People have always thought of Tom Brady as a leader. As the quarterback with the most wins in NFL history. Brady also looks for new ways to do things when he’s not on the field. Now, he is entering the NFT market.
So, it shouldn’t be a shock that Brady is in high demand as a spokesperson. He has a lot of chances to join growing businesses and startup companies. One of them has to do with non-fungible tokens, which are also called NFTs. Brady is not only interested in the NFT space, but he has also set a weird record in that area.
First, let’s look at Brady’s legal NFT business, which is a company called Autograph that he co-founded. Fortune says that $170 million in funding from Silicon Valley has been given to the startup. The purpose of the company is to help other famous people start their own NFTs.
NFTs stand for non-fungible tokens. They are pieces of digital art that are stored in a computer. The word “non-fungible” means that each one is different. While you can trade one Bitcoin for another and they are both the same, each NFT is unique.
CEO Dillion Rosenblatt runs the LA company. He has worked at both Apple Music and Cameo in the past. Brady has a lot of power in the worlds of sports and entertainment, and he has been able to put together an impressive list of superstars who are willing to work with the firm. Tiger Woods, who is a great golfer, Derek Jeter, who is a baseball legend, and Naomi Osaka, who is a great tennis player, are all clients.
Fans want to make money off of celebrities because NFTs are becoming more and more popular. But Brady has worked with NFTs in more than just this one engagement. He’s also been talked about in a very bad way on that market.
At the point where art and technology meet, NFTs are a unique new frontier. Some people put too much value on them, while others put too little. Because of this, there are lots of chances for scammers to get away with things. Some celebrities, like Brady, get caught in the middle of the fight.
The Hustle says that there are 31,400 “fake” scam NFTs that are linked to Brady. That is a lot more than any other famous person. This is due in large part to the fact that Brady is the NFL’s most famous player.
How it works is as follows: Someone makes a fake social media account that looks and acts like that of a famous person (in this case, Brady). Then, the account tries to get the fans to go to a website. That site could have a phishing link that leads to malware or tell them to buy a fake NFT.
It’s the worst kind of manipulating people. And it makes it dangerous for any athlete or famous person to go into the space.
Athletes selling NFTs has caused a lot of trouble.
A lot of famous people are trying to cash in on the NFT craze right now. How could they not? It’s a very confusing area, and many new investors see it as a sure-fire way to get rich quickly.
The main problem is with cons like the ones Brady pulled. Scammers who pretend to be celebrities will try to take advantage of fans by stealing their information or tricking them into buying an NFT that isn’t worth anything.
Yoav Keren, the CEO of the cybersecurity company BrandShield, says that these scams give fans hope while giving them something that isn’t exclusive. Keren said, “When you buy an NFT of a picture of Tom Brady, it means that you are the only legal owner of that picture.” “You are not the real owner if someone sells you a fake one.”
Most likely, fake NFTs backed by Brady won’t go anywhere, but sports fans who like cryptocurrencies should be careful. Usually, something is not as good as it seems.