November 27, 2022

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NBA Launches Initiative Dedicated to Web3, Metaverse, and NFT Collectibles

NBA Launches Initiative Dedicated to Web3, Metaverse, and NFT Collectibles

This week, the National Basketball Association (NBA) announced the launch of its own non-fungible token (NFT) initiative called “NBAxNFT.” According to the professional basketball league, the goal is to showcase “all things intersecting basketball and Web3, including NFTs, gaming, and the metaverse.”

Professional Basketball and Web3 Collide

  • Following the popular collection NBA Top Shot and the upcoming Golden State Warriors 2022 Playoff responsive NFT collection, the NBA has started NBAxNFT, which currently consists of a Twitter account and Discord channel.
  • NBAxNFT is being called the “official Web3 home for the NBA,” and the project aims to combine all things basketball with NFTs, gaming, metaverse, and Web3 ideas.
  • “Thanks to all who have followed,” the initiative’s official Twitter account explains. “If you’re new here, we’re excited to use this space to share all things NBA basketball and Web3. Looking forward to engaging with our community and partners like NBA Top Shot.”
  • In terms of all-time sales of NFT collections, the Dapper Labs’ NBA Top Shot NFT collection holds the ninth position, in terms of all-time sales volume. To date, NBA Top Shot has seen an aggregate of 16,006,548 sales which equates to $885.6 million since the NFT’s inception.
  • The recently launched Discord channel has more than 35,000 members at the time of writing and according to the NBA, 2022 Playoff NFTs will be released this weekend.
  • “We’re showcasing all things intersecting basketball and web3, including NFTs, gaming, and the metaverse,” the NBAxNFT Twitter account detailed when it first launched the Web3 initiative.
  • Four days ago, the NBA’s Golden State Warriors announced the launch of a 2022 Playoff responsive NFT collection.
  • At press time, it has not been disclosed by the NBA whether or not Dapper Labs or the Flow blockchain will be involved, despite mentioning the company in a tweet about partners. Discussions stemming from the NBA’s Discord channel hint at the upcoming NFT drop being issued on Ethereum.
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What do you think about the NBA jumping into creating a space for Web3, NFT, and metaverse content? Let us know what you think about this subject in the comments section below.