Seven-time champion Tom Brady is embarking on a new business venture and jumping on the NFT bandwagon.
The quarterback announced Tuesday night via Twitter post that he is going to be a part of launching a new NFT platform called Autograph. The company will bring together big names in sports, entertainment, pop culture and fashion that will collaborate to create “unique digital collectibles.” Autograph will reportedly feature NFT’s of the player himself as well as interactive offerings such as in-person experiences and physical product drops.
Co-Founder and CEO of Autograph Dillon Rosenblatt told CNN about the venture. “Autograph will bring together some of the world’s most iconic names and brands with best-in-class digital artists to ideate, create and launch NFTTs and ground-breaking experiences to a community of fans and collectors,” he said.”
NFTs or non-fungible tokens, are digital files built on a blockchain which allows them and their authenticity to be verified. Blockchain is the “digital ledger underpinning cryptocurrencies such as Bitcoin and Ethereum. While those cryptocurrencies are fungible, meaning you can trade one Bitcoin for another identical one, each NFT is unique,” writes CNN business. The blockchain allows both the buyer and the seller to verify ownership and authenticity.
NFTs have been surging in popularity lately and gathered lots of A-list attention from celebrities and other notables. Jack Dorsey, founder of Twitter recently sold his first tweet as an NFT for $2.9 million and The band Kings of Leon also released their latest album as one.
Richard Rosenblatt and Brady will serve as co-chairs of the company which has “also assembled a high-profile advisory team” which includes Apple SVC Eddy Cue, Lionsgate CEO Jon Feltheimer, Live Nation Entertainment CEO Michael Rapino, Draftkings co-founders Jason Robins and Paul Liberman, and more impressive names in business.
“I believe this is a smart and strategic venture in an industry that has seen an explosion of interest in the last year,” Robins told Decrypt via email. “I’m looking forward to providing support to Tom and Rich as they launch Autograph.”