There are traits in the 18,000 NBA NFTs that can be modified based on performance by athletes.
The National Basketball Association will start minting its upcoming Ethereum NFT Collection of 18,000 assets called The Association, on Wednesday.
NFTs, which are unique tokens on blockchain that identify one’s ownership of an asset such as a piece or digital art, are unique. Each Association NFT represents an actual NBA player in the playoffs. Each player will receive 75 NFTs from each of the 16 participating NBA teams.
These NFTs are not static, just like actual players. NFT traits will change over the playoffs depending on how each player performs in real life. This means that players’ image will be affected by the number of assists, blocks, three-pointers, three-pointers and dunks they make. Based on each player’s team performance, NFT backgrounds or “frames” can also change.
The Association’s NFTs will not cost NBA fans much, it is noteworthy. According to its website, the NFTs are free to mint. However, interested collectors will need to pay for gas on Ethereum. The NBA reserves some assets for NBA Top Shot NFT holders and limits anyone to one wallet.
The presale minting will end on Friday. The NFT art will then be made public on NFT marketplaces such as OpenSea.
The announcement comes just after the NBA launched Discord server (with almost 50,000 members) as well as a new Twitter account dedicated to all things ” NBAx NFT.” There was also interest after some pointed out the trademark application filed by the NBA earlier this month for the “Association” branding.
The overall NFT market is slowing but interest in NFTs for sports has not diminished. The Gary Vaynerchuk-backed NFT basketball title Swoops raised $3.5 million to expand its fantasy sports titles on Polygon.