NBA and NBPA launch NFTs for fans

The NBA and the NBPA have announced the launch of a non-fungible token (NFT) initiative targeting fans. The NFTs will be distributed to fans in a designated manner, including the NBA Top Shot collectors.

NBA launches fan NFTs

The Association NFT will permit the design of these collectibles to be dynamic and change over time. The design of these NFTs will change depending on players’ performance on the court.

If a player has an impressive court performance throughout the season, the more the change in their NFTs will become visible. 18,000 NFTs will be minted featuring the 2022 NBA Playoffs participants. This comprises 75 NFTs for each of the 240 rostered players.

Around 2000 of these NFTs will be directed towards the Dapper Labs’ NBA Top Shot owners. The distribution will be done based on top collectors of each of the NBA teams on the Top Shot collection.

The majority of the NFTs will be directed to the “allow list.” Fans will qualify for this list on a first-come-first-served basis when they join the NBA Discord Group and link their digital wallet to the initiative’s website, and this list is already full.

Top Shot is a collection that comprises video moments during games. The new NBA NFT drop plans to be different, and it is more similar to collectible cards comprising a dynamic twist. This will target NBA fans compared to investors or NFT collectors. However, the collectors will be limited to the early joiners of the NBA Discord group.

These NFTs will be minted on the Ethereum blockchain, and the gas fees will be paid in Ether (ETH). Coinbase is the official cryptocurrency exchange for the NBA, and fans are being directed towards Coinbase to create a digital wallet. However, Coinbase has not been mentioned as an official partner of The Association NFT.

This is not the first venture of the NBA towards NFTs. The NBA has been behind some of the most successful NFT developments in the sports industry. The Dapper Labs NBA Top Shot is one of the most popular NFT collections, with its sales surpassing $1 billion. Top Shot as part of the NFT craze in 2021.

However, the NBA Top Shot has captured NFT enthusiasts more than basketball fans. The Association NFT plans to target basketball fans by allowing the NFT holders to follow players’ performances. The NFTs are currently free as they will be airdropped to the selected users. However, they could become expensive depending on how many NFTs will be minted.

NFTs in sports

Candy is also venturing into the NFT sector. It is launching dynamic NFTs for the MLB. The dynamic NFTs will focus on game statistics compared to video moments. The growing popularity of dynamic NFTs could signal a major change in the role of NFTs in the sports sector.

Recur announced the launch of an NFT marketplace for college NFTs. Amazon has also invested in sports collectibles, while SportsIcon announced a launch of NFTs featuring a documentary.