On Wednesday, NBA will begin minting The Association, an 18,000-asset Ethereum NFT collection. In this year’s NBA playoffs, each Association NFT stands for an actual NBA player. Each of the 16 NBA teams will be represented by 75 NFTs.
These NFTs, on the other hand, aren’t stable. NFT attributes will vary during the playoffs based on each player’s real-life performance, thus a particular number of dunks, blocks, three-pointers, rebounds, or assists will alter a player’s picture. The player’s team’s performance will also affect the background and “frames” of the NFT.
Interestingly, NBA fans will not be overcharged for the NFTs. The NFTs will be free to mint, according to the company’s website, but collectors will have to pay for the cost of gas on Ethereum. However, the NBA is reserving some assets for holders of NBA Top Shot NFTs, with each wallet receiving a maximum of one.
The NFT art will be released on Friday, after the start of presale minting, and will be available on NFT markets such as OpenSea.
The announcement comes only a few days after the NBA opened a Discord server (with almost 50,000 users) and a new Twitter account dedicated to anything “NBA x NFT.” Some speculated that the NBA had submitted a trademark registration for “The Association” branding earlier this month, which sparked speculation.
While the overall NFT industry is declining, interest in sports NFTs has remained strong. Swoops, the NFT basketball game backed by Gary Vaynerchuk, announced a $3.5 million investment round last week to help grow out its fantasy sports title on Polygon.
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