- The NBA’s Golden State Warriors are getting into the world of digital collectibles with the launch of an NFT collection.
- The NBA team said Tuesday it is the first time a professional sports team is launching a digital collection.
- Items are up for auctions that will end in early May.
- See more stories on Insider’s business page.
The Golden State Warriors are bouncing into the digital images market with the launch of an NFT collection, with the basketball team saying Tuesday it is the first professional sports team to make such a move.
The Warriors said its officially licensed collection of non-fungible tokens commemorates its six championship wins with the National Basketball Association and highlights the franchise’s “most iconic games”.
The California-based team will become a part of the estimated $250 million market for non-fungible tokens, which are unique digital assets such as videos and images stored on blockchain technology.
The Warriors said its Championship Ring NFTs collection will include a reproduction of rings it won starting in 1947. The ring collection and its Commemorative Ticket Stub NFTs will be paired with live experiences, including the presentation of a custom championship ring during a Warriors game.
“The digital collectibles excitement is palpable,” Brandon Schneider, the Warriors’ chief revenue officer, said in a statement. “We see NFTs and digitization of our business as a mainstay to engage our fans around the world.”
The team’s full collection was listed on GSWNFT.com and an auction for the main collection will end on May 1, followed by the May 2 end of auctions for other items. A portion of auction proceeds will go to the Warriors Community Foundation.
The auctions require an account on digital goods marketplace OpenSea and only the cryptocurrency ethereum will be accepted.
Last month, Dapper Labs, a startup behind virtual trading-card platform NBA Top Shot, closed a $305 million funding round.