• NBA Launches Web3, Metaverse, and NFT Collectibles Initiative

  • The National Basketball Association (NBA) announced the launch of its own non-fungible token (NFT) initiative, “NBAxNFT,” this week. The purpose, according to the NBA, is to exhibit “all things intersecting basketball and Web3, including NFTs, gaming, and the metaverse.”

    • Following the success of the popular NBA Top Shot collection and the impending Golden State Warriors 2022 Playoff responsive NFT collection, the NBA has launched NBAxNFT, which comprises of a Twitter account and a Discord channel.
    • NBAxNFT bills itself as the “official Web3 home of the NBA,” and the project’s goal is to merge all things basketball with NFTs, gaming, metaverse, and Web3 concepts.
    • “Thank you to everyone who has followed,” the initiative’s official Twitter account says. “If you’re new here, we’re happy to share all things NBA basketball and Web3 in this place.” “We’re excited to engage with our community and partners like NBA Top Shot.”
    • In terms of all-time NFT collection sales, the Dapper Labs’ NBA Top Shot NFT collection ranks tenth in terms of total sales volume. Since the NFT’s debut, NBA Top Shot has sold a total of 16,006,548 units, totaling $885.6 million.
    • At the time of writing, the recently formed Discord channel had over 35,000 members, and the NBA has announced that the 2022 Playoff NFTs will be released this weekend.
    • “We’re displaying everything intersecting basketball and web3, including NFTs, gaming, and the metaverse,” the NBAxNFT Twitter account explained when the Web3 project originally debuted.
    • The NBA’s Golden State Warriors announced the release of a 2022 Playoff responsive NFT collection four days ago.
    • The NBA has not stated whether or not Dapper Labs or the Flow blockchain will be involved as of press time, despite mentioning the firm in a tweet about partners. Discussions on the NBA’s Discord channel suggest that the future NFT drop will be issued on Ethereum.
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