Star NFL QB Patrick Mahomes says it was a 'no brainer' for him to get into NFTs

AP Photo/Charlie Riedel

  • Patrick Mahomes is getting into the non-fungible token market with the "Museum of Mahomes."
  • The star NFL quarterback said he would buy "at least one" NFT for himself.
  • NFT sales have been booming after the digital artist Beeple sold a piece for $69 million.
  • See more stories on Insider's business page.

Patrick Mahomes says it was a "no brainer" for him to get into non-fungible tokens given the recent rise of the digital assets.

The star NFL quarterback sat down with CNBC on Friday to discuss "The Museum of Mahomes," which is set to launch March 17 on MakersPlace, a digital art selling platform.

In the interview, Mahomes said he got into NFTs in order to "find another way to connect with my fans." The Kansas City Chiefs star is teaming up with a group of artists who call themselves The Impossible Brief to put on an NFT sale.

There will be six different art pieces for sale in the digital "museum" ranging in price from $2,500 to up to $15,000. The virtual exhibit will also include one mystery item that has yet to be priced.

Ten signed helmets and jerseys will be given away to randomly selected winners who take part in the sale as well.

Mahomes will donate part of the proceeds to his foundation, called "15 and the Mahomies", and the Boys & Girls Clubs of Missouri.

The Kansas City Chiefs star said he wants to do what he can to find "another asset" for fans to buy as a way to connect with players.

When asked whether or not he would buy into NFTs himself, the star quarterback said he would have "at least one of them."

Mahomes said buying the NFT would be like Lebron James buying his own Rookie Card.

Lebron's rookie card, in physical form, sold for $1.8 million in 2020 at Goldin Auctions and is the most expensive basketball card ever purchased.

NFTs have been the talk of the town of late after a work from the digital artists Beeple sold for a record $69 million in a Christie's auction on Thursday.

The NFT market witnessed 299% year-over-year growth in 2020, according to a study from a PNB Paribas subsidiary. With Mahomes entering the market in 2021 and high dollar sales piling up the growth trend for NFTs may very well be set to continue going forward.

Read more: Buy these 30 stocks poised to lead an electric-vehicle revolution that will account for 50% of new-car sales by 2030, UBS says

Source: Read Full Article