The NBA teams up with Sorare to bring the first ever NFT Fantasy Basketball game by DailyCoin
The NBA teams up with Sorare to bring the first ever NFT Fantasy Basketball gameFrench blockchain startup Sorare partnered with the NBA and the NBA Players’ Association to launch the first-of-its-kind NFT fantasy basketball game. While digital card fantasy games in sports are nothing new, digital cards powered by NFTs take fantasy sports games to a whole new level.
Get ready to #OwnYourGame. The @NBA and @TheNBPA join @Sorare for the first officially licensed NFT Fantasy Basketball Game, launching this fall! Sign up today at pic.twitter.com/sZ3RI3zTb9
— NBA (@NBA) September 7, 2022
Bringing fans closer to the action through NFTs
Sorare NFT revolutionized sports card games with Sorare Football. The game had a lot of success, while the players available on OpenSea are affordable for everyone. For example, Messiah is available on the secondary market for 0.0048 (ETH), which converts to $7.73.
Also, the blockchain startup signed an agreement with Major League Baseball (MLB) on May 12, 2022. The venture into sports other than football has proven to be fruitful for Sorare. Currently, the NFT platform has around 2 million users worldwide. The company also acquired a Major League Soccer (MLS) license, although the sport is much less popular in the United States than in Europe.
Now, as the company turns its attention to basketball, Nicholas Julia, co-founder and CEO of Sorare NFT, explains the reasoning behind the move: “Basketball is one of the most popular sports in the world and we are excited to bring fans even closer to their favorite teams and – the players through Sorare: NBA.”
“wen NBA?” Soon. pic.twitter.com/JluleiFuGf
— Sorare (@Sorare) September 7, 2022
NBA goes deeper into Web3
Sorare: The NBA Game will be launched to celebrate the new NBA season, which starts on October 18, 2022. Also, Sorare: The NBA Game will use the Ethereum (ETH) blockchain for the game engine, but the cooperation with ZK Rollup will reduce the transaction fees, and players can switch NFT cards faster.
Also, the purchased NFT cards with player properties can be stored in a personal NFT collection or added to a lineup. In the basketball fantasy league, players will compete for exclusive prizes provided by Sorare. Ultimately, the new NFT card game will likely be a hit in the US, where basketball is very popular.
Previously, the NBA partnered with TopShot to bring an NFT compilation full of highlights from the association’s history. TopShot’s NFT collection has raised huge revenue, as the legendary Lebron James NFT card sold for $208,000, setting a new milestone for the teamwork between basketball and blockchain.
Whew. A LeBron James @nba_topshot moment just sold for $208,000! It’s the biggest Top Shot sale ever (by far). https://t.co/Y3OQx7nl1m
— Alex Kennedy (@AlexKennedyNBA) February 22, 2021
On the other side
- The joint effort between crypto and sports seems to be paying off, but the overall NFT market is plummeting. Also, the most expensive NFT collection of all time, Bored Apes, has over 200 NFTs facing liquidation due to the BendDAO incident.
Why you should care
Partnerships between blockchain companies and sports clubs are expected to generate at least $2 billion in revenue by 2022.
Learn about FIFA+, the new NFT platform from FIFA, launching in celebration of the upcoming World Cup
Read about Magic Johnson’s career highlight NFT collection at NBA TopShot
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