Tom Brady is getting in on the NFT craze in a big way with the launch of an NFT company called Autograph. Autograph, which will be founded this spring, will offer digital collectibles in a variety of categories, including sports, entertainment, and fashion.

Tom Brady and Autograph CEO Dillon Rosenblatt will co-chair this new NFT company. The advisory team also includes Apple SVP Eddie Cue, Lionsgate CEO John Feltheimer, co-founder of DraftKings, and other big names, according to CNN.

In case you don't already know about NFTs, they stand for non-fungible tokens; NFTs are crypto assets and are essentially a piece of digital content. They are linked to the blockchain, the same ledger system used for cryptocurrencies like bitcoin. However, whereas bitcoin is tradable and essentially identical, NFTs are unique and can be verified as such through identification codes and metadata. [Dillon Rosenblatt, co-founder and CEO of Autograph, said, "Autograph connects the world's most iconic companies and brands with best-in-class digital artists to conceive, create, and present NFTs and groundbreaking experiences to the fan and collector community. and announcements."

Autograph states that it will offer live auctions, physical product drops, and in-person experiences.

According to data just released by TradingPlatforms.com, NFTs have seen a compound annual growth rate of 187% from 2018 to 2020, with total revenue from NFT transactions in 2020 at $55 million.

NFTs have really heated up this year, with a digital artwork NFT selling for $69 million at Christies Auction House on March 16. Also, the first ever tweet by Jack Dorsey was auctioned for $3 million.

There are also signs that the value of NFTs is dropping a bit: NonFungible.com and CNN reported that NFT prices have dropped 70% since February; the average price on April 5 was $1,256, compared to $4,000 in late February.

Nevertheless, the NFT trend is likely to continue. [17] [18] And even children as young as 12 have become millionaires using NFTs.