The NBA: National Basketball Association, is the premier basketball league in the world. To prove the authenticity of its assets and create more trust with its community, it has just launched its NFT brand on the Blockchain.
The NBA launches its NFT brand
The NBA has officially submitted its request for the creation of NFTs. As such, it has also set up two new ENS domain names, namely: nba.eth and associationnft.eth
According to the latest information, the National Basketball Association has also launched its official channel on Discord. Fans can now freely access this open NBA network on Discord.
League players are already starting to approve and accept listings for the large-scale crypto asset. With this in mind, the National Basketball Association should register an NFT or virtual asset.
While the playoffs have just started for the NBA, the latter is also seeking to make itself known outside the basketball courts. Over the past few years, the number of Twitter followers has increased dramatically. Always with the aim of increasing their visibility, the NBA has also created a new NBAxNFT Twitter account. Their biography reads “ Official Web3 Home For The NBA.”
The NBA has thus submitted its file to “The Association”. This new project could include a wide range of virtual and physical goods. Although no official information has leaked as to the types of NFTs that will be offered, the imagination of fans is being put to the test.
Like many other sports clubs, we can thus think of collectible cards, collector’s items, or even NFTs games… In short, the list is long!
What are NFTs used for?
The development of cryptocurrencies and the interest of the population have given rise to other currencies and technologies. The latest technology is known by the acronym NFT (Non Fungible Token). In French, the term translates to Non-Fungible Tokens.
This technology aims to certify and authenticate a purely virtual asset. NFTs are unique, indivisible and represent a work of art on the blockchain . They are mostly stored on the Ethereum blockchain.
NFTs have a big role in the emerging metaverse economy. Thanks to NFTs, transparency and justice in an economy are guaranteed. It will therefore require active collaboration between NFTs and the Metaverse for a transparent economy.
In addition, a new social and community interaction is possible. The metaverse combined with NFTs would improve the social and community experience of users.
This, the sports clubs have understood. Indeed, sport tends to democratize web 3.0. Around the world, many other clubs have already integrated NFT collections on their platform. This is for example the recent case of PSG and La Liga, the 1st division of the Spanish football league.