Being a super-cool reader of the ShaqFu Radio blog, you’re probably familiar with the digital money they call cryptocurrency. Heard of BitCoin? Ethereum? Dogecoin? Yup, all “cryptos.” Now there’s an even newer (and some say cooler) kind of cryptocurrency out there, called NFT’s or non-fungible tokens.
Basically, they’re one-of-a-kind works of art and other collectible items. The NBA has issued NFT’s of epic and classic plays from historic games. Artists can create original pictures, music and lots more…and sell them online. It’s a growing marketplace, and our man Shaq is dipping his big toes into the NFT waters.
For NBA fans like us, keep your eyes open online for the NBA’s “TopShot” collection. It’s created by a company called Dapper Labs (for your Googling efforts). So far, more than $780 million in collectibles have been bought and sold on the online platform.
In late September, Dapper Labs raised an additional $250 million in funding, validating the fact that big businesses realize the marketing and sales potential of NFTs.
Along with O’Neal, players like Steph Curry are getting into the NFT business. You’ll see NFT images being used on their Twitter accounts, for example. (BTW, those pics are from a collection called The Bored Ape Yacht Club and Creatures World, respectively.)
Recently, Shaq did an interview with crypto online news site Cointelegraph.com. They asked what attracted the big man to NFTs?
Shaq: In 2008, Twitter got my attention because the technology let me speak directly to my fans. NFTs are a part of the next wave of direct engagement. If you own one of my pieces, I can interact directly with you. What’s also cool is that my collectors can interact with communities of other collectors.
Originally, Shaq told business news channel CNBC that he wasn’t investing in cryptocurrencies because he didn’t understand them. Now O’Neal told Cointelegraph that he’s ready to dive into the deep end of crypto, and NFT’s are the first step (or dive) in that direction. Shaq says he’s “learning more every day.”
Shaq says NFT collections – just like Twitter – can make for better connections between athletes and fans. With NFT’s us fans can own a piece of Shaq memorabilia that no one else can have.
Shaq says NFT’s are a great way for people to “wrap their heads around” the tech involved with cryptos and other similar online projects. O’Neal says that’s exactly what’s working for him as well.
As for the Shaq NFT collections, there will be five different NFTs that reflect various moments of his NBA career, and the prices will range from $50 to $20,000. You’ll need to be able to send that money in a specific cryptocurrency, called Ether. Have fun learning about crypto…it’s the future of money!