Cristiano Ronaldo, Kylian Mbappe, Snoop Dogg … Sports and entertainment stars are increasingly interested in NFT, between dedicated projects, partnerships and investments in specialized companies, a way to make these unique digital objects known to its many fans.
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“NFT”, for “non-replaceable token” or non-fungible token, is a digital format that makes it possible to associate it with any virtual object, whether it is a photo, image, animation, video or piece of music, a Certificate of Authenticity recorded on a chain of blocks (or “blockchain”), the technology that serves as the basis for cryptocurrencies such as Bitcoin.
Two major announcements are in quick succession, a sign of an acceleration of a trend that began last year: Less than a week after the formalization of the “exclusive” and “multi-year” partnership between crypto exchange Binance and soccer star Cristiano Ronaldo to create a chain of NFTs, it is time to… It’s Kylian Mbappé’s turn to reveal his interest in the world of ‘web3’, the new internet.
The attacking star of Team France will join forces as an “exclusive investor and ambassador” with French startup Sorare, creator of an online game to exchange posters of athletes at the crossroads of highly dynamic sectors: Unique Digital Objects (NFT) and virtual sports leagues (“fantasy sports”).
After tennis champion Serena Williams, who has become a “adviser” to the board and a partner of Sorare since last January, and football investors Gerard Pique, Rio Ferdinand and Antoine Griezmann, France’s unicorn is introducing itself to a favorite new recruit.
Said Cristiano Ronaldo, one of the most followed personalities in the world with more than 500 million “followers” on social networks.
Authenticity or distinction?
If Omar Sy and French basketball player Rudi Gobert support “The Metaverse Marauders,” a group of 12,000 NFTs representing a whole host of extraterrestrial creatures and other sports and entertainment stars, such as Neymar, Eminem or Paris Hilton, have publicized their affiliation with the “Bored Ape.” Yacht Club”, a closed circle of NFT holders associated with unique pictures of monkeys and sold for over $200,000 each.
Singer Justin Bieber, for example, paid him $1.3 million in January.
“It’s really like the real world (for collectors): we have people in NFT who know a lot about it, care about it and spend time there, and then others are surfing a little bit on the waves and buying a little bit of what they are,” NFT factory president and industry expert John Karp told AFP. Interest in “Bored Ape Yacht Club” with “neo bling. -bling”.
Contrasting approach to Snoop Dogg’s approach. The American rapper revealed last September that he was hiding behind an anonymous profile of “Cozomo de’ Medici”, a famous collector in the NFT community for the purchase of several well-known digital artworks, other than the “Bored Ape Yacht Club”.
“We understood that there was a fairly original approach, real knowledge. His opinions are important, his point of view is important. He is known as a wise person,” emphasizes John Karp.
Conversely, there is the case of “influencers” who launch their group of NFTs to “make monetize” their audiences with a “short-term financial goal,” he explains.
But numerous examples have shown that these assets quickly lose value in the secondary market or do not attract the expected income. After earning $1 million thanks to the almost instant purchase of NFT by his fans, singer Shawn Mendes saw his value quadruple in one year.
After generating $44.2 billion in 2021, the NFT market saw a 75% drop in spending between February and mid-April, according to research firm Chainalysis.