BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Athletes Warned of Risks in NFT Ventures Amid Dwight Howard Collection

by Matoy
February 9, 2024
in Breaking News, Crypto, Investing, NFT
A A
1
SHARES
Share on TwitterShare on Reddit
  • Former NBA star Dwight Howard’s NFT launch was a disaster and damaged his reputation, showing the risks of rushing into poor-quality NFT projects for athletes.
  • Cristiano Ronaldo demonstrated the fan engagement potential of NFTs by training with token holders, encouraging more athletes to explore Web3.
  • Athletes must take time to ensure that the art, utility, marketing, and tokenomics of NFT projects align with their personal brands to avoid backlash from rushed launches.

Former NBA player Dwight Howard’s recent NFT drop was a “complete disaster” according to Zilliqa’s Tom Fleetham. The project only attracted a few buyers before being pulled for a redesign. Howard was accused of executing a “rug pull” by some in the crypto community. Fleetham says athletes must take an active role in every aspect of their NFT launches to avoid reputational damage.

Thanks @DwightHoward for the quick rug pull. pic.twitter.com/PSuAwCsYGW

— ZachXBT (@zachxbt) January 30, 2024

Cristiano Ronaldo Demonstrates NFT Utility

In contrast, footballer Cristiano Ronaldo recently showcased a key benefit of NFTs by training with fans who held his tokens. This exemplifies how NFTs can enable deeper engagement between players and supporters. According to marketing executive Oh Thongsrinoon, Ronaldo’s involvement could prompt more athletes to enter Web3 as adoption grows.

The Pitfalls of Rushed NFT Projects

While the potential upside is clear, the risks of a poorly executed NFT launch are substantial. Athletes must take time to ensure the art, utility, marketing and tokenomics align with their personal brands. Unless executed properly, the resulting backlash can negate any commercial benefits.

Conclusion

NFTs present opportunities for athletes, but also hazards if approached carelessly. Sports stars would be wise to thoroughly understand Web3 before launching hasty projects that may damage their reputations. With careful planning, NFTs can become a valuable way to connect with fans worldwide.

Tags: dwight howardNFTrug pull
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

XRP at a Crossroads: Only Two Ways This Can Go
Crypto

XRP at a Crossroads: Only Two Ways This Can Go

June 20, 2025
Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?
Crypto

Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?

June 20, 2025
Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire
Bitcoin

Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire

June 19, 2025
SHIB Slides to Two-Month Low as Bears Eye Key Support Level
Crypto

SHIB Slides to Two-Month Low as Bears Eye Key Support Level

June 19, 2025
XRP at a Tipping Point: Breakout or Breakdown?
Crypto

XRP at a Tipping Point: Breakout or Breakdown?

June 19, 2025
Who Will Win the Layer 1 Crypto War? These Are the Chains to Watch Right Now
Cardano

Who Will Win the Layer 1 Crypto War? These Are the Chains to Watch Right Now

June 19, 2025
Load More

Related News

XRP at a Crossroads: Only Two Ways This Can Go

XRP at a Crossroads: Only Two Ways This Can Go

June 20, 2025
Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?

Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?

June 20, 2025
Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire

Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire

June 19, 2025
SHIB Slides to Two-Month Low as Bears Eye Key Support Level

SHIB Slides to Two-Month Low as Bears Eye Key Support Level

June 19, 2025
XRP at a Tipping Point: Breakout or Breakdown?

XRP at a Tipping Point: Breakout or Breakdown?

June 19, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.