This Wednesday, the National Basketball Association will launch the first of its upcoming collection of Ethereum NFT assets called The Association.
Tokens that represent ownership of an asset, like a piece of digital art, are known as NFTs. This year’s Association NFTs represent real NBA players. Participants from 16 different NBA teams will each have 75 NFTs available.
The NFTs, however, don’t remain static, as they do with actual players. In the playoffs, each player’s traits will change based on his or her real-life performance, for example, dunks, blocks, three-point shots, rebounds, or assists will radically change a player’s image. Similarly, the player’s NFT background and “frame” will change depending on how their team performs.
NBA fans will not have to pay much as a result of the Association’s NFTs. On the company’s website, it’s stated that its NFT coins will be free to mint, but that ETH gas charges will apply to interested collectors. Therefore, a few assets will be reserved for holders of NBA Top Shot NFTs and there will be a limit of one per wallet
Presale minting will begin on Friday, and the NFT art will be revealed on NFT marketplaces like OpenSea.
In addition to the Twitter account dedicated entirely to all things “NBA x NFT,” the NBA had also filed a trademark application earlier this month for the designation “The Association” before the announcement came out.
Sports NFTs continue to attract interest despite a slowdown in the NFT market as a whole. Polygon announced last week that Gary Vaynerchuk’s NFT basketball game Swoops has raised $3.5 million in funding to expand its fantasy sports game