Davies joins NFT boom with Binance-hosted digital art collection

Davies joins NFT boom with Binance-hosted digital art collection

The 20-year-old Canadian star has latched onto the rapidly growing financial market of virtual collectibles

Bayern Munich star Alphonso Davies has become the latest football player to participate in the world of digital collectibles bought and sold using cryptocurrency.

The 20-year-old will release three pieces of virtual art in June through the soon-to-be-launched Binance Non-Fungible Token (NFT) marketplace. Their exact designs have yet to be determined, but they will be crafted by illustrator Jack Perkins and are likely to relate to the Canadian left-back’s blossoming on-field career in the Bundesliga.

Davies’ limited-edition art will be awarded randomly to three people via raffle but can then be sold through the new Binance exchange.

Why it matters

By involving himself in a technology trend that sees billions of dollars exchanged each year, Davies is taking steps to emerge as a businessman in addition to an athlete.

It’s a mutually beneficial branding ploy, too, as he adds star power to the Binance NFT marketplace launch while having his persona attached to a hot topic.

What has been said?

“It’s been crazy to see the way crypto has grown over the years to the point where I feel now it’s changing the game through NFTs and providing another opportunity for genuine engagement with fans,” Davies said in a news release.

“Away from football I am always looking into new technological changes to help engage with people across the world, and this is just another layer to my digital presence.”

What is an NFT?

Experts view digital collectibles – known in the industry as NFTs – as a form of modern investment set to become mainstream in the coming years. They could one day be as widespread as the practice of obtaining physical items meant to grow in value over time, such as precious metals, antique furniture or even stamps.

NFTs come in many forms, from virtual trading cards to pieces of online art such as the ones Davies is set to help create, and they are worth money because of their scarcity and because of what they represent or symbolise to collectors.

While they certainly carry risk, they also have advantages over old-school collecting. For example, people can buy and sell items instantaneously through marketplaces such as Binance, where Davies’ art will be traded, and their quality won’t degrade over time.

Who are some of the other footballers involved in NFTs?

Antoine Griezmann, Gerard Pique and Rio Ferdinand are among the top backers of Sorare, a digital football card marketplace that has grown exponentially over the past year.

Goal spoke exclusively to industry sources for a breakdown on the future of NFTs and the beautiful game.

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