NFTs are all stored on the ‘Blockchain’, a way of storing digital information in an ever-expanding array of servers and code. This is Bored Ape Yacht Club, an NFT art scheme using thousands of procedurally generated primates. Bitcoin, probably the most famous cryptocurrency, has seen more than 50% of its value wiped out in just over two months, emphasising the dangerous landscape which young football fans could be getting themselves involved in. Perhaps in 2030 we will be reading a Lords report assessing the damage of NFTs on young football fans in the UK. In Spain, La Liga struck a deal with NFT company Sorare to produce NFT football trading cards, with some costing in the region of hundreds of thousands of pounds.

Source: Metro February 07, 2022 20:17 UTC