Steph Curry jumps into NFTs with $180,000 purchase of Bored Ape digital artwork
NBA superstar Steph Curry has joined the digital asset boom with an approximately $180,000 purchase of an ethereum-based non-fungible token from the Bored Yacht Club.
The two-time MVP made the purchase on August 28 for 55 ether, according to the Bored Ape Yacht Club profile on NFT auction platform OpenSea.
He made the announcement known by updating his Twitter profile photo with his new asset: a bored-looking blue-furred ape that's wearing a tan tweed suit with zombie's eyes. The Golden State Warrior star also posted a selfie photo to the club's Discord chat.
A screenshot of Stephen Curry's Twitter profile page as of August 30, 2021.Stephen Curry's Twitter account.
NFTs have soared in popularity this year. For the month of August alone, OpenSea has seen $2 billion in transaction volume, according to data from The Block.
The tokens are digital representations of artwork, sports cards, or other collectibles tied to a blockchain, typically on ethereum. Each NFT has a signature that can be verified in the public ledger and cannot be duplicated or edited.
When people buy NFTs, they gain the rights to the unique token on the blockchain, not the artworks themselves. But the fact that the information on a blockchain is next to impossible to alter makes NFTs appealing, especially to collectors and artists.
Still, experts believe the space is still nascent and has ways to go before becoming mainstream. Challenges to overcome include interoperability, scalability, and accessibility.
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