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John Terry's NFT project has dropped 90 per cent in value over the past month according to reports.

The Chelsea legend's NFTs (non-fungible tokens) as part of the ‘Ape Kids Football Club’ collection were publicly trading for an average price of $656 having launched on February 2, but by March 8 the average price had plummeted to $65.

NFTs have faced heavy criticism and are unregulated but the Premier League are considering its own partnership which could be worth fortunes.

The losses experienced by Terry could have a huge knock-on affect for fans, many of whom may have been tempted to invest in them because their idols endorsed them on social media.

As reports the Athletic, Tammy Abraham and Ashley Cole have both deleted their endorsements of the controversial scheme, as has Terry's old England colleague Jack Wilshere.

Other professional players have also invested in the project, including ex-Man Utd star Daley Blind, former Man City midfielder Nigel de Jong, and Watford goalkeeper Ben Foster.

Non-fungible tokens are a form of digital asset based on blockchain technology that underpins cryptocurrencies like Bitcoin and Ethereum.

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