Association (NBA) intends to capitalize on the sports NFT trend.
Top companies and individuals are showing an increased interest in sports NFTs. The NBA is the next to pay attention to NFTs after the performance of top rappers Snoop Dogg and Eminem on BAYC MTV.
Fans can create Sports NFTs of players and teams
In a press release on Wednesday (September 7), the NBA and the National Basketball Players Association (NBPA) announced a partnership with digital collectible fantasy football game developer Sorare. The partnership's aim is to develop an NFT-based fantasy basketball game.
Fans will be able to create digital representations of their favorite players and teams in the form of sports NFTs in the game. These NFT-based collectibles will provide points to fans depending on the real-world performances of their favorite players and teams. The partnership also allows Sorare to utilize NBA franchise logos in its products.
Adam Silver, NBA Commissioner, said that “we see a great opportunity to widen our community of fans and promote NBA basketball around the world with Sorare's new NFT fantasy platform.”
Sports NFTs are rising in adoption
Nicolas Julia, co-founder and CEO of Sorare, highlighted the partnership's significance for basketball fans and the NBA. Julia believes the game would bring basketball fans closer to their favorite teams and players.
He added, "with our game, basketball fans can act as general managers, take control of their teams, and create solid connections while enjoying the best sports entertainment available.”
Sorare was established in 2018 by Adrien Montfort and Nicolas Julia. The aim of the company was to establish a blockchain-based game. It allows football fans to exchange digital collectibles of their favorite players and teams. It is based on Ethereum's blockchain. As seen by the latest NBA partnership the aim of the company is gaining traction in the sports world.
Additionally, Borussia Dortmund (BVB) made Sorare a premium partner in a partnership between the two businesses last month. Much earlier - in October 2021 - Bundesliga International signed a major sports NFT deal with Sorare.
As previously reported by CoinGabbbar, the usage of NFTs and metaverse in sports and other private businesses enhances the user and fan experience. It allows users to connect more efficiently with new experiences. Lastly, what are your thoughts on the NBA's foray into the NFT industry?
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