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As trading volumes plummet, Mark Cavendish announces second NFT partnership

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Winners of the oldest cycling race in the world, Milano-Torino, used to have a glass of wine or additional dessert at dinner. Mark Cavendish announced a new NFT relationship the day after winning in Turin in 2022. I’m trying to envision explaining a non-fungible token to someone who saw the first edition in 1876.

This would have been true if Mark Cavendish hadn’t become the first rider to collaborate with an NFT initiative before to the 2021 Tour de France, just when the boom was really kicking up.

This latest venture into costly jpegs is more in tune with the cartoonish tone of the popular Bored Ape Yacht Club NFT collection.

As one of Edgar Plans’ ‘Lil’ Heroes, Cavendish appears in a green jersey with ‘Mark’ emblazoned on it, a Union Jack helmet, and blowing bubbles that form small bikes (yep, you read that last part correctly).

While detractors of NFTs may point to Cavendish for working with an environmentally problematic technology, all earnings from the sale of the NFT and a tangible artwork will go to the Save The Children organisation.

The Lil’ Heroes NFT collection has 7,800 works of art, with an average selling price of $2,400. The average price of an NFT has dropped roughly 50% since November, while daily trading volumes on the OpenSea marketplace have dropped by 80% from February’s high $248 million.


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