NBA Creates Blockchain Advisory Committee: Report

NBA creates a blockchain advisory committee comprised of a number of billionaire owners like Mark Cuban who is the owner of the Dallas Mavericks so let’s read some more in our latest Blockchain news today.

NBA’s Top Shot business is flourishing and the sporting giant is now expanding its blockchain aspirations to a new level. The American Basketball league, the National Basketball Association-NBA creates a blockchain advisory committee that is comprised of a few billionaire owners like Mark Cuban as per a new report by Sportico. The new association members include Ted Leonsis, Steve Pagliuca, Vivek Randaive, and Ryan Sweeney. The announcement came on the back of the success and popularity of the NBA Top Shots- the popular card collectible game that is built by Dapper Labs. The card game contains player cards and short videos dubbed “highlights” which sell for 0,000 regularly.
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The data from Dappradar shows that Top Shots generated over $267 million in trading volume for the past month and $10 million in the past day. The marketplace generated about $230 million overall in sales. The reports show that the details are private but the group’s mandate is to explore other ways of integrating blockchain across the business. Cuban was quoted saying:

 “It has very little to do with Top Shot. It’s about blockchain applications, of which Flow is just one option.”

The blockchain association members include Ranadive and Cuban who were among the most public supporters of crypto and blockchain. Back in 2014, the Kings became the first major US Pro team to start accepting BTC and four years later it established a crypto mining program.
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In the meantime, NBA teams remain savvy about the use of crypto and blockchain technology as well as their related business in gaming, digital art, and betting. Many players are also investors in Dapper Labs like Aaron Gordon, Andre Iguodala, and JaVale McGee. Spencer Dinwiddie tried to tokenize his NBA contract back in 2019.

Cuban is now becoming a popular crypto evangelist as he is big on Ethereum, DeFi apps, and crypto assets in general. Recently he launched Dogecoin payments last week for all the Mavericks fans to purchase tickets and other merch. The team started accepting BTC two years ago.