NFL legend Tom Brady keeps making headlines for various reasons. And in November last year, he grabbed the spotlight for his huge loss in the Bored Ape NFT. And in that loss, he reportedly lost more than half of the investment he made in that NFT. Moreover, this year he again lost a big amount after the bankruptcy of the crypto exchange firm, FTX.
And the collapse of the exchange hit Brady hard, affecting his well-diversified investment portfolio. According to reports, Tom Brady’s net worth stands at an impressive $287 million. Adding to his financial woes was the high-stakes plunge of Brady into the world of NFTs. NFTs have indeed garnered widespread attention in recent years.
And that’s because of their digital uniqueness and collectible value. But Brady’s investment in Bored Ape NFT proved to be far from a wise venture. Back in April 2022, the star quarterback made headlines with his investment in the Bored Ape NFT. And reports suggested that Brady shelled out a substantial sum of $430,000 to acquire the NFT. But unfortunately, his aspirations were dashed, as the value of the NFT dramatically plummeted.
Tom Brady has joined the Bored Ape Yacht Club.
The 🐐 purchased Bored Ape #3667 for 133 $ETH — which is currently over $430K in USD. pic.twitter.com/UcwbBo1mEb
— Boardroom (@boardroom) April 6, 2022
According to Sportsrush, The Bored Ape NFTs’ value came down to a mere $168,250 by November of the same year. And that further resulted in a significant loss of 60% for Tom Brady. And keeping the huge investment he has made in mind, it was a massive blow for the Hall of Famer. So this loss, along with the FTX loss of $30 million has led to a big overall loss for the NFL star.
At present, athletes have dabbled in the world of digital assets with varying degrees of success. But the experience of Tom Brady should serve as a cautionary tale for others seeking to follow suit. And that’s because NFT made the star quarterback, who dominated the NFL, lose badly.
A look at Tom Brady and his involvement in NFTs
The first love of Tom Brady, who has a net worth of $287 million, has surely been football and the NFL. And that’s because it’s something for which the quarterback has shown great devotion. But if there’s something else he loves besides football, it must be cryptocurrency and NFTs.
Tom Brady has been involved in investing in cryptocurrencies for a long time now. And his love for digital assets and NFTs became evident when he launched “Autograph“. It is a start-up that Brady launched a couple of years back in August 2021.
Tom Brady launched Autograph in collaboration with Richard Rosenblatt and his son Dillon Rosenblatt. And it is a platform specially made for celebrity NFTs and signed digital assets. While Dillon Rosenblatt is the CEO of the firm, Brady is its co-chairman.
After launching Autograph in 2021, Brady faced a huge loss, along with Gisele Bundchen. But even after all these setbacks in the crypto world, the involvement of Tom Brady in NFT is still intact.