NBA to Release 18,000 NFTs in the 2022 Playoffs
The National Basketball Association (NBA), a professional basketball league in the United States, will mint 18,000 dynamic NFT on the Ethereum network for each player taking part in this year’s playoffs.
The National Basketball Association (NBA), a professional basketball league in the United States, will mint 18,000 dynamic non-fungible tokens (NFTs) on the Ethereum network for each player taking part in this year’s playoffs.
The NFT collection dubbed The Association will involve 240 players and 16 teams, each player being allocated 75 NFTs.
The NBA playoffs is the main postseason tournament held to determine the league’s champion. Therefore, this year’s edition will be commemorated using NFTs, given that they will have the capability of changing appearance based on a player’s on-court performance.
Per the announcement:
“The Association NFTs are connected to live data feeds and computations for each respective team and player via Chainlink Oracle. This allows each player’s NFT appearance to change in an automated manner based upon the pre-set achievements that are written into the Galaxis smart contract.”
Furthermore, participants will have an equal opportunity to mint any player because the NFTs will be assigned transparently and randomly using Chainlink VRF. The report noted:
“The Association NFTs are being issued in a blind-mint, meaning that nobody will know which 2022 NBA Playoffs player they will receive prior to the reveal on April 22nd.”
The rollout of these digital assets coincides with the release of an NFT collection by the Golden State Warriors, one of the playoff teams.
The 2022 Playoff NFT Collection by Golden State Warriors has 2,000 limited NFTs minted on the Solana network using crypto exchange FTX.
NFTs are touted as game-changers that are revolutionising different sectors. For instance, the Dubai Police recently rolled out a set of NFTs comprising 150 free digital assets as part of a campaign to showcase security, innovation, and communication values.
Therefore, the Dubai Police became the first government entity in the United Arab Emirates (UAE) to develop digital assets to enhance policing.
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