- Tom Brady’s video NFT sold for a staggering $40,712, highlighting the allure of celebrity-backed NFTs.
- The NFL All Day collection has sold $10 million worth of NFTs since September 2023, leveraging the popularity of football legends like Brady and Montana.
- Despite the absence of crypto-related ads during Super Bowl LVIII, celebrities like Brady continue to generate social media buzz and attract attention to the crypto industry.
The recent sale of a video non-fungible token (NFT) featuring former football quarterback Tom Brady has made headlines in the crypto world. Dapper Labs, the company behind the sale, confirmed that the NFT of Brady achieved a staggering price of $40,712. This transaction is part of the larger $10 million worth of NFTs sold from the National Football League’s (NFL) All Day collection since September 2023. The success of these NFT sales demonstrates the immense potential that Tom Brady and other celebrities have in attracting new users to the world of crypto, especially during significant events like Super Bowl LVIII.
Tom Brady NFT and Its Impact
The Tom Brady NFT, which showcased five of his most memorable touchdowns for the Tampa Bay Buccaneers in 2021, captivated collectors and fans alike. The NFT’s unique digital representation of these iconic moments resonated with enthusiasts, driving the price to reach an impressive $40,712. It’s not just Brady who garnered attention; an NFT featuring Joe Montana, who had played for both teams competing in Super Bowl LVIII, fetched $34,000.
These high-profile NFT sales from the NFL All Day collection have significantly boosted the volume of transactions within the platform. While they have yet to reach the same level of popularity as NBA TopShots’ highlight reel NFTs, the NFL All Day collection has amassed an impressive $10 million in sales since its launch at the start of the NFL season in September.
Celebrities as Promoters
Dapper Labs strategically collaborated with Joe Montana and former Dallas Cowboys quarterback John Elway to promote the NFL All Day collection. Leveraging the influence and star power of these football legends, Dapper Labs aimed to attract a broader audience to the world of NFTs. While the collection may not have achieved the same level of success as NBA TopShots, the involvement of renowned celebrities certainly played a crucial role in generating interest and driving sales.
Crypto Marketing at Super Bowl LVIII
Surprisingly, this year’s Super Bowl lacked the presence of crypto-related advertisements. Companies that were once heavy spenders during previous Super Bowls, such as Coinbase, FTX, and Crypto.com, were conspicuously absent. The fallout from the crypto market in 2022, coupled with financial considerations, may have influenced their decision to forego the multi-million dollar advertising opportunities during the event.
Coinbase, for instance, reported revenue of $7 billion in Q4 2021 before investing $14 million in a Super Bowl LVI advertisement. However, in Q3 2023, the company’s revenues plummeted to just $674 million, potentially leading to a more cautious approach in spending $7 million for a 30-second ad during Super Bowl LVIII.
FTX, another prominent crypto exchange, also opted out of Super Bowl LVIII advertising. The exchange’s former CEO, Sam Bankman-Fried, is currently facing legal challenges, and the possibility of the exchange being liquidated looms. These circumstances likely contributed to their absence from this year’s Super Bowl marketing lineup.
The Role of Celebrities in Crypto Marketing
Although crypto companies opted out of Super Bowl LVIII, the presence of celebrities remains an effective way to generate buzz and social media interactions. Appearances by famous personalities like Tom Brady, Ben Affleck, Jennifer Aniston, and Jennifer Lopez during the event generated a staggering 1.3 million social media interactions for the advertisers. The allure of celebrities helps offset advertising costs by creating viral content and social media buzz.
Furthermore, celebrities like Tom Brady can play a significant role in introducing new customers to the world of crypto. Their association with the crypto industry not only brings novelty and excitement but also increases on-chain activity. Despite ongoing lawsuits against Tom Brady and NBA star Steph Curry regarding their links with FTX, the due diligence required in such cases can potentially lead to increased investor protection.
Conclusion
The recent sale of Tom Brady’s video NFT and the success of the NFL All Day collection highlight the growing significance of celebrities in the world of crypto. By leveraging the influence and appeal of renowned figures like Brady and Montana, Dapper Labs has successfully attracted new users to the NFT market. Although crypto marketing was absent during Super Bowl LVIII, celebrities proved their ability to create social media buzz and draw attention to the industry. As the crypto landscape continues to evolve, the involvement of celebrities will likely play an increasingly vital role in capturing new customers and driving the adoption of cryptocurrencies.
