The NBA is shooting for NFTs

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NBA Top Shot | Officially Licensed Digital Collectibles
NBA Top Moments collectibles

For the passed two years, Dapper Labs (A Vancouver-based blockchain company) and the National Basketball Association (NBA) have collaborated to create an online platform for collecting and trading digital collectible moments called, NBA Top Shot. The wildly successful trading venture has brought over $224 million in February 2021.

Since last year, everyone is planning to do their own NFT with so many opportunities for brands. NBA teams have taken sponsorship from big blockchain companies like Crypto.com, its logo is on Lakers’ jerseys and the Staple Center has been renamed Crypto.com Arena. Steph Curry from Golden States Warriors created an NFT project on FTX. The organization has fully embraced the movement.

The NBA organization has recently filed for a trademark for its non-fungible tokens (NFTs) and register 2 ENS domains;

1. nba.eth 

2. Theassociationnft.eth

They have posted on Twitter “the official Web3 home for NBA” just in time for the 2022 playoff season is in full gear.

The NBA has been trying to stay relevant and  diversify its revenue stream since viewership is on a downward trajectory for the last two decades. The goal is the launch their own proprietary NFT and expands on to the metaverse. Other major league sports are following the same direction, so look forward to more sports-related NFT and metaverse news.