Tom Brady’s Video NFT Sells for $40,000: Impact on Crypto

Please fol­low and like us:
Pin Share

Dap­per Labs recent­ly announced the $40,000 sale of a video non-fun­gi­ble token (NFT) of for­mer foot­ball quar­ter­back Tom Brady. This sale was part of $10 mil­lion worth of NFTs sold from the Nation­al Foot­ball League’s (NFL) All Day col­lec­tion since Sep­tem­ber 2023, con­firm­ing the poten­tial Tom Brady and oth­er celebri­ties have to cap­ture new cryp­to users dur­ing big events.

Dap­per Labs con­firmed that a video NFT of Tom Brady sold for $40,712 23 days before Sunday’s Super Bowl LVIII. An NFT of Joe Mon­tana, who pre­vi­ous­ly played for both teams that com­pet­ed in Sunday’s clash, raked in $34,000.

Tom Brady NFT Boosts NFL All Day Volumes

Brady’s NFT depict­ed five touch­downs he achieved for the Tam­pa Bay Buc­ca­neers in 2021. Montana’s NFT depicts an icon­ic pass to San Fran­cis­co 49ers receiv­er Dwight Clark against the Dal­las Cow­boys. Anoth­er clip fea­tur­ing for­mer New York Jets play­er Aaron Rodgers sold for $34,000.

Read more: 11 Most Expen­sive NFTs Ever Sold

tom brady nfl all day nft sales
NFT All Day Sea­son Sales Vol­umes | Source: Cryp­to Slam

Dap­per Labs com­mis­sioned Mon­tana and for­mer Dal­las Cow­boys quar­ter­back John Elway to pro­mote the col­lec­tion. While they haven’t quite reached the heights of NBA Top­Shots high­light reel NFTs, the NFL All Day col­lec­tion has accu­mu­lat­ed $10 mil­lion since they launched at the start of the NFL sea­son in September.

Crypto Ads Absent at Super Bowl LVIII

This year’s Super Bowl lacked cryp­to mar­ket­ing, with for­mer heavy spenders like Coin­base, FTX, and Crypto.com con­spic­u­ous­ly absent. Cryp­to com­pa­nies that sur­vived the 2022 fall­out appear unwill­ing to fork out the millions.

superbowl ad price crypto ftx
Super Bowl Ad Price | Source: Wall Street Journal

Before shelling out $14 mil­lion for the famous bounc­ing logo ad dur­ing Super Bowl LVI, Coin­base report­ed rev­enue of $7 bil­lion in Q4 2021. In Q3 2023, the com­pa­ny report­ed rev­enues of just $674 mil­lion, which may have caused it to forego the $7 mil­lion price tag for a 30-sec­ond Super Bowl LVIII spot.

FTX, which also spent heav­i­ly on a high pro­duc­tion-val­ue Super Bowl ad for the 2022 event, spent $5.5 mil­lion. Its for­mer CEO, Sam Bankman-Fried, is fac­ing jail time for fraud, while the exchange could be liq­ui­dat­ed this year.

Read more: Build­ing a Strong Cryp­tocur­ren­cy Brand Iden­ti­ty: A Com­plete Guide

Celebri­ties still appear to be draw­cards, though. Appear­ances by Brady, Ben Affleck, Jen­nifer Anis­ton, and Jen­nifer Lopez stirred 1.3 mil­lion social media inter­ac­tions for the adver­tis­ers. Celebri­ties can help aid a company’s cryp­to mar­ket­ing plan by off­set­ting the cost of adver­tis­ing by cre­at­ing social media buzz.

But now, even as crypto’s promi­nence at major events like the World Eco­nom­ic Forum wanes, celebri­ties could play a vital role in intro­duc­ing new cus­tomers to cryp­to. Celebri­ties like Brady can attract new cus­tomers with nov­el­ty and boost on-chain activ­i­ty. Cryp­to law­suits against Tom Brady and NBA star Steph Cur­ry for links with FTX could neces­si­tate the due dili­gence that may pro­tect investors.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published.