NBA Fans Can Now Access Dynamic NFTs

NBA Announces Collectible NFTs for Basketball Fans

Jeff Pitterman

Jeff Pitterman

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The National Basketball Association (NBA) has taken the lead to launch The Association NFT, a dynamic and changing collectible NFT. The brand new NFT initiative takes players’ on-court performance into account and its appearance changes accordingly.

The new NBA NFTs are akin to collectible cards but are likely to attract people who are familiar with Discord groups. In other words, regular NBA fans may have to wait until they can get their hands on these non-fungible tokens.

How accessible are these NFTs to basketball fans?

Close to 18,000 NFTs will be launched based on the 2022 NBA Playoffs participants. This means approximately 75 NFTs will be minted per rostered player. Currently, there are 240 of these rostered players. However, it should be noted that of the 18,000 NFTs that will be minted, 2,000 are already reserved for the NBA Top Shot NFT owners.

Those who wish to get their hands on these NFTs will have to join the NBA Discord Group, as the remaining 16,000 NFTs will be disbursed on a first-come, first-served basis. Unfortunately, it may already be too late to enroll in the program as the list is full.

Will the NBA charge money for The Association NFT?

The minting process will take place on Ethereum, and people can pay for the NFTs (when they acquire monetary value) in ETH. Most likely, NBA already has plans to make these NFTs payable. The association directs fans towards Coinbase, where they are urged to set up a digital wallet. Coinbase is an official partner of the NBA, which explains a lot. However, there is no information about how closely Coinbase is involved in the minting of The Association NFT.

It should be noted that The Association NFT is free, at least for the moment. However, it may soon become a collector’s piece on the metaverse and in turn, become very expensive. If NBA decides not to mint any of these anymore, the value of these NFTs is drastically expected to increase.

In addition, as they are collectibles for those who truly understand the on-court performances of players, it is meant for basketball all aficionados. This may indicate a trend in which specially curated NFTs may be launched for niche audiences which may in turn become valuable collectibles that are expensive.

NBA is setting an example for other sporting associations

Certainly, NBA is encouraging and motivating other sporting associations to slowly get on the NFT bandwagon. As fans tend to value collectibles, especially when they are dynamic, sports-related NFTs may become more popular in coming years. Although NBA may offer it for free right now, the company already seems to have ideas to monetize The Association NFT.

Fans do not seem to be complaining either. Although many have already registered for their NFTs, there is a long waiting list building virtually in the metaverse for future collectibles. It remains to be seen if NBA will launch these NFTs as a one-time marketing gimmick or as a long-term revenue-generating initiative.

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