Non-fungible tokens (NFT) are digital assets that contain identifying information recorded in smart contracts. NFT's are also not divisible in the same way that they cannot send someone part of a ticket to an NFL game. For example, if someone turns up at the gates of a Cleveland Browns game with half a ticket, they are not getting in.
Non-fungible tokens have an interesting attribute since all NFT's are linked to a specific asset. They are mostly used to prove the ownership of digital items like game skins and physical assets. NFT's are not traded, instead they are bought or sold on digital marketplaces.
What NFT platform is Tom Brady ready to launch with Apple, DraftKings and Spotify?
According to CNN, Tom Brady is getting ready to launch an NFT platform called Autograph this spring. Autograph will bring together some of the biggest names in sports, entertainment, fashion and pop culture to work with creators to develop creative digital collectibles. Tom Brady has reportedly put together an all-star cast to help him with Autograph.
Richard Rosenblatt and Tom Brady will be the co-chairs for Autograph and will offer live auctions, physical product drops and in-person experiences.
They've assembled a team that consists of Apple SVP Eddy Cue, Lionsgate CEO Jon Feltheimer, Live Nation Entertainment CEO Michael Rapino, DraftKings cofounders Jason Robins and Paul Liberman, and Spotify's chief content and advertising business officer Dawn Ostroff.
Tom Brady isn't the first NFL player to invest in NFT. Rob Gronkowski, who is a close friend of Brady's, has turned his image into NFTs as digital trading cards. Kansas City Chiefs quarterback Patrick Mahomes has invested in NFT as well and recently sold a digital item called "Mahomes Magic" for $3.4 million.
Peyton and Eli Manning are also familiar with selling NFTs. The Manning brothers are dropping their digital art collection called "The Manning Legacy" on April 16th. Peyton and Eli's NFT will come with physical artwork and signed memorabilia.
Former NFL tight end Vernon Davis has also taken his talents to NFTs. He has created a collection of digital collectibles from his NFL career. One of the NFTs is called Golden Ticket NFT Jump Man, which is rather rare. There has only been one created and the winner will receive a meet and greet with Vernon Davis.
With Tom Brady being the most recent NFL star to invest in NFT's, it will be interesting to see how it turns out for him. He's the greatest NFL quarterback of all time and a tremendous businessman. If Brady is successful he could encourage a bunch of athletes to jump on the train in the future.
Also Read: What is Rob Gronkowski’s Net Worth?