NBA announces ethereum NFT collection

The National Basketball Association (NBA) will begin minting its new 18,000 asset ethereum non-fungible token (NFT) collection named The Association from next Wednesday.

Each NFT will represent a real player in this year’s playoffs. It has been announced that there will be 75 NFTs for each NBA player from the 16 teams taking part.

Based on each player’s real-life performance, NFT traits will change and evolve over the duration of the playoffs, including NFT backgrounds based on team performance. Any blocks, dunks, three-pointers, assist or rebounds will also change the player’s image.

The Association’s NFT won’t cost fans of the NBA much to acquire with the website declaring that the NFTs will be free of charge to mint.

However, a gas cost will be included on ethereum for collectors. There will also be a short supply of reserve assets for NBA Top Shot NFT holders with a limit of one per wallet.

Once the presale minting has begun on Friday NFT marketplaces like Opensea will share the NFT art. The decision to initiate such NFTs came after the launch of a new Discord server which obtained nearly 50,000 members.

Also aiding the sudden popularity of the new tokens was the NBA Twitter account named “NBAxNFT” tweeting the news with a video of rotating cards with players’ names and photographs, it stated: “INTRODUCING THE ASSOCIATION NFT: http://TheAssociationNFT.com”

Since the rush of the NFT marketplace has taken a step down in recent months, the interest in NFTs surrounding epsorts has picked up.

A recent NFT basketball game named Swoops was led by sports betting giant DraftKings’ CEO Jason Robins and Courtside Ventures and Alpaca VC. Entrepreneur Gary Vaynerchuk announced a $3.5m funding round in order to carry out the fantasy sports title on gaming website Polygon.

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Updated: 04/21/2022 — 12:00