ESPN has dropped its first non-fungible token (NFT) collection, which features NFL legend and cryptocurrency enthusiast Tom Brady.
The NFT takes the form of a digital magazine based on the seven-time Super Bowl champion’s “Man in the Arena” series on ESPN+. The entertainment sports network, currently owned by the Walt Disney Company, collaborated with Brady’s Web3 brand Autograph for the collection.
According to the NFT’s official page, “the Tom Brady: Greatest of All Time is an official Autograph NFT offered as part of The Man in the Arena Collection.” After debuting on the DraftKings Marketplace yesterday, the collection of 250 limited edition NFTs available for $100 each quickly sold out.
Crypto-crazy Brady
The 44-year-old quarterback has been a mainstay in the NFL for over 20 years, winning six Super Bowls with the New England Patriots, before winning another with the Tampa Bay Buccaneers.
Recently, the sports icon has taken a noted interest in cryptocurrencies, providing his extended fanbase exposure to the burgeoning industry.
Last summer, Brady and his wife, Brazilian supermodel Gisele Bündchen, announced a partnership with cryptocurrency exchange FTX, after Brady appeared with CEO Sam Bankman-Friend at a crypto conference. Brady later stated his desire to receive some of his compensation in crypto.
As one of the co-founders of Autograph, Brady launched his first NFT collection through the platform, via partner DraftKings, last Aug. In Dec, he dropped another collection highlighting his early career in the NFL.
NFTs cooling off
While prominent public figures such as Brady may continue selling out their NFT collections, according to recent data, the NFT market overall appears to be cooling off from the hot streak it experienced over the course of the past year.
Crypto analytics firm Nansen reported that one-third of NFT collections have been considered “dead,” meaning they have dropped below their launch value, as they are now trading below their mint price.
Daily NFT sales dropped in March to less than 100,000 from over 376,000 in Feb, according to data from NonFungible. Additionally, sales volumes on the world’s largest NFT marketplace OpenSea dropped by half to $2.5 billion in March from a high in Jan this year.
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