John Terry's NFT collection plummets by 90 per cent in value
What will he promote now?
John Terry's range of Non-Fungible Tokens (NFTs) have drastically decreased in value by almost 90 per cent in the last month, reports The Athletic.
Terry has been extremely active in promoting his collection of 'Ape Kids Football Club,' which were going for prices averaging around $656 after launch on February 2, but by March 8 the average price had dropped to just $65.
The former Chelsea defender had also recruited plenty of his former team mates to join his collection, but even those appear to have lost faith, with the likes of Tammy Abraham and Ashley Cole quietly deleting their endorsements in recent times.
Meanwhile, anyone who had been inspired or motivated to also purchased NFTs in a bid to replicate their sporting stars is now likely to have also experienced a significant loss on their investment.
The cryptocurrency and NFT market has experienced a dip in general, however a drop of 90 per cent is above the general average other users of the market have witnessed.
It follows after it was reported that the Premier League were close to striking a deal of their own to launch its own collection of NFTs, with all 20 clubs expected to be involved.
In January, the Premier League contacted Terry and told him to remove the Premier League trophy from his NFTs due to intellectual property laws.
Terry was also asked to remove the Chelsea badge as well as any FA and UEFA trophies that featured on the 'Ape Kids Football Club' collection.
Sounds pretty fungible to me.
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