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Garza introduces new NFT live on national TV
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IOWA BASKETBALL

Garza introduces new NFT live on national TV

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Garza NFT.jpg

Luka Garza's non-fungible token (NFT) was unveiled Tuesday on CNBC's Power Lunch.

Iowa center Luka Garza became the first college athlete ever to introduce his own non-fungible token (NFT) on Tuesday, making the announcement live on CNBC’s Power Lunch.

An NFT is a unit of data on a digital ledger called a Blockchain. In Garza’s case, it is a montage of artwork from his recently completed college career, during which he became Iowa’s career scoring leader, a two-time unanimous All-American and the national player of the year.

Garza’s limited edition, one-of-a-kind NFT will be auctioned off Tuesday night.

He explained in about a 10-minute interview with CNBC’s Tyler Mathisen and Courtney Reagan that as an economics major with an interest in technology, he always has been fascinated by Blockchain technology.

"My dad also is in the tech world so with both of us talking about it and seeing other athletes like Patrick Mahomes do this, I thought this was a really cool and unique opportunity to kind of start pushing my brand," he said.

Along with the NFT, the winning bidder will receive a package of items, including an autographed pair of shoes Garza wore in the game in which he broke Iowa’s scoring record plus a game of horse, a private meditation session and dinner and a movie with Garza.

"This makes it kind of a unique NFT where it’s not just a miniature piece of art," Garza said. "There’s also a personal connection that goes along with it."

A portion of the proceeds from the auction will benefit Iowa’s Stead Family Children’s Hospital.

"That’s something I’m really passionate about so it’s for a good cause as well," Garza said.

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