The NBA’s new Ethereum-based NFT collection, “Association,” is themed on the 2022 NBA playoffs that went on sale on April 20. The tokens show popular players from 16 different teams, and their looks will alter based on how well each player performs in the playoffs. The NBA, on the other hand, stated that minting for the collection has been halted due to issues with the whitelist, which resulted in the collection selling out early.
According to BlockSec, a blockchain security organisation, the collection includes a significant vulnerability that allows attackers to mint NFTs without paying any tokens.
BlockSec remarked that Association’s NFT contract fails to verify that a signature may only be used once by a single user. As a result of the error, attackers can reuse a genuine user’s signature and generate tokens for themselves. This might explain why the NBA stated that their whitelist had sold out early as a result of the vulnerability being exploited.
According to the blockchain security firm, the contract did not include any measures to ensure that a single approved signature could only be used once. It went on to say that such a security need is “basic knowledge”. The collection is a blind mint, which means no one will know which player will be minted until the revelation on Friday. There are 18000 tokens available, with roughly 16,000 seeming to be created.
The NBA’s latest collection is far from its first attempt at NFTs. The NBA has partnered with leading NFT participant Dapper Labs to launch its own NFT marketplace, NBA Top Shot. However, Association is the NBA’s first venture outside of its collaboration with Dapper, as the league seeks to profit from the rapidly expanding popularity of sports-themed NFTs and digital collectibles. According to statistics, the Top Shot collection has sold approximately $1 billion in total.
