Ronaldo, Mbappe, Snoop Dogg Why do sports and showbiz stars invest in NFTs?

“NFT”, the English initials for “non-fungible token” (or non-fungible token), is a digital format that allows you to link any virtual object, be it an image, photograph, animation, video or song, to a certificate of authenticity recorded in blockchain (or “blockchain”), the same technology on which cryptocurrencies like bitcoin.

Two announcements have recently been made that symbolize the acceleration of a trend that began a year ago: less than a week after the “exclusive” and “long-term” cooperation between the currency exchange platform. cryptocurrencies Binance and football star Cristiano Ronaldo created an NFT collection, it was the turn of another football idol, Kylian Mbappe, who showed interest in the “web3” universe, the new internet.

The world champion with “Bleus” will be associated as the “investor and exclusive ambassador” of the French “startup” Sorare, the creator of an online sports card exchange game that combines two emerging sectors: NFT. and virtual sports leagues (or “fantasy sports”).

After tennis champion Serena Williams, who became an “advisor” to the board of directors and has been linked to Sorare since January last year, and football players Gerard Piqué, Rio Ferdinand and Antoine Griezmann, the French company is signing another star.

“My relationship with fans is very important to me, so the idea of ​​providing an unparalleled experience and access through this NFT platform (with Binance) is something I wanted to be a part of,” said Cristiano Ronaldo, one of the most followed personalities in the world. who have over 500 million “followers” on social media.

Authenticity or insignia?

If French actor Omar Sy or NBA basketball player Rudy Gobert support the Marauders of the Metaverse, other sports and entertainment stars such as Neymar, Eminem or Paris Hilton will join the collection of 12,000 NFTs representing a whole panel of extraterrestrial beings. “Bored Ape Yacht Club”, a narrow circle of NFT holders associated with unique sign images and sold for over $200,000 each.

Singer Justin Bieber, for example, paid $1.3 million for his last January.

“It’s really like the real world (collectors): in the NFT there are people who know a lot, are interested and spend time, and there are others who join the trend and buy what they were told to buy,” he explains. , speaking to AFP John Karp, president of NFT Factory and an expert in the sector, comparing the interest in the Bored Monkey Yacht Club to that of the nouveau riche.

A case opposite to that of Snoop Dogg. In September, the American rapper revealed that he was hiding behind the anonymous profile of “Cosomo de’ Medici,” a well-known collector in the NFT world, to purchase numerous recognized American art pieces, in addition to the “Bored Monkey Yacht Club.”

“We realized that it was quite an authentic step, true knowledge. His advice matters, his point of view matters. He is recognized as an informed person,” emphasizes John Karp.

On the contrary, there are cases when “authorities” launch their NFT collections to “monetize” their audience, although numerous examples have shown that these assets quickly depreciate in the secondary market, where the expected income is not produced.

Having made a million dollars from his fans’ near-immediate purchase of NFTs, singer Shawn Mendes saw his value halve in just one year.

After receiving $44.2 billion in 2021, spending in the NFT market fell by 75% between February and mid-April, according to Cabinet Chainalysis. AFP.