Topline
Six-time Super Bowl champion Tom Brady is the latest sports star to try to cash in on nonfungible tokens, announcing Tuesday the launch of Autograph, an NFT platform he’s cofounded that will offer digital collectibles.
In this still image from video provided by the NFL, Tampa Bay Buccaneers quarterback Tom Brady … [+]
Key Facts
Brady will act as co-chairman alongside Richard Rosenblatt, the former owner of Myspace, according to Autograph’s website, and the CEO of the company is Rosenblatt’s 23-year-old son Dillon.
The board of directors includes industry heavyweights like Lionsgate CEO Jon Feltheimer, Cameo CEO Steven Galanis, Live Nation CEO Michael Rapino DraftKings CEO Jason Robins and Mandalay Entertainment CEO Peter Guber, who owns the Golden State Warriors and Los Angeles Dodgers sports teams.
Autograph also will offer live auctions, physical product drops and in-person experiences according to CNN.
Key Background
NFTs are works of digital content stored on the blockchain. The first was created in 2014, but NFTs have surged in popularity this year, with a piece by digital graphic artist Beeple selling for more than $69 million last month, placing him among the most expensive artists alive. The hype has attracted stars like billionaire Mark Cuban, Twitter CEO Jack Dorsey, NFL pro Rob Gronkowski, singer Shawn Mendez and DJ Steve Aoki to sell NFTs of their own. However, the NFT craze may have already begun to waver — The average NFT cost $1,400 Tuesday, a nearly 40% decrease since NFTs prices hit record highs in February, according to data from Nonfungible.com.
Further Reading
Tom Brady is launching an NFT company (CNN)
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