Non-fungible tokens (NFTs) keep evolving. The digitization of collectibles has been a hard sell for many collectors and investors, but as of this time there was $285 million worth of NFT transactions in the last 7 days (according to NonFungible.com) from the top three platforms alone. Now there is Cryptograph, with iconic images of Kobe Bryant photographed by Davis Factor as a new medium of sports collecting. This could become a new business model for athletes and their pursuing charitable efforts.
For those who love NFTs, this disruptive force represents the evolution of collecting. NFT investors are also searching for the next new or unique digital assets to securely invest in. Using blockchain technology has brought new platforms that help artists create and sell images. Some of these images are of iconic sports subjects. Kobe Bryant is certainly an iconic basketball player.
“Easy” is the title of the first of a series of Kobe Bryant images by Cryptograph in a live auction format. Ownership of the digital image is singular in that it is a “1 0f 1” image. Issue Number 75, Minting Block 13087855, and Creator: Kobe Bryant by Davis Factor are found beneath the image with a current high bid of 3.5 ETH or $10,994.06 with a little over one day left to bid on the item.
Collectors Dashboard evaluates high-end collectibles as an alternative asset class. Collectibles are now definitely attracting investors. If an NFT is selling for thousands or tens of thousands of dollars, that is the same capital that could have been invested in stocks or bonds. Whether this ends up with passionate collectors or investors who just want to make a profit remains to be seen.
Cryptograph is supporting The Mamba & Mambacita Sports Foundation with contributions from the sale of the Kobe images. Many other sports figures are also issuing NFTs. These just happen to be in support of a foundation that carries the legacy of recent tragedy. An intimate description of who Kobe Bryant was, separate from basketball, is paired with the collection.
Cryptograph’s NFT auctions here are represented as one of the world’s first glimpses of Kobe Bean Bryant outside of basketball. What is also unique about these photos is that they were snapped more than 20 years ago. All in all, 8 different one of a kind NFTs are being sold with all proceeds going to the Mamba & Mabacita Sports Foundation.
Whether a collector or investor is for NFTs or not, this is an interesting template for future sales of sports subjects with the charitable aspect. How this affects the final realized price is yet to be seen. Collectors and fans who adore Kobe Bryant universally agree that his life was cut short much too soon.