A number of high-profile athletes, including NBA star Stephen Curry, are amassing non-fungible token (NFT) art collections as a sign of wealth and status.
According to a report, several NFL and NBA stars have been investing in NFT art pieces. According to the report, Steph Curry is the latest celebrity to join the NFT craze, having purchased a collection from the Ethereum-based Bored Ape Yacht Club (BAYC).
Since its inception in April, the club, which prides itself on being an exclusive membership group, has generated $397 million in trading volume. On the NFT market, the collections are now worth a small fortune. The image below, for example, is of “BORED APE #7.” The current highest bid on NFT marketplace OpenSea for this NFT is 25.64 ETH (or more than $100,000 at current $ETH prices).
According to the report, membership in the club entitles you to several exclusive benefits, including free NFTs from the collections Bored Ape Kennel Club and Mutant Ape Yacht Club.
Other famous athletes have invested in similar NFT collections, such as the well-known CryptoPunks, World of Women, and Koala Intelligence Agency. The celebrities are utilizing the secure and innovative stamping of NFTs to retain ownership of the digital item.
NBA player Josh Hart, according to the report, has emerged as one of the most active star athletes in the NFT marketplace. Hart took to Twitter in August to gauge interest in fractionalizing the NFT collection, allowing multiple investors to own a piece.