A number of National Basketball Association (NBA) team owners have formed an NBA blockchain advisory board for the American professional basketball league. The advisory board is made up of well-known billionaires and blockchain advocates who own teams Nets, Mavs, Wizards, Celtics, Kings and Jazz.
Billionaire NBA team owners call a blockchain advisory committee for the National Basketball Association
The American professional basketball league NBA could integrate blockchain and crypto solutions into the industry in the near future. Sportico.com contributors Scott Soshnick and Eben Novy-Williams discussed the new NBA blockchain committee with one of the members, Mark Cuban, owner of Dallas Mavericks.
Soshnick and Novy-Williams also mentioned the popular flow blockchain application supported by Dapper Labs that produces NFF assets (Non-Fungible Token) “NBA Top Shot”. The Sportico writers say NBA top shot sales have been very productive, bringing in $ 300 million in sales in resale markets to date.
“It has very little to do with Top Shot,” Cuban told the publication via email. “It’s about blockchain applications, of which flow is just one option.” The members of the group were noted by “several people familiar with the plans,” the Sportico reporters noted.
Apparent members of the NBA Blockchain Committee include Mark Cuban, Joe Tsai, Ted Leonsis, Steve Pagliuca, Vivek Ranadive, and Ryan Sweeney. “The NBA declined to comment,” Soshnick and Novy-Williams emphasized the subject.
Many of the members of the NBA Blockchain Advisory Committee are longtime Crypto supporters
Just recently, Cuban allowed the Dallas Mavericks basketball club to accept Dogecoin (DOGE) through Bitpay. Vivek Ranadive, the owner of the Sacramento Kings, has long been a supporter of the cryptocurrency and blockchain. The Sacramento Kings Basketball Club has accepted Bitcoin (BTC) since 2014.
Boston Celtics co-owner Steve Pagliuca is the co-chair of Bain Capital, a venture capital unit that has invested millions in blockchain projects over the years.
The solutions and innovations that cryptocurrencies and blockchain could bring to the NBA’s table are unfathomable. Blockchain could be used for ticketing solutions, sweepstakes and giveaways, NFT sports collectibles (Non-Fungible Token), digitally signed memorabilia of a fan’s favorite basketball player, as well as for the immutable withdrawal of numbers and jerseys.
Not to mention, cryptocurrencies can be used to pay for all these types of items alongside all goods, food, and beverages, and anything else the NBA sells could be sold for crypto assets.
What do you think of the establishment of the NBA Blockchain Advisory Committee? Let us know what you think on this matter in the comments section below.
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