FIRST PROFESSIONAL SPORTS TEAM LAUNCHES NFT COLLECTION
"This is the wave of the future," Warriors President Brandon Schneider said, "So we've been studying what the best way for us to get involved and create something for our fans is. NFTs have been around for years, but they've really become more mainstream and popular this year. The inflection point for us was really just watching NBA Top Shot start to explode."
SPORTS CARDS AND NFTS
With their launch of NFTs on the OpenSea platform earlier this week, the Golden State Warriors have made history, becoming the first professional sports team to break into this market. While physical basketball card packs and basketball hobby boxes are still incredibly popular, the Warriors wanted to break into a new segment of this booming market.
Since its partnership with Dapper Labs, the NBA has seen a huge return on investment when it comes to buying, selling, and trading numbered-versions of officially licensed video highlights. Thus far, the NBA has pulled in more than $500 million in sales from Top Shot.
FROM BASKETBALL CARD PACKS TO DIGITAL TOKENS
So, exactly how did the Warriors move from basketball card packs into the NFT market? It began with a three-month study of the market so they could determine how to best design a collection that would be exciting for their fans. The end result? The Warriors opted to create digital championship rings for each of the team's six NBA titles as well as digital ticket stubs from some of their most iconic games, such as their victory over the Memphis Grizzlies on April 13, 2016. Having trouble recalling that iconic game? With their defeat over the Grizzlies in this game, the Warriors broke the all-time NBA single-season record for total wins, achieving their 73rd win as a team.
In the end, whether you opt for physical basketball card packs or NFTs, you’re making a good investment.
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