The New York Times reports that the NFT business that NFL great Tom Brady is involved in has recently implemented a new approach as a reaction to the increasing controversy surrounding the endeavor. Autograph is now focused on a more comprehensive strategy to assist celebrities in cultivating loyalty with their followers. In addition, the company has made modifications to its marketing, including the removal of several cryptographic jargon.
Tom Brady’s Autograph NFT: Shifting the Tactics
According to a report that was published in the New York Times, an NFT startup that was created by NFL superstar Tom Brady is modifying its approach in reaction to negative market problems. This development is in line with what was predicted.
As a result of the widespread decline in the digital asset market in 2022, Autograph’s revenue saw a decline as well. As a direct consequence of this, the organization had to cut back on personnel by terminating the employment of more than fifty workers, as was revealed by Insider back in May and then finally verified by the Times.
Now, the firm has recently adopted a more holistic strategy in which it is concentrating on assisting celebrities in cultivating fan devotion while simultaneously decreasing its usage of crypto-related terminology in its marketing. FTX investors have filed a lawsuit against Brady and a number of other public figures, including Brady’s ex-wife Gisele Bundchen and basketball star Stephen Curry, alleging that the defendants engaged in fraudulent behavior.
Tom Brady’s Monumental NFT Funding
As was to be expected, Autograph finished its Series B investment round of 170 million dollars the previous year. This round of funding was jointly led by Andreessen Horowitz (a16z) and Kleiner Perkins. Other investors that took part in the round include Nicole Quinn, an executive partner at Lightspeed Venture Partners, and the newly formed investment company founded by Katie Haun, a graduate of the a16z accelerator program.
As a result, Haun, two executives from a16z named Chris Dixon and Arianna Simpson, and a partner at Kleiner Perkins named Ilya Fushman will all become members of Autograph’s board of directors.
Earl Berg is a seasoned technology writer at Digital Overload, bringing over 10 years of experience in the tech industry to his role. Earl’s passion for technology and his knack for translating complex tech concepts into understandable language make his articles a favorite among readers. His coverage spans a wide range of tech topics, from gadget reviews and software updates to innovative breakthroughs in the tech industry. Earl is dedicated to providing his readers with honest, unique, and insightful content, always with an objective and open-minded approach. When he’s not immersed in the tech world, Earl enjoys hiking and photography.
