Alex Ovechkin is going all-in on NFTs, announcing his own collection will drop on August 8.

The Great 8's announcement follows Monumental Sports & Entertainment's own release of NFT collections for the Washington Wizards and Capitals. Other sports figures who have jumped on the trend this year include Kansas City Chiefs quarterback Patrick Mahomes and San Diego Padres star Fernando Tatis Jr.

Ovechkin partnered with Eternity Chain, a marketplace platform for limited-edition authenticated NFTs endorsed by notable figures, and Impossible Brief, a London-based design studio that creates NFTs in addition to other artwork. Ovechkin's NFT is in celebration of his new contract with the Washington Capitals. 

NFTs, or non-fungible tokens, are unique digital and collectible assets representing a moment or item that can be electronically bought, sold or traded through a decentralized marketplace. (Think trading cards, but all digital.)

Ovechkin signed a five-year contract with a $9.5 million AAV during free agency so he can finish his career in DC. The Capitals captain is 164 goals behind Wayne Gretzky in pursuit of the all-time goals record.