Steph Curry’s superfans who bought the basketball legend’s digital collectibles, also known as NFTs, were another victim of the FTX crash this month.
“It’s terrible,” said software engineer Sangeet Parashar, who bought three of Steph Curry’s NFTs for more than $1,500 each. “Losing that to FTX’s negligence just sucks.”
Earlier this month, bankrupt cryptocurrency exchange FTX suspended customer withdrawals and filed for bankruptcy, leaving billions of user funds in limbo. This also applies to the FTX NFT market, which has launched many NFT projects, the most notable being Steph Curry’s and Coachella’s NFTs.
To make matters worse, Steph Curry NFT owners say they were encouraged to store NFTs on FTX rather than elsewhere. They were told that special prizes, such as an encounter with Curry, would only be available to those who saved them on FTX.
“Do NFTs need to be in the FTX account wallet in order for you to be entered into the draw?” one customer asked earlier this month in the NFT project’s Discord chat.
The official account of the NFT project responded in the affirmative, writing: “We do not have access to your wallet if it is not on FTX.”
But after the FTX crash, the NFT project didn’t say much, but only sent messages to users that they would let them know as soon as they had more information and that they were grateful for their patience.
Curry himself remains silent on FTX, although he is now the defendant in a lawsuit and the subject of an investigation by Texas regulators. Another FTX promoter, Tom Brady, has cleared his Twitter profile of FTX tweets. Curry, who also used his brand and personal profile to promote FTX, did not.
Curry was one of the celebrities who wholeheartedly supported FTX by announcing a long-term partnership with FTX in September 2021. Fortune said he received an equity stake in exchange. He starred in an FTX commercial where he said he didn’t know anything about cryptocurrencies, but he didn’t need to because he uses FTX.
Part of the partnership was the Curry NFT, “Collection 2974″, sold exclusively on FTX. The collection consisted of 2,974 unique images of each of his career 3-pointers up to the point where he broke the NBA’s all-time 3-point scoring record. The NFTs were originally sold for $499 each, with all proceeds going to his Eat fund. To study. Play.”
Parashar said the best thing about the Steph Curry NFT holder is the community. An avid Curry fan who flew to the cities specifically for the games, buying NFT gave him access to the club where he could connect with Curry’s old college teammates.
“The opportunity to be part of such a diverse community was amazing,” he said. “This is what NFTs should open up for you. NFTs have enabled broad community participation that was not possible before.”
Another NFT owner said he wanted to know more about whether NFTs could be “recalled”.
“What can you do instead of waiting to see what happens to FTX?” said Armaan Talwar, who works in the cryptocurrency industry. They were silent for a bit.