The Golden State Warriors, one of the most successful NBA teams, partnered with the crypto exchange FTX to become the first basketball team to create a non-fungible token collection for its supporters.
Motive behind NFT launch
The Golden State Warriors, a San Francisco-based NBA team that has won the league six times, have had a strong start to the season. It was one of the teams that qualified for the NBA Playoffs in 2022, with 53 wins and only 29 defeats. The basketball club cooperated with the crypto platform FTX to develop an NFT collection of 3,000 digital collectibles comprising 12 distinct designs to commemorate the achievement and give fans more experience.
Supporters will be able to unlock rewards such as NBA Final tickets, Warriors NBA Championship Rings, autographed memorabilia, exclusive merchandise, and more during the Playoff games (which begin on April 16). The 1-of-1 limited edition Gold Bar All-Access Pass is the collection’s crown gem. The remaining 2,999 will be accessible to the mint and randomly distributed, whereas this item can only be purchased directly through the auction.
The Warriors Community Foundation, which supports youth development and education in San Francisco, will receive a share of the proceeds from each NFT.
The Golden State Warriors have previously dabbled in the realm of non-fungible tokens. They were the first basketball team to drop an NFT collection last year, which included the franchise’s six NBA Championship rings and 10 commemorative ticket stubs. The Warriors sold their one-of-one 6x World Championship Ring for 285 ETH (about $871,000 at the time).
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