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Kansas City Chiefs QB Patrick Mahomes is getting into a new business venture that is becoming increasingly popular in the digital space.
Nonfungible tokens (NFT’s) are digital assets verified using blockchain technology, making the digital assets uniquely identified and valuable. They can be anything from artwork to videos to trading cards. Basically, it’s a whole new way to monetize digital content.
On Friday, Patrick Mahomes announced that he’s getting into the NFT business with the launch of “The Museum of Mahomes.” Six pieces of digital artwork are set to go up for auction on MakersPlace beginning on Wednesday, March 17.
Mahomes joined CNBC’s “The Exchange” to speak about his new business venture:
According to CNBC, there will be three tiers of collectibles that Mahomes created in collaboration with a duo of artists called The Impossible Brief. The auction prices will range from $2,500 to $15,000 with a special mystery auction which will be revealed when the auction begins with no set price. In addition to the NFT items, the auction will feature some physical items that tie-in to those digital items. It’s just a new and innovative element that Mahomes is bringing into it.
“I’m looking to break boundaries and make history on and off the field,” Mahomes told CNBC. “That’s the great thing about being an athlete these days, you have so many outlets and opportunities to expand your brand and make an impact.”
A portion of the proceeds raised from the auctions will go to the 15 and the Mahomies foundation, which will help finish the Martin Luther King Jr. Square Park. Another portion of the proceeds will be donated to the Boys & Girls Clubs of Missouri.