The NFL fans are still keeping their hopes high to witness another U-turn of the Tampa Bay Buccaneers’ former legend Tom Brady to the football field. Nevertheless, the 45-year-old decided to keep the retirement decision fixed forever. In Spite of heading to the league after his second-time retirement, he is spending quality time with his three kids as well as trying to utilize his business acumen.
Besides his decision to become the minority owner of the Las Vegas Raiders and Las Vegas Aces, Brady also showcased his interest in crypto several times. However, seemingly the crypto world didn’t favor him at all as he had to suffer another loss from one of his NFT investments after FTX.
Tom Brady lost a significant amount of his “Bored Ape” NFT investment
TB12 purchased an NFT from the Bored Ape Yacht Club back in 2022 and paid them 133 Ethereum worth up to approximately $430,000 at the time, albeit luck didn’t favor him and the prices for Cyptro started to fluctuate following ongoing inflation in the whole world. According to ValueWalk’s November 2022 report, his NFT’s worth dropped to $168,250 and the fall resulted in a loss of 60% to the former football star.
Welcome to the club @TomBrady absolutely badass ape🍌@BoredApeYC #BAYC pic.twitter.com/rQA0HQ1UEZ
— FFV (@FFVV1211) April 5, 2022
The three-time NFL MVP had been a huge supporter of crypto and even launched his own NFT company ‘Autograph’ to bring together “some of the biggest names in sports, entertainment, fashion, and pop culture to work with creators to develop unique digital collectibles” per a report from CNN Business. The company has recently sold a rookie card of the California Cool for $2.25 million, marking the highest-valued trading card in football history.
Brady faced a lawsuit over FTX’s bankruptcy
The NFL GOAT invested $30 million in Sam Bankman-Fried’s FTX, and he and his former wife Gisele Bündchen witnessed a loss of $48 million after it collapsed, per The New York Times report. The ex-pair got associated with FTX back in 2021 and did multiple commercials for them. The lawsuit was filed in Florida federal court.
According to the lawsuit amassed by the Times, “None of these defendants performed any due diligence prior to marketing these FTX products to the public.”
Brady and Gisele got embroiled in legal battles following allegations from the company’s customers in the class-action lawsuit for not properly disclosing a clear picture of their own involvement with digital financial institutions. Alongside them, Shark Tank star Kevin O’Leary had lost $11 million due to the company’s debacle.
Other celebrities including the Jacksonville Jaguars QB William Trevor Lawrence, Hall of Famer Shaquille O Neal, Miami Heat legend Udonis Haslem, Japanese Tennis star Naomi Osaka, comedian Larry David, and Japanese baseball pitcher Shohei Ohtani had to fight legal battles after the NFT’s debacle.
What’s your take on Brady‘s recent business failure? Share your opinions with us in the comments.
