NBA Announces 'Dynamic' Ethereum NFTs for Playoffs
They’ll All Need To Make Room For The Future Of Basketball Memorabilia Investment: NBA NFTs.
The National Basketball Association (NBA) will soon launch its dynamic NFTs as
on Wednesday, NBA starts minting its forthcoming Ethereum NFT collection dubbed
as "The Association".
NBA x NFT Twitter
The Association will consist of 18,000 assets and each player from the 16 NBA teams competing will have 75 NFTs.
The Association’s features
Each Association NFT is a true NBA player participating in this year’s playoffs. NFTs are one-of-a-kind blockchain tokens that denote ownership of an asset, such as a work of digital art.
Among the features of these NFTs is, like real athletes, they do not remain static. These NFTs will alter during the playoffs based on each player’s real-life performance, such as a particular number of dunks, blocks, three-pointers, rebounds, or assists.
The player’s team’s performance will also affect the NFT backdrops and “frames.”
The characteristics of the 18,000 NBA NFTs will alter depending on the athlete’s performance.
In particularly, The Association’s NFTs will not be prohibitively expensive for NBA fans. According to the company’s website, minting the NFTs will be free, but interested collectors will be required to pay the cost of gas on Ethereum. Having said that, the NBA is reserving some assets for holders of NBA Top Shot NFTs and restricting each wallet to one.
Following the start of presale minting, the NFT art will be released on Friday and will be made available on NFT markets such as OpenSea.
The announcement comes only a few days after the NBA opened a Discord server with almost 50,000 users and a new Twitter account dedicated to anything “NBA x NFT.” Some speculated that the NBA had submitted a trademark registration for “The Association” branding earlier this month, which sparked discussions on social media.
While the overall NFT industry is declining, interest in sports NFTs has remained strong. Swoops, the NFT basketball game backed by Gary Vaynerchuk, announced a $3.5 million investment round last week to help grow out its fantasy sports title on Polygon.
Official Licensed NBA NFT : Top Shop
NBA FB : NBA
