NBA Enters Sports NFT; Will Launch Fantasy Basketball Game

Abigal Vee
September 7, 2022
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

The National Basketball Association (NBA) plans to jump on the sports NFT craze in a recent partnership with Sorare. Sports NFTs are witnessing a surge in interest from top brands and personalities. Following top rappers Snoop Dogg and Eminem’s BAYC MTV performance, NBA is the latest to give attention to NFTs.

Fans can create Sports NFTs of players and teams

In a recent press release Wednesday, the NBA and the National Basketball Players Association (NBPA) disclosed a partnership with digital collectible fantasy football game developer Sorare. The aim of the partnership is to develop an NFT-based fantasy Basketball game.

The game will give fans the opportunity to create digital representations of their favorite players and teams in the form of sports NFTs. These NFT-based collectibles will earn fans points based on the real-life performances of their players and teams. The partnership further gives Sorare rights to NBA team logos, to use in its products.

Per the media release, Sorare and the NBA will launch the free-to-play game this fall, just in time for the 2022-23 season.

With Sorare’s emerging NFT fantasy platform, we see significant opportunities to broaden our community of fans and grow NBA basketball around the world,

said Adam Silver, NBA Commissioner.

Sports NFTs are rising in adoption

Nicolas Julia, co-founder and CEO of Sorare, acknowledged the significance of the partnership for basketball fans and the NBA. Julia noted that the game is likely to bring basketball fans closer to their favourite teams and players.

…our game gives basketball fans the ultimate sports entertainment experience, where they can play like a general manager, own their game, and foster real-world connections,

he added.

Adrien Montfort and Nicolas Julia developed Sorare in 2018. The project is a blockchain-based game that gives football fans the ability to trade digital collectibles representing their favourite players and teams. It is built on the Ethereum blockchain. The concept is getting the attention of the sports industry, as noticed from the recent NBA partnership.

Additionally, last month, Bundesliga team Borussia Dortmund (BVB) made Sorare a premium partner in a contract between both entities. Much earlier – in October of 2021 – Bundesliga International entered into a major sports NFT deal with Sorare.

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Abigal .V. is a cryptocurrency writer with over 4-years of writing experience. She focuses on news writing, and is skilled in sourcing hot topics. She’s a fan of cryptocurrencies and NFTs.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.