On Wednesday, the NBA and the firm behind CryptoKitties announced that they will be launching a blockchain-based collectibles platform, dubbed NBA Top Shot.
Dapper Labs, the firm behind CryptoKitties, is working with the NBA to bring unique digital video clips in the form of digital tokens inscribed on a blockchain.
The idea is that instead of having physical collectible cards, fans will have the opportunity to own a limited number of tokens containing the highlights of some of the most commemorated in-game moments from the NBA season.
Each token will be differentiated by a distinct digital market that will allow the owners to participate in fantasy league games and compete against each other.
"The community that will bring about a mainstream moment for blockchain is the NBA," said Dapper Labs CEO Roham Gharegozlou.
"We want to give basketball fans something that they have never seen before, but also something that is immediately familiar and they want to actually play with. It will be a new type of digital collection experience."
"NBA Top Shot is an entirely new way for fans to connect with their favorite athletes. We believe blockchain technology creates a truly unique product that fans can collect, manage and engage within a fun environment, and we are excited to partner with Dapper Labs to introduce these groundbreaking digital assets to the NBA community."
Although the new NBA collectibles platform will be going live later this year, it remains to be seen whether the project will be launched in an existing blockchain or if they will create one of their own.
In late 2017, Dapper Labs experienced many issues after they launched their own collectibles platform, CryptoKitties, clogging the entire Ethereum network due to the number of transactions related to the game.
The NBA and the company behind CryptoKitties launching blockchain-based collectables
Published on Aug 2, 2019
by Cryptoslate | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.