National Basketball Association (NBA) has been particularly involved in the digital asset space. The NBA plans to mint 18,00 NFTs called “The Association” in the 2022 playoffs.
The NBA, a professional basketball league based in the United States, will issue 18,000 dynamic non-fungible tokens (NFTs) on the Ethereum network for each player competing in this year’s playoffs.
About ‘The Association NFT’
“The Association’ is an NFT collection including 240 players and 16 teams and will distribute 75 NFTs to each player.
The NBA playoffs are the main postseason competition in which the league’s champion is determined. As a result, NFTs will be used to remember this year’s edition, as they will be capable of altering appearance dependent on a player’s on-court performance.
According to 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, because the NFTs will be assigned transparently and randomly using Chainlink VRF, all participants will have an equal chance to mint any player. The following is taken from the report:
“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.”
Golden State Warriors releases NFT
The release of these digital assets coincides with the Golden State Warriors, one of the playoff teams, releasing an NFT collection.
The Golden State Warriors’ 2022 Playoff NFT Collection features 2,000 restricted NFTs created on the Solana network utilizing the crypto exchange FTX.
NFTs are being hailed as game-changers in a variety of industries. For example, as part of a program to promote security, innovation, and communication principles, the Dubai Police recently released a collection of NFTs containing 150 free digital assets.
As a result, the Dubai Police Department became the first government agency in the United Arab Emirates (UAE) to generate digital assets to aid policing.