Jake Paul knockout vs. Nate Robinson being sold as NFT with bonkers price tag
In big news for the world of both sports fandom and, strangely enough, cryptocurrency, YouTuber Jake Paul’s viral and violent knockout of former NBA player Nate Robinson is reportedly drawing a sale of $10 million dollars as an NFT.
Jake Paul’s knockout of Nate Robinson is being sold as an NFT for $10M, per @TMZ_Sports
Wild. 😳 pic.twitter.com/IlupQImGtN
— Bleacher Report (@BleacherReport) April 10, 2021
For context, NFTs (short for Non-Fungible Tokens) are unique lines of code that denote ownership of any physical or digital asset. For example, the band Kings of Leon have reported made around $2 million from releasing their most recent album in NFT format. The NBA has also taken advantage of the now-trendiest form of virtual merchandise with NBA Top Shot–which is basically NFTs of player and team highlights sold in packs.
Due to the tighter than tight security of blockchain code, NFTs are highly valued for their unique and one-of-a-kind nature.
The fact that the fight was undertaken by two of the most viral stars in recent memory–Nate Robinson is one of the most famous NBA Dunk Contest champions of all time, while Jake Paul is one of the most popular vloggers on YouTube–and ended in such spectacular fashion, it stands to reason that the digital and virtual crowd would be all over the unique piece of digital merchandise.
The $10 million price tag possibly marks a new frontier for NFTs, though. Their value is derived completely from audience and fan faith, so this valuation–while novel–is possibly a hint that NFTs are here to stay in the world of sports. This, of course, is probably only going to add insult to injury for Nate Robinson, who apparently was only guaranteed to earn $600,000 for his trouble and embarrassment.