Tom Brady Launches NFT Company...But What Are NFTs?

BOSTON (WBZ NewsRadio) — NFTs or Non Fungible Tokens are taking art to a whole new level; they are digital collectibles that are highly valuable.

Seven-time Super Bowl champion, Tom Brady, announced his NFT company called Autograph intends to bring "together the most iconic brands and biggest names in sports, entertainment, fashion, and pop-culture to create unique digital collectibles."

NFTs are similar to crypto currencies, such as Bitcoin in that they cannot be copy and pasted.

However, there biggest differentiation is that every NFT is special.

"You can make art on the block chain" Joshua Doner, one of the first 200 investors in NFTs and Marketing Manager of General Assembly, said to WBZ's Matt Shearer. "What's amazing about NFTs is that anyone in the world, whether you live in the U.S. or you live on the other side of this planet, you can participate."

Doner also told WBZ NewsRadio that these pieces are going to high prices, one was sold for $69.3 million last month.

However, Doner also noted that some of these projects will not be nearly as valuable in the future and that he is not offering financial advice.

WBZ NewsRadio's Matt Shearer (@MattWBZ):

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Written by Edyn Jensen

(Photo: Getty Images)

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