Artists and celebrities all over the world are getting hooked to NFTs and liked the whole concept of digital non-fungible assets and the kind of utility and wealth it provides. The recent announcement is coming from boxer Floyd Mayweather who is releasing his legacy collection in form of non-fungible tokens (NFT) on the 26th of this month.
Mayweather has partnered with three NFT firms — IronBend, Reality Gaming Group, and Zytara Labs — for the initiative. The NFTs will drop on May 26, ahead of Mayweather’s fight with YouTuber-turned-boxer Logan Paul on June 6.
Earlier this week VaynerMedia founder Gary Vaynerchuk also launched his own NFT project called VeeFriends.
NFTs are non-fungible tokens that mean it’s unique and can’t be replaced with something else. For example, a bitcoin is a fungible token — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different. That’s NFT.
NFTs can really be anything digital such as art, drawings, music, tweet, picture of your cat but a lot of the current excitement is around using the tech to sell digital art. In fact, Twitter CEO Jack Dorsey’s First Tweet Sold for $2.9 Million as an NFT. So yay, it’s a big thing now.
Jack is not the only one but Paris Hilton, Lindsay Lohan, and several celebrities and personalities have issued or planning to issue NFTs to their fans.
Mayweather’s NFTs will feature a limited-edition digital collection involving his life and career, including animations, artwork, and memorabilia from his personal keepsakes. “There will be a digital collection of 5 NFT pieces, including a rare 1 of 1,” Al Burgio, founder and CEO of Zytara Labs mentioned.
“Right now, my career is over, but my name will always live on for the things that I did and for the legacy that I left and the mark that I left in sports,”– Mayweather
Mayweather fans worldwide will have a chance at securing rare collectibles starting May 26, ahead of the Mayweather vs. Paul fight scheduled for June 6. Stay tuned for the upcoming Mayweather NFT drop on Floyd NFT closer to the date.