Tom Brady Reinvents the ‘Autograph’ NFT Platform – NFT Plazas | CPT PPP Coverage
Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE
200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |
View more Headlines & Breaking News here, as covered by cryptopolytech.com
Tom Brady Reinvents the ‘Autograph’ NFT Platform – NFT Plazas appeared on nftplazas.com by Leah.
NFL icon Tom Brady is reshaping the business strategy of his Web3 startup, Autograph. Tarnished by bear market conditions in 2022 and an ongoing lawsuit with FTX, the company faced a tremendous slump in revenue — slashing a third of its workforce as a consequence.
Brady launched Autograph, boldly dubbed “the future of fandom”, in 2021. The platform’s main goal was to sell custom-made digital assets that unlock rewards for passionate fans of many celebrities: Tony Hawk, Usain Bolt, Tiger Woods, and Derek Jeter, among others.
Despite receiving $170 million in Series B funding at the start of last year, thus, having the funds to catapult the platform to great heights, Autograph had to alter its game plan following lackluster success. Rather than solely focusing on NFT sales, it now underscores loyalty-building initiatives, including community competitions, and removes crypto buzzwords and jargon from its marketing mix to capture a larger demographic.
Flex your fandom. Our first Prove Your Fandom competition is underway and we’re looking for the biggest Tom Brady fan, voted on by the Autograph community.
Think you take the crown? Enter the competition now & find contest rules here ? pic.twitter.com/mmN3OoeZ2k
— Autograph (@Autograph) June 16, 2023
One issue causing a humungous dent in Autograph is Brady’s association with the now ceased FTX. Being an ambassador of the crypto exchange giant amid bankruptcy, he received a total of $30 million shares from the firm, which has now trapped him in a legal battle alongside his supermodel ex-wife Gisele Bundchen — who received $18 million in FTX stock — and other celebrity endorsers, including fellow sports star, Stephen Curry.
Although their shares are now worthless, FTX investors initiated the lawsuit, claiming that these luminaries misled the team behind the crypto exchange. The Tom Brady FTX legal conundrum has tarnished the renowned American football player’s reputation in the Web3 sphere, underscoring the hazards linked to influencer promotions and the weight of responsibility famous bodies carry.
Want more? Connect with NFT Plazas
Join the Weekly Newsletter
Follow us on Twitter
Like us on Facebook
Follow us on Instagram
*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Digital art fanatic who brings a unique perspective to NFT news.
FEATURED ‘News of the Day’, as reported by public domain newswires.
View ALL Headlines & Breaking News here.
Source Information (if available)
This article originally appeared on nftplazas.com by Leah – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.
We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.
CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.
First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!