KEY POINTS
USA Basketball, the non-profit organization governing basketball in the United States, is marking its 50th anniversary with a non-fungible token (NFT) project.
This initiative is a collaboration with Coinbase and American artist Daniel Arsham, featuring an animated basketball NFT.
This NFT is dynamic, changing over time to symbolize the multiple seasons and the continuous effort needed to build a championship team.
Collectors will have the opportunity to mint each updated version of the NFT as it evolves. The goal is to collect all versions.
The project started in mid-July and has now entered its third season, Spring, with the final season, Summer, set to unlock in three days.
The initiative will conclude on August 5, 2024. Additionally, one collector will have the chance to win a signed artwork by Daniel Arsham, inspired by the NFT.
The use of NFTs in basketball is not new. In 2022, the NBA announced a multi-year partnership with Sorare to launch an NFT-based fantasy basketball game. Last year, the International Basketball Federation (FIBA) collaborated with Venly to release a series of NFTs to commemorate the FIBA World Cup in 2023.
