Tom Brady LOST around 60% of investments in $430,000 worth ‘Bored Ape’ NFT last year after losing $48,000,000 in the FTX crash with ex-wife Gisele Bündchen

Tom Brady and his ex-wife are facing a lawsuit.

Tom Brady LOST around 60% of investments in $430,000 worth ‘Bored Ape’ NFT last year after losing $48,000,000 in the FTX crash with ex-wife Gisele Bündchen

Tom Brady faced 60% loss on his crypto investment (Image Credit: Business Insider)

The world is still figuring out how the realm of NFT works. In the meantime, trade in the NFT is picking up pace, especially among the rich and famous. While there is a considerable amount of risk involved in the purchase and sale of crypto, many chose to ignore the immediate damage. Mostly, the process can be hassle-free, but the price of an NFT depends on how the market is performing. As the rate of the crypto reduces, so does its value, as NFL legend Tom Brady found out the hard way.

The 45-year-old, when playing for the Tampa Bay Buccaneers, joined the NFT bandwagon. He was one of the most avid supporters of the future of cryptocurrency in society. In 2021, the seven-time Super Bowl winner even launched his own NFT company called ‘Autograph.’ His aim was to bring together notable names from various fields like sports, entertainment, fashion, and pop culture who would help NFT creators develop unique digital collectibles, the CEO of Autograph, Dillon Rosenblatt, told CNN. It was also supposed to produce NFTs featuring Brady.

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Autograph recently sold a Tom Brady rookie card for $2.25 million. It became the highest-valued trading card in football history. However, it’s not always a bed of roses for the former Patriots man, as he has also suffered a large sum of money because of it.

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Tom Brady lost an absurd amount of money on his Bored Ape NFT purchase

Tom Brady
(Image credit wcbe.org)

Almost everything has its pros and cons, and NFT is no different. One makes a good buck when the value goes up, but one also risks going bust if it starts falling. Fortunately, Tom Brady won’t be going bankrupt any time soon with the amount he has earned over the years. However, he did take a major hit when crypto was in free fall during pandemic times.

In April 2022, Tom Brady purchased an NFT from the Bored Ape Yacht Club. He paid 133 Ethereum, which was valued at around $430,000 at the time. However, as luck would have it, prices for Cyptro started to tumble due to global inflation. In November last year, the devaluation cost Brady around $239,851, which is close to 60%.

As for Autograph, the company laid off 50 employees due to the loss, the New York Times reported. Keeping that in mind, Tom Brady and Co. decided to remove certain cryptocurrency-related language to save their skins.

Moreover, Brady’s association with FTX, which went bankrupt, has also negatively affected his reputation in the Crypto business. Besides being the brand ambassador, he accepted around $30 million in shares. Moreover, Brady’s ex-wife, Gisele Bundchen, and NBA star Stephen Curry are facing lawsuits for allegedly misleading FTX investors.

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