Tom Brady NFT Fetches $40,000 Amid Super Bowl Crypto Marketing Void

9 months ago 3

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Dapper Labs recently announced the $40,000 sale of a video non-fungible token (NFT) of former football quarterback Tom Brady. This sale was part of $10 million worth of NFTs sold from the National Football League’s (NFL) All Day collection since September 2023, confirming the potential Tom Brady and other celebrities have to capture new crypto users during big events.

Dapper Labs confirmed that a video NFT of Tom Brady sold for $40,712 23 days before Sunday’s Super Bowl LVIII. An NFT of Joe Montana, who previously played for both teams that competed in Sunday’s clash, raked in $34,000.

Tom Brady NFT Boosts NFL All Day Volumes

Brady’s NFT depicted five touchdowns he achieved for the Tampa Bay Buccaneers in 2021. Montana’s NFT depicts an iconic pass to San Francisco 49ers receiver Dwight Clark against the Dallas Cowboys. Another clip featuring former New York Jets player Aaron Rodgers sold for $34,000.

Read more: 11 Most Expensive NFTs Ever Sold

Dapper Labs commissioned Montana and former Dallas Cowboys quarterback John Elway to promote the collection. While they haven’t quite reached the heights of NBA TopShots highlight reel NFTs, the NFL All Day collection has accumulated $10 million since they launched at the start of the NFL season in September.

Crypto Ads Absent at Super Bowl LVIII

This year’s Super Bowl lacked crypto marketing, with former heavy spenders like Coinbase, FTX, and Crypto.com conspicuously absent. Crypto companies that survived the 2022 fallout appear unwilling to fork out the millions.

Before shelling out $14 million for the famous bouncing logo ad during Super Bowl LVI, Coinbase reported revenue of $7 billion in Q4 2021. In Q3 2023, the company reported revenues of just $674 million, which may have caused it to forego the $7 million price tag for a 30-second Super Bowl LVIII spot.

FTX, which also spent heavily on a high production-value Super Bowl ad for the 2022 event, spent $5.5 million. Its former CEO, Sam Bankman-Fried, is facing jail time for fraud, while the exchange could be liquidated this year.

Celebrities still appear to be drawcards, though. Appearances by Brady, Ben Affleck, Jennifer Aniston, and Jennifer Lopez stirred 1.3 million social media interactions for the advertisers. Celebrities can help aid a company’s crypto marketing plan by offsetting the cost of advertising by creating social media buzz.

But now, even as crypto’s prominence at major events like the World Economic Forum wanes, celebrities could play a vital role in introducing new customers to crypto. Celebrities like Brady can attract new customers with novelty and boost on-chain activity. Crypto lawsuits against Tom Brady and NBA star Steph Curry for links with FTX could necessitate the due diligence that may protect investors.