Tom Brady set a bizarre record on the NFT black market

Tom Brady set a bizarre record on the NFT black market

Tom Brady he has always been seen as an innovator. As it is the best quarterback in NFL history, he finds ways to rethink. The 44-year-old continues to advance throughout his career, researching lifestyles and dietary choices to gain an advantage. And off the field, Brady is also looking for ways to innovate. Now he is stepping into the NFT sector.

So it should come as no surprise that Brady is a hot commodity as a spokesman. He got many opportunities to join developing companies and startups. One of them includes irreplaceable tokens, also known as NFT. Not only is Brady getting involved in the space, but he has also set a bizarre record in this regard.

Meet Tom Brady’s NFT Company, Autograph

Buccaneers quarterback Tom Brady at the 2022 minicamp Cliff Welch / Icon Sportswire via Getty Images

First, let’s look at Brady’s legitimate company related to NFT, a company he co-founded called Autograph. According to Fortune, the startup received $ 170 million in funding from Silicon Valley. The company’s goal is to help other celebrities launching its own NFTs.

NFT stands for irreplaceable tokens. These are digital assets that are the most common works of digital art. The “irreplaceable” part of the term means that each of them is unique. While you can exchange one Bitcoin for another, and these two are interchangeable, each NFT is unique.

After previously working at Apple Music and Cameo, CEO Dillion Rosenblatt runs the company in LA. Brady has a significant influence in the world of sports and entertainment, and he managed to gather an impressive list of superstars ready to partner with the company. Client lists include great golfer Tiger Woods, former baseball icon Derek Jeter and tennis star Naomi Osaka.

As NFT’s popularity grows, fans want to make money on celebrities. But Brady’s experience with NFT isn’t limited to this engagement. He was also introduced to that market in a pretty nasty way.

Tom Brady is one of the most famous personalities on the NFT black market

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NFTs represent a unique new frontier at the crossroads of technology and art. Many are misunderstood, some overestimated, and others underestimated. Because of this unpredictability, there are many opportunities for fraudsters to go wild. Some celebrities, like Bradythey find themselves stuck in crossfire.

According to The Hustle31,400 “fake” NFT scams are reportedly linked Brady. It is the most famous of all, with a big difference. This is largely due to Brady’s popularity as the NFL’s most prominent superstar.

Here’s how it works: a person designs a fake social media account that looks and acts like a certain celebrity (in this case, Brady). The account then continues to persuade fans to visit the website. This site may contain a phishing link to malware or encourage them to buy fake NFT.

It is social engineering at its worst. And it makes the space dangerous for every athlete or a celebrity to enter.

Controversy behind athletes selling NFT

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There are a lot of celebrities is currently trying to cash in in a frenzy for NFT. And why not? This is an extremely misunderstood area, where many novice investors see it as a plan for getting rich quick that cannot be missed.

The main problem is with scams like the ones they involve Brady. Fraudsters posing as celebrities will try to deceive fans by stealing their data or otherwise deceiving them to buy worthless NFT.

According to the executive director of cyber security firm BrandShield, Yoava Kerena, these scams give fans hope while giving them something that is not exclusive. “When you buy an NFT image of Tom Brady, what that NFT represents is that you are the sole valid owner of that image,” Keren said. “If someone sells you a fake, you’re not the real owner.”

The fake NFTs supported by Brady probably aren’t going anywhere, but for sports fans who love crypto, be careful. If something seems too good to be true, it probably is.

RELATED: 6 charities that Tom Brady works with and 1 that he founded

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