First Owned Player Item refers to a player card that has First Owner status in your club if the item was earned, for example, via Objectives, SBCs, or Packs. This means a First Owned Player was not bought from the Transfer Market from any other user, but it is earned as a reward or received from a pack, so you are the first owner of this player card.
How to Check if Your Player is First Owned
To check if your player cards in your club have first First Owner status, navigate to a Player Item’s Player Bio (Press R3 while the player is selected) and look for the “First Owner” label under "Bought For" status.
Why Do You Need to Know if Your Player is First Owned
To complete some Objectives or SBCs, you may be required to use or consume players that are first owned.