Penn National Gaming inked an agreement with Barstool for $163 million last year, which gave the American operator of casinos and racetracks a 36-percent stake in the digital media company. This partnership is resulting in Penn National taking advantage of its shares in Barstool as they’re entering the non-fungible token market.
Casino.org reports that they’re selling an NFT of Barstool founder Dave Portnoy called “One Bite Pizza Review of Blocks Pizza Deli (Miami) — Featuring Guy With No Arms.”
For those who aren’t aware of an NFT, it’s a unit of data stored on the blockchain. NFTs apply to a variety of digitized items, such as audio and video files and pictures.
Seeking Alpha also reports that the highest bidder for this NFT has the opportunity to “watch a game with Dave Portnoy where he will place a wager equal to the size of the winning bid of the NFT. If the bet hits, he will refund the winning bid to the winning bidder.”
Currently as of this writing, the highest bid for this NFT is $12,595. Various NFTs have gone for millions of dollars in the past. In March, someone paid $2.9 million for the first tweet posted by Twitter founder and CEO Jack Dorsey.
Various companies such as Topps, known for their baseball cards, have dipped their toes into the NFT market.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
