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Mixed fortunes of celebrities who jumped on NFT craze

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SOLO MISSIONS

Famous NFT enthusiasts have gone much deeper into the industry than just buying monkey images – many have created their own NFT collections, with varying results.

American musician Grimes got there early, raising nearly $6 million for fantasy-inspired art last year.

However, many of these NFTs are now virtually worthless and are being sold for a fraction of their original price – if they sell at all.

Other collections never even got off the ground. Wrestler John Cena sold just a handful of NFTs from a collection he assembled with the WWE last year.

He admitted it was a “catastrophic failure”.

Skateboarder Tony Hawk has been more successful selling, but this has come at the cost of admiration from some of his fans.

He announced on Twitter last year that he would be selling versions of his famous tricks as NFTs, prompting responses ranging from “Stop this Tony” to “Tony, no, neither are you”.

Hawk has not mentioned the project on Twitter since, although he has continued to trade NFTs.

JUST BUSINESS

One of the pillars of the relationship between celebrities and NFT is the old-fashioned brand endorsement.

This week, French megastar footballer Kylian Mbappe became the latest star to sign up as an ‘ambassador’ and invest in French start-up Sorare.

The company runs a fantasy football game where players can purchase sports card style NFTs.

Serena Williams, along with footballers Gerard Pique and Rio Ferdinand, have already invested in the game.

And not to be outdone, the world’s most famous football player, Cristiano Ronaldo, announced a partnership with Binance, the world’s largest crypto company, last week.

The offering will apparently feature designs created in collaboration with Ronaldo, who said in a statement that he was looking forward to “providing unprecedented experiences and access through this NFT platform”.

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