Colin Kaepernick follows Tom Brady's path to crypto space, acquires Bored Ape NFT

Colin Kaepernick and Tom Brady have both played in a Super Bowl at one time or another. Both quarterbacks have also entered the crypto space. While Brady has made investments in crypto, Kaepernick has gone in a slightly different direction.

In a post on the Bored Ape Gazette, it was announced that Kaepernick had bought an NFT with Bored Ape. Yuga Labs has released a list of 36 people, brands and firms that took part in its seed round. Bored Ape #7434 now belongs to Colin Kaepernick.

It is worth noting that the blog post refers to him as a "former quarterback," a title reserved for officially retired players. Based on the quarterback's clear attempts to get back into the league, many would agree that the title stung him. Nevertheless, while he hasn't joined Brady in the employment space, he has joined him in the crypto craze.

What did Colin Kaepernick buy?

Former NFL QB at Michigan Spring Game

An NFT is a "non-fungible token." Put simply, an NFT is similar to a digital version of a one-of-one original painting. Copies may exist, but this one is the original. Put simply, the goal is to buy the original and then sell it for a profit. Not unlike a house that appreciates in value.

NFT's can be songs, photos, videos, digital costumes in video games, or anything of which you can buy the original copy. Their costs can vary depending on how many people are competing to own the item. Some NFTs can go for a few dollars while others can go for thousands or hundreds of thousands. There is no limit to how much one can go for, but on the other hand, many go without being sold.

Put simply, those trying to sell an NFT are trying to make a quick buck now while those buying are trying to make a bigger buck later. Buyers are not guaranteed to get their wish. Like any investment vehicle, the value of the NFT can implode at any time for a number of reasons. They are also not invincible and are susceptible to damage like any physical one-of-one.

While paintings can be destroyed in a fire, for instance, an NFT could become corrupted by a computer virus. If loaded locally on a hard drive, it can be lost or corrupted if the hard drive is destroyed.