The Philadelphia Eagles made a big move in trading up to acquire Alabama’s DeVonta Smith during the first round of the NFL Draft. It’s only fitting that the Heisman-winning receiver makes a move just a big. With a vision for the future, the Alabama product has decided to enter the crypto-space with his very own token – SmittyCoin. (Hat tip to Boardroom, where all of this information was found).
For those unfamiliar with cryptocurrencies outside of Bitcoin, they are essentially an unregulated currency decentralized from traditional banking methods. They can be used to buy things without there being a paper chain being linked directly to you. One emerging area of the crypto-space is the usage of ‘NFT’s or Non Fungible-tokens.
Think of these like virtual trading cards. All of them are serialized, giving them intrinsic value, and can be traded on various marketplaces. NFT’s are being used by artists to sell exclusive digital art, and even trading card companies such as Topps, who are using a marketplace to launch a virtual version of their MLB trading Cards. NBA Topshot is among the most prominent NFT projects at the moment, with many others looking to get involved.
What Topshot provides is something similar to what DeVonta Smith is launching. A serialized moment of a highlight in his career is just one of the things mentioned in the article that Smitty Coin could be used to purchase. Think about it. If Smith were to make a highlight catch in a playoff or even Super Bowl game down the line and release an NFT where only 100 were available, how much would you pay to own that moment knowing it only belongs to you and nobody else?
The article posted on ‘Boardroom’ does an excellent job of highlighting what could be in store for those wanting to own one of the NFT’s.
from stylized versions of real photos depicting profound moments in Smith’s life (with a special appearance from his mother), a bobblehead action figure as seen above, a gold replica Heisman Trophy that explodes into Bitcoin, recreations of real-life highlights from his college days — the first time an athlete has ever done so — and vibrant artworks presented in the style of trading cards.
Smith will list his NFT’s on the Fyooz marketplace, while Smitty Coin can be used to purchase things like Video game nights, a watch party during an NFL game, a personalized message, gameday experiences, and even a private dinner! This is a truly brilliant concept and one that many players, teams, and companies are bound to explore over the coming months and years.
The article also states that Smith will donate some of the proceeds to Little Bethel Baptist Church, situated in his hometown.
At the very least, it’s an exciting opportunity to own something that is not only directly related to the 10th overall pick, but something rare and collectible in an exciting new space. You don’t often see players take this kind of leap and it only makes you wonder what he will have in store for fans of Philadelphia.
Photo by George Walker/Icon Sportswire
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