Tom Brady is one of those sports stars whose attention has been towards digital assets. Tom Brady’s interest has been quite visible in the market for the longest time now. Brady happens to one of the crypto buffs, who dived into the ocean of Web3 technology. To support his passion for Web3, he also went on to launch an NFT company by the name “Autograph.” As the name suggests, the company’s main operation was to sell digital collectibles such as digital autographs from celebrities and sports icons. Brady has been investing his time, soul and heart into various crypto projects and NFT projects and surely seems to be open for more explorational opportunities in the space.
The football star also went on to purchase the popular NFT Bored Ape, from the Bored Ape Yacht Club, in April. He used around 133 Ethereum tokens, to buy the NFT. At the time of purchase the Ethereum tokens were valued at around $430k.
Tom Brady’s investment in Bored Ape NFT, a loss!
Credits: Twitter
As the market plummeted in May, the crypto market saw a price drop of the most capitalized cryptocurrencies Bitcoin and Ethereum and this made sure that all the other cryptocurrencies also suffered the blunt of it. The trust among the investors towards the crypto ecosystem took a big hit. Among the investor’s loss, Tom Brady’s Bored Ape NFT also plummeted as the price of the Ethereum fell. The NFT was worth only 77 Ethereum tokens today, which meant it had lost around 68% of its value.
Tom Brady’s current situation!
Though the NFT lost around 68% of the value, the football star was not in a spot of bother at least financially. He had signed a post retirement deal, which was for 10 years valued at $375 million, with Fox in May. This made sure that the player was safe at least financially.
Writer’s Analysis:
The market crash that happened in May, saw billions of dollars wipe out of the market. For the first time in the past two years, the crypto currency market’s total valuation was brought down under 1 trillion dollars. Since, then the market has remained in disdain.
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