With the widespread adoption of NFTs in different industries worldwide, a new era of crypto adoption has begun. Not long ago, NFTs were only used by digital artists and big media representatives companies. But now we see new use cases every day, which is not surprising in the least considering the several new opportunities NFT brings to the market.
Pertaining to this trend, The Golden State Warriors joined the crypto world, becoming the first professional sports team with an NFT collection. The Golden State Warriors Legacy NFT Collection is a licensed digital collection that memorializes the team’s most iconic games in the franchise’s history. Also, a portion of the revenue generated from the sale of this NFT collection will benefit the Warriors Community Foundation. The foundation has been working to uplift society and has already granted over $22 million in favor of Bay Area educational equity since its beginning in 2012.
The Golden State Warriors Legacy NFT Collection
This collection commemorates Golden State Warriors’ impressive history and will also include digital collectibles from the past and future games, such as custom championship rings.
This auction that ends on 2nd May only accepts Ethereum and will act as a milestone for both the sports and crypto industry marking the dawn of a new and exciting era.
“We see NFTs and digitization of our business as a mainstay to engage our fans around the world,” said Brandon Schneider, the chief revenue officer of the Warriors. “As an organization, we are constantly evaluating ways to be creative and innovate, and launching this special NFT collection is the latest evolution for us in that space.
He further added, “Additionally, it is important to us that proceeds from this initiative will support the Warriors Community Foundation at a critical time in our community’s journey to rebuild educational practices during the pandemic.”
NFTs – The Future
Apart from the Golden State Warriors, NFT also saw exponential growth due to NBA Top Shot which allows fans to purchase, trade, and sell official-licensed video highlights of all the games that have happened in the past. This event generated over $500 Million in sales.
Several athletes and sportspersons who have shown a great interest in NFTs have launched their own collection. With names such as Tom Brady, Super Bowl-winning quarterback, his teammate Rob Gronkowski, and Francis Ngannou, Ultimate Fighting Championship (UFC) star supporting the cause, NFTs popularity is bound to rise.