Non-fungible tokens are all the rage these days — and if you wanted any evidence of that, a blockchain-based trading card of a world-famous footballer has just sold for a whopping $66,850.
The rare card featuring Paris Saint-Germain forward Kylian Mbappé — the only one of its kind to exist on the Ethereum blockchain — was auctioned off on the Sorare website, attracting a bidding war. And the new owner isn’t messing about either, informing those who might be interested in buying Mbappé off him will have to part with a cool $150,000.
The flurry of excitement is reminiscent of the peak of the CryptoKitties craze, when digital cats were generating six-figure sums.
More than 100 soccer teams have now joined the Sorare platform, including some of the world’s best-known clubs. It comes as increasing numbers of mainstream brands begin to embrace NFTs, with the BBC preparing to launch a series of digital collectibles in homage to the beloved “Doctor Who” sci-fi series.
Why This News Matters
NFTs are an exciting application of blockchain technology, not least because they solve some of the biggest issues associated with the collectibles industry today.
These tokens — often following the ERC-721 standard — help to eliminate counterfeiting, achieve true scarcity, and allow people to prove their ownership on the blockchain. They can be used in immersive digital games, and provide a much-needed, 21st-century upgrade to a multibillion-dollar industry.
Learn More on CoinMarketCap Alexandria!
Our education portal has something for everyone. Why not enjoy a deep dive into the future of gaming in a virtual world — and learn how blockchain could transform the way we play our favorite titles?
Subscribe to Our Daily Newsletter!
You can find this story (and much, much more) in our daily newsletter. Subscribe here for top stories, analysis, market activity, crypto jobs and fun polls.