How Mavericks are leaders in NFT Sports Integration

by James · July 8, 2022

Submitted by: Bea Alaine Collins

Although a good number of NFT assets experienced a violent crash not so long ago, a number of institutions are moving forward with their plans to expand their use.

And outside of art, sports teams and leagues have become major players in space.

The NBA is no exception, with some of the best players around investing significantly in them and other blockchain-based digital assets.

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So what is it about Mavs that justifies the headline?

Early adopters: Leading on digital assets

Before non-fungible tokens became the hot new thing, it was the cryptocurrency boom. And here the Mavericks were already in front of the herd. While players like current Mavericks (then Nets) star Spencer Dinwiddie were just starting to move more seriously into space in 2019 – Dinwiddie accepted Bitcoin payments and even moved his contract to the blockchain – Mavericks added cryptocurrencies to the list of ticket purchase options. Bitcoin may already have been a decade old at the time, but it had not made much progress in sports, so it took people like Mark Cuban to get the ball rolling.

More recently, Cuban announced one collaboration with the brokerage house Voyager Digital, referring to his belief that more education about the underlying technology needs to be disseminated. And while not strictly necessary in NFT trading, crypto is an important sister technology that popularized the concept of the modern digital resource.

NFT integration

Instead of resting on its laurels, Mavs moved seamlessly into NFTs as soon as it became clear that they remained a concept. And in the typical Cuban way, instead of experimenting, he went big.

Ordinary personal game participants will be more than aware of the offer of memory NFT created on the Polygon network in collaboration with Ticketmaster and NFT.kred, of which 20,000 are marked per game to give those who manage to get down to Victory Parker. Although the primary stated intention is that they should be memorials that really prove that you were there when some epic basketball went down, rather than valuable assets like the famous Bored Apes, it has not stopped the team from creating their own trading platform on which for Finding them goes for anything from a fist dollar to thousands. In the process, the NFTs probably also encourage personal attendance following the pandemic restrictions.

In addition to those characterized by individual games, there are now tokens made for cute pixelated versions of famous players and even a series of custom designs based on fan favorite Mavrello Ballovic. Special was also handed out then the Dallas legend Dirk Nowitzki hung up his shirt. Cuban has pointed out that given the popularity of NFTs with profile picture, buying them allows fans to celebrate their fandom in an online room.

Where next?

It has obviously not escaped Cuban’s attention that tickets to some matches in themselves are quite valuable. That is why he has discussed the idea of make tickets themselves available as NFTs. Ticket costs can be collected through resale, Cuban points out.

At least two dozen NBA teams have collaborated with Socios fan tokens In the past, a platform with interchangeable currency-like tokens each affiliated with a sports team or company. Fan tokens are used on the official app to access things like special editions and NFTs or take part in various team-related decisions and activities.

The first association’s team to join the platform about a year ago was the 76ers, but there has been some speculation as to whether the rest will sign up. For now, however, the only “fan tokens” that Mavs makes available are the NFTs.