JOHN TERRY’s NFT scheme has reportedly lost an incredible 99 percent of its value.
Terry, 41, a coaching consultant at Chelsea, launched the “Ape Kids Football Club” non-fungible tokens on Feb. 2.
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In March, The Athletic reported that the former centre-back’s NFT token value had fallen to a whopping 90 percent.
And Now The Athletic Journalist Joey D’Urso Claims The Average Price Has Crashed 99 PERCENT in less than five months.
The business venture has been slammed by many and Terry appears to have deleted all of his social media posts related to the tokens.
They initially traded for an average price of £539 after launch and crashed to £53 just a month later.
Average costs now fluctuate between the meager one to three percent.
The plan was initially supported by Roma star and ex-Blue Tammy Abraham and Terry’s longtime teammate Ashley Cole.
Terry set up his Twitter account in November 2021 in an apparent effort to promote his online tokens.
The Blues icon has advertised the NFTs he owns on his Twitter page with cartoons of baby monkeys.
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In an NFT owned by the ex-England captain, a blue monkey – who wears a captain’s armband like Terry did 580 times for Chelsea – is surrounded by several trophies.
But his old club was reportedly under investigation after Terry and Cole used the club badge in tokens shared online.
The Blues legends have also reportedly caught the attention of the Premier League after including digital versions of copyrighted trophies.
Dozens of footballers and celebrities are jumping into the craze of the cryptocurrency world by creating their own personalized NFTs.
NFTs are digital works of art that have a unique code, meaning they can only be managed by one person.
What is an NFT?
Here’s a simple guide…
- NFTs are a hot new tradable item that is taking the internet by storm
- The letters NFT stand for “non-fungible token”
- If something is “fungible”, it can be traded for an identical counterpart
- Bitcoin, for example, is technically replaceable – you can trade one for another and have the same thing
- Physical money is also replaceable – you can exchange one £10 note for another
- An NFT is a total unique digital token with do not copy
- Like Bitcoin and other cryptocurrencies, NFTs work with a blockchain
- A blockchain is a public ledger of transactions recorded over the internet – and is completely immutable
- The NFTs on the blockchain can be traded like Bitcoin, but they are unique in their design
- This gives them a special value, because each NFT is individual and unique
- You can convert almost any kind of data into an NFT
- People are selling digital artworks, songs and even tweets in NFT form
- More extensive NFT sales include virtual trainers/sneakers and even a virtual house
- Importantly, NFTs are not physical – so when you buy an NFT asset, you only own part of the blockchain and NOT a physical item