Celebrity-endorsed NFTs leave some investors ‘financially crippled’
Mayweather, a boxing legend, had already served as Tyler’s “biggest inspiration” in his martial arts training. But Tyler was also looking for investment opportunities and figured Mayweather, who often calls himself “Money May,” was worth listening to.
Tyler, 35, a property manager whose family runs a small Miami-based trucking company, said he put together about $12,000 with the help of his mother and bought the nonfungible tokens, or NFTs, digital tokens that convey ownership of digital images. In this case, the project was a series of images of rabbits similar in nature to the popular Bored Ape Yacht Club images that helped fuel a boom in NFT art projects.
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