Time-OutHe was still so proud of it, John Terry (41). With a veritable collection of NFTs (Non-Fungible Tokens or non-exchangeable digital files), he appeared to be the most innovative of the former football players at the launch in February. But a good month later, the hype surrounding his ‘Ape Kids Football Club’ has already passed and his digital art collection has fallen in value by 90%. Suddenly one stands for monkey.
It’s not that Terry wasn’t promoting it. He regularly promoted the NFTs on Twitter, which were worth an average of 497 British pounds (591 euros) at the launch on February 2. A few weeks later, the average price had even risen to 656 pounds (781 euros). But on March 8, a drastic drop was noted: £65 or just £77 for footballer caricatures in the form of baby monkeys. Suddenly, almost all tweets about the subject have disappeared from Terry’s feed, which in turn suggests that it is a scam.
Other footballers also seem to have lost faith in the controversial still unregulated set-up, such as Ashley Cole and Tammy Abraham (AS Roma). Inspired by those three former Chelsea players, many an investor has lost a lot of money if possible. Also the biggest criticism of NFTs in the sports world, the newest form of merchandising. At the expense of the football fan, large sums of money regularly disappear into the wallets of already large players on the market.
In addition to the general dip in the current crypto and NFT market, the main reason for the fall in value appears to be an imminent multi-million dollar deal by the Premier League with an as-yet-unknown partner for its own NFTs. Which is why Terry has previously been asked to remove the official Premier League trophy and Chelsea badge from his ‘Ape Kids Football Club’. Because he doesn’t own the rights to it. The former Chelsea and England captain has been back at Stamford Bridge since the end of last year. He fulfills an advisory role in the youth academy.
John Terry
@JohnTerry26
Then Wout van Aert and Jumbo-Visma would have been smarter. They have already sold the three biggest victories of WVA as NFT at the end of last year. The total proceeds amounted to 47,024.18 euros. It concerned two victories in the last Tour de France, on the Mont Ventoux and Champs-Elysées, and his victory in the Strade Bianche.
Also read. Buy a monkey, get rich! As the Bored Apes Yacht Club breaks records: what are NFTs? And do I risk being made a fool of? (+)
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