MLB hops on NFT bandwagon with 1939 Lou Gehrig video clip

Major League Baseball plans to auction off a Lou Gehrig non-fungible token next month, marking the latest professional sports league to dive into the NFT craze.

MLB's first NFT, as the technology is known, will consist of a video clip of Gehrig's famous "Luckiest Man" speech, which he delivered in July 4, 1939, after being diagnosed with amyotrophic lateral sclerosis, or ALS, now known as Lou Gehrig's disease. Bidding on the NFT will take place on July 4, and proceeds from the sale will go toward charities that focus on ALS.  To launch the NFT the sports league is teaming with digital collectible company Candy Digital, a new venture created by Fanatics chairman Michael Rubin, Galaxy Digital CEO Mike Novogratz and entrepreneur Gary Vaynerchuk. Candy Digital will be the official platform for fans who want to buy and trade baseball NFTs. The company did not specify a starting bid or reserve price for the Gehrig NFT auction.