Nick Chong · 4 days ago · 2 min read · Insights via Grayscale Investments
U.S. › Adoption
The NBA and the company behind CryptoKitties launching blockchain-based collectibles
On Wednesday, the NBA and the firm behind CryptoKitties announced that they will be launching a blockchain-based collectibles platform, dubbed NBA Top Shot.
Dapper Labs, the firm behind CryptoKitties, is working with the NBA to bring unique digital video clips in the form of digital tokens inscribed on a blockchain.
The idea is that instead of having physical collectible cards, fans will have the opportunity to own a limited number of tokens containing the highlights of some of the most commemorated in-game moments from the NBA season. Each token will be differentiated by a distinct digital market that will allow the owners to participate in fantasy league games and compete against each other.
“The community that will bring about a mainstream moment for blockchain is the NBA,” said Dapper Labs CEO Roham Gharegozlou. “We want to give basketball fans something that they have never seen before, but also something that is immediately familiar and they want to actually play with. It will be a new type of digital collection experience.”
Along the same lines, Josh Goodstadt, Executive VP of Licensing for THINK450, commented:
“NBA Top Shot is an entirely new way for fans to connect with their favorite athletes. We believe blockchain technology creates a truly unique product that fans can collect, manage and engage within a fun environment, and we are excited to partner with Dapper Labs to introduce these groundbreaking digital assets to the NBA community.”
Although the new NBA collectibles platform will be going live later this year, it remains to be seen whether the project will be launched in an existing blockchain or if they will create one of their own. In late 2017, Dapper Labs experienced many issues after they launched their own collectibles platform, CryptoKitties, clogging the entire Ethereum network due to the number of transactions related to the game.
As more details come to light, fans can sign up using a landing page that has been created to provide exclusive access and announcements regarding NBA Top Shot.