Why is this big news?
Trading football cards has been around for decades and now fans of the collectables can ensure authenticity through the crypto based art-form. However, NFTs still harbour the risk of financial fluctuation and due to lack of restrictions, insider trading could occur.
This investment lead by Softbank has also seen many ex and current international stars such as Rio Ferdinand invest with the company, drawing in many more fans of the sport to the platform.
With more art forms and artists jumping on the NFT train, including Banksy and Grimes, will this interest be the catalyst for more laws to be made surrounding the trading of such items?