The NBA reaffirms its interest in NFTs and the metaverse with this new initiative

After the huge success of NBA Top Shot, the NBA (National Basketball Association) has decided to intensify its presence in the NFT market. To this end, the league launched a new Twitter account earlier this week, which it soberly called NBAxNFT. This will be responsible for promoting NFT projects and metaverse games that have a link with basketball.

Launch of an NFT collection dedicated to the playoffs of the current season

For communication needs around the initiative, the NBA has created a Discord server which already has more than 100,000 members. The league announced its intention to launch NFTs on Ethereum in connection with the playoffs, which marks the last stage of the current season before the grand final. ” To start, we are working on an NFT project to celebrate the NBA playoffs. We’re not ready to announce details yet – that will come soon “says the announcement. To this end, the NBA has announced that the first 10,000 members of the Discord server will be able to provide an Ethereum wallet address to procure one of the NFTs.

The league explained that minting NFTs will be free for the occasion, although fans will have to bear the Ethereum network gas fees. Since this new project is built on Ethereum, it is unlikely that Dapper Labs and NBA Top Shot are directly involved. In effect, NBA Top Shot is built on Flow, the blockchain owned by Dapper Labs. This had been developed in particular in response to the immense success of the company’s first NFT project, the CryptoKittieswhich at the time showed the limitations of Ethereum.

An initiative that also extends to Web3

In the announcement posted on the Discord server, the NBA indicated that the NBAxNFT account will also be used to promote a variety of projects in the web3. “This Discord server (like @NBAxNFT on Twitter) is the official NBA place where basketball and Web3 fans can engage, interact and learn about current and future NBA projects and partnerships. It is not limited to a single NFT project,” the announcement states.

In addition, the NBA recently filed a trademark application in the United States for protect the use of the term The Association in the NFT market. In particular, the league plans to bring together a variety of NFT-related initiatives around this brand, ranging from collectibles to game tickets and merchandise.

The NBA’s commitment to NFT and Web3 responds to the need to increase fan loyalty and strengthen interactions between fans and the stars of the basketball league. The start of the playoffs and the launch of an NFT collection dedicated to the playoff series should give him that opportunity.

Source : Decrypt

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Far from having dampened my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.

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The NBA reaffirms its interest in NFTs and the metaverse with this new initiative


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