Money Page.
As the company continues to develop and launch new modules on its CXSports platform, it will continue to work with the NLFA to expand the scope of its digital asset monetization initiatives. While the development of new digital assets may be part of this process, the bulk of this work will result in the NLFA leveraging its existing digital assets for monetization. These existing assets include websites and social media profiles run by teams and leagues.
As with several previous DAMAs, the company has also given the NLFA the opportunity to serve as a CXSports brand ambassador. The NLFA has accepted this offer and will now promote the CXSports platform to their suppliers, customers, sponsors and athletes.
Although the company does not hold the NLFA to any minimum performance requirements as a brand ambassador, it has offered the NLFA performance-based revenue share incentives. The company reasonably believes that this agreement will at least result in several of the league’s athletes being signed by providing them with sponsored money sites.
Longer term, both the company and the NLFA view the agreement as creating a mutually beneficial strategic relationship. For the company, its relationship with the NLFA promises a presence with its fanbase, athletes and third parties. For the NLFA, the company’s CXSports platform will open them to new audiences and sponsorship opportunities outside of their geographic reach.
NLFA President and Founder Holland Witherspoon said: “We are delighted to sign with ChallengerX and plan to make its CXSports platform an integral part of both our marketing and revenue-generating efforts. We have already started work on creating digital assets for monetization via the platform and look forward to the additional exposure it will bring to our project.”
ChallengerX CEO Luke Caneda said: “As an emerging league with a lot of untapped potential, the NLFA is an ideal partner. Our CXSports platform will do much to unlock this potential and monetize their loyal fan base and we can’t wait to begin our journey together.”
About the NLFA:
The NLFA is an emerging American football league founded in 2019 by Air Force veteran Holland Witherspoon. The goal is to provide an alternative platform for aspiring American football athletes who, for various reasons, are unable to participate in college football programs.
About ChallengerX plc:
Listed on the Aquis Stock Exchange in London, ChallengerX plc is a Software-as-a-Service “SaaS 2.0” monetization technology and digital marketing company serving sports clubs, players, sports news sites and other influencers around the world. Its technology helps its clients generate incremental recurring revenue from their existing followers via a proprietary Leverage Other People’s Influence (LOPI) strategy at no cost.
ChallengerX also offers bespoke service packages to help clubs develop and build their brand, rapidly grow their fan base, attract additional high-end sponsors, and source and sell club merchandise through a club-branded eStore that the company hosts in the name of each club operates.
This notice contains information that, prior to its disclosure, constituted inside information within the meaning of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
The directors of ChallengerX plc accept responsibility for this announcement.
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