The world of sports collectibles had a big surprise on Monday when a 1909 Honus Wagner baseball card sold for a record $6.6 million.
The card was originally included in cigarette packs, and only a few exist today.
But the latest news about sports NFTs, or nonfungible tokens, may be even more exciting.
That’s because NFTs had $2.5 billion in sales in the first half of 2021 alone.
These unique digital images and videos are authenticated on the blockchain.
And because there can be as few as one original digital asset in existence, NFTs are potentially more valuable than any physical sports card.
That’s why a group of collectors teamed up in February to buy a video clip of a LeBron James dunk for $208,000.
If all goes according to plan, the NFT could be worth millions in the future.
It may even be more valuable than the mint-condition LeBron James rookie card that sold for $5.2 million in April.
And that’s why sports icons such as Tom Brady are jumping on the NFT bandwagon…
These NFTs Sold Out in Minutes
Seven-time Super Bowl champion Tom Brady is one of the most accomplished athletes in history.
His physical trading cards have sold for as much as $2.25 million. Now, NFTs are the perfect way for him to capitalize on his brand.
Earlier this year, Brady launched Autograph, an NFT company designed for himself and other star athletes.
His first NFTs debuted on August 11, ranging between $12 and $1,500 depending on rarity.
Thousands of collectors eagerly waited in a virtual line to buy the NFTs, and the entire collection sold out in minutes after it went live at 3 p.m.
One lucky collector snagged five Tom Brady NFTs for a total of $3,250. He then sold four of them for a combined $76,332!
More Sports Legends Are Selling NFTs
Hockey legend Wayne Gretzky signed up with Autograph earlier this year. His first NFTs were listed on DraftKings Marketplace on Tuesday.
Like Brady’s collection, the most common NFTs were only $12, while the rarer ones cost more.
Once again, collectors bought every NFT within minutes.
Gretzky’s digitally signed NFTs will go on sale on Friday. The highlight of the collection is the Ruby version, which costs $1,500.
Wrestler John Cena is also launching NFTs on Friday, but with a twist.
Each collector who buys one of the 500 gold-tier NFTs will receive a box of limited-edition John Cena merchandise in the mail.
There’s also a “one of a kind” platinum-tier NFT that includes a personalized championship title belt and a unique John Cena chain.
In addition, the buyer will receive two VIP tickets to an upcoming WrestleMania event.
NFTs Aren’t Just a Fad
Collectors’ and fans’ huge enthusiasm for their favorite players shows that the demand for NFTs isn’t going away.
NBA Top Shots, which sells officially licensed basketball highlights as NFTs, made over $700 million in revenue as of May.
Major League Baseball and the NFL are starting to get into NFTs as well, and college athletes are already selling NFTs thanks to a recent rules change.
So, it’s an exciting time for sports NFTs. And crypto expert Ian King is keeping a close eye on the NFT boom and other huge trends in the crypto space.
You can follow Ian’s latest research by watching his special presentation.
Regards,
Assistant Managing Editor, Banyan Hill Publishing
