“Crypto Currency is taking over the NBA!”: From stadium names to NFT sneakers, crypto and its various forms are making their way into the league
|Published December 09, 2021
Crypto Currency is all the rage in the world – the NBA is not one to fall behind.
Tyrese Haliburton bought a $140,000 Bored Ape Yacht Club NFT, which he proudly now wears on his sneakers. The Sacramento guard got a pair of sneakers customized to have his purchase on him at all times on court. League rules may apply to not showing off brands not associated, but nothing is said about art.
With the world now accepting Crypto currency a lot more than it did a few years ago, it only makes sense for the people to cash in on the hype. Athletes and the league are no different. The Los Angeles Lakers have sold their stadium naming rights, the NBA has a huge deal with coinbase, and players are buying NFTs.
Notable athletes in the NBA who’ve publicly endorsed this culture are GSW superstar Steph Curry, and Clippers forward Paul George. Both of them endorse Rumble Kongs League, an NFT collection site. While the vets also have other business deals, sneaker endorsements and such, league young’un Tyrese Haliburton directly jumped into the NFT market.
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Crypto in many forms shall be seen in the league in the near future – the NBA already have their own line of NFTs
The NBA has created their own NFts, called the top shot moments, which can be traded like cards, but digitally. You can also own a part of it, like a stock in cases of expensive ones. A pretty neat way of getting people to buy more memorabilia, and getting them accustomed to the crypto space.
With league legends like Curry and Paul George endorsing them publicly, it is only a matter of time that this picks up pace. Not the way Tyrese did it though. NFT are basically blockchain components that cannot be duplicated, with usually an artwork as an identifier. Tyrese just took the picture and slapped it onto his shoes, which duplicated them.
Time will tell how much of an acceptance it will have world wide. But in the meantime, we have a lot of game time to look forward to.
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