Legendary American Football player Tom Brady will be launching a non-fungible token (NFT) platform in the coming months. The Autograph platform aims to host digital collectibles in the sports, entertainment, fashion, and pop culture industry reported CNN.
The last couple of months have seen massive hype and activity in the NFT market. Following the $69 million auction of a digital art piece at Christie’s, Twitter’s CEO Jack Dorsey sold the first-ever tweet as an NFT for almost $3 million. TIME magazine auctioned three digital covers, and even Brady’s teammate Rob Gronkowski joined the hype and auctioned an NFT card collection for $1.6 million.
While there’s real substance and logic underpinning NFTs, some are writing it off as a fad with the recent hype and momentum. On the one hand, it’s hard to call NFTs stable and reliable in part due to price volatility and a somewhat abstract sense of ownership. On the other hand, most participants in the recent big ticket NFT auctions were already involved with cryptocurrency and blockchain, but the attention that the auctions received went way beyond the tech industry. There is a tremendous opportunity to expand the audience for NFTs beyond stereotypical crypto-savvy individuals.
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