The NBA’s Golden State Warriors are jumping aboard the non-fungible-token party, saying Tuesday that they are the first pro sports team to launch NFTs.
“The officially licensed digital collection -- Golden State Warriors Legacy NFT Collection -- commemorates the team’s six NBA championships and includes digital collectibles of their most iconic games in franchise history,” the team said.
The auction began at gswnft.com on Tuesday at 9 a.m. ET and ends Sunday at 11 pm ET.
The loot includes Warriors championship ring NFTs and commemorative ticket stub NFTs, which were designed by artist Black Madre. They will be paired with live experiences, including participation in a Warrior-for-a-Day experience and a custom championship ring presentation during a future game, the team said.
A portion of all proceeds from the auction will benefit the Warriors Community Foundation.
Speculative mania has gripped the NFT market -- just like the surge in demand for bitcoin, special purpose acquisition companies (or SPACs) and risky stocks. An NFT of an artist’s collage went for $69 million last month.
Some experts view NFTs as the next big thing, while others see them as a dangerous fad. The danger is that buyers will blow a lot of money on items with questionable long-term value.
Given the central position of athletes in our society, it’s no surprise that they have played a major supporting role in the bitcoin, SPAC and NFT happenings.
Sean Culkin, a tight end for the NFL's Kansas City Chiefs, said Monday that he would take his 2021 salary in bitcoin.