World-famous boxer Floyd Mayweather will release his blockchain non-fungible tokens (NFTs) later this month.
What Happened: Mayweather is releasing his NFTs on May 26, partnering with digital asset companies IronBend, Reality Gaming Group, and Zytara Labs.
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The tokens will be released ahead of Mayweather's fight with YouTuber-turned-boxer Logan Paul on June 6.
Mayweather's NFTs will feature animations, artwork, and memorabilia involving his life and career, as well as memorabilia from his personal keepsakes.
It will be a collection of 5 NFTs as well as a rare one-of-a-kind token.
Why It Matters: Mayweather is not new to the cryptocurrency space, considering that he promoted numerous initial coin offerings (the crypto equivalent of an IPO) during their highest craze in 2017.
Multiple people involved in the offerings promoted by him were indicted and even sentenced to years in prison for their fraudulent schemes.
See also: Best NFT Related Stocks
NFTs are different from most tokens or Bitcoin (CRYPTO: BTC) because there are no two that are the same, making them a great way to ensure scarcity of digital collectibles or digitized representations of physical goods.
Image: rcelis via WikiCommons