Will the LA Rams find a new source of revenue to help out their cap space situation? Or will it pour directly into the pockets of their players? After recently reading about Tampa Bay Buccaneers tight end Rob Gronkowski announcing he was selling his Super Bowl highlights as an NFT, I was left wondering a few things. First of all, just exactly what is an NFT? And then, who might be the first LA Ram be to get into this new hot digital trend and come out with their own NFT?
NFTs are Non-Fungible Tokens, and they are the hottest collectible since Topps baseball cards. (Now there’s a word you don’t hear every day.) It’s just a high-falutin’ techno-word for something which cannot be exchanged. For example, you can exchange a $10 bill for ten ones – it’s fungible. NFT’s are, by definition, non-fungible, because you can’t exchange them for other cryptocurrencies or goods like money allows you to do.
It is the latest version of cryptocurrency to sweep the market, and it has become instant wealth for some. How rich? Well, the auction house for millionaires, Christie’s auction house, sold their first-ever NFT, it was a piece of Digital artwork designed (created? Inspired?) by digital artist Beeple, for a whopping $69.3 million. Now NFTs have suddenly captured the world’s attention. Even those of NFL players.
And considering that the Rams play in glitzy Hollywood’s backyard, you’d think they’d be among the first of NFL teams to embrace this new trend.
All of this is happening with the Tampa Bay Buccaneers aging tight end Rob Gronkowski. Imagine similar buzz about the LA Rams if they win the Super Bowl? What kind of market would the Rams players’ past, present, and future command in such a new version of digital imagery?