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Floyd Mayweather Steps Into the NFT Ring

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Boxing icon Floyd Mayweather Jr. today announced the launch of his own line of NFTs—just in time for his return to the ring.

Source: decrypt.co

In partnership with NFT provider IronBend, blockchain blockchain entertainment publisher Reality Gaming Group, and NFT production company Zytara Labs, Mayweather is set to drop a “limited edition digital collection ” on May 26, per a press release.

NFTs or non-fungible tokens are blockchain-based tokens tokens that can be used to prove ownership of digital artifacts on the internet, including images, videos, or even a tweet—or of physical assets. The market for NFTs exploded within the last year, particularly within the digital art world. In Q1 2021, NFTs generated more than $1.5 billion in sales, according to data from DappRadar .

Mayweather joins a growing list of athletes and celebrities to enter the NFT space, including Rob Gronkowski , Eli and Peyton Manning, Kevin Smith , Paris Hilton, Snoop Dogg, Eminem , and Lindsey Lohan. The boxer is set to release his own NFTs less than two weeks before his June 6 bout with YouTuber Logan Paul, who himself has reportedly made millions off of the NFT boom.

Mayweather’s NFTs will feature a “celebration” of his life and career and will include animations, artwork, and personal keepsake, according to the release. “These digital collectibles give everyone a chance to be part of the Mayweather Legacy,” the undefeated boxer said in a statement.

While the “Legacy Collection” may be Mayweather’s first foray with NFTs, this isn’t the first time that the boxer has used his name to promote a cryptocurrency product. Back in mid-2017, Floyd famously asked his Twitter followers to “call me Floyd Crypto Mayweather from now on,” as he promoted crypto startups selling tokens in ICOs ICOs .

In November 2018, the SEC slapped Mayweather with a $600,000 fine for “unlawfully touting coin offerings,” including the infamous Centra ICO. The co-founders of Centra Tech have since pleaded guilty to fraud, with one co-founder recently receiving a prison sentence of eight years .

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