New York Knicks Launch Team’s First NFT Collection – Blockchain Bitcoin News

On Tuesday, the New York Knickerbockers, in partnership with Sweet, launched the NBA team’s first-ever non-fungible token (NFT) collection. The NFTs feature limited edition digitally designed 3D game tickets made specifically for the Atlantic Division basketball team. With less than 24 hours left on the auction, the Knicks’ NFT sale has sold out a number of tickets.

3D NFT Tickets from 5 Classic New York Knicks’ Games

A number of NBA teams are getting in on blockchain technology and many American professional basketball teams have engaged in all types of crypto concepts like NFTs and partnerships aimed at elevating cryptocurrency adoption.

The NBA has its own Blockchain Advisory Committee and teams like the Portland Trail Blazers, Boston Celtics, and Cleveland Cavaliers have recently stepped into the blockchain fray. This week the New York Knicks launched its first-ever NFT collection as the professional team recently partnered with the NFT marketplace Sweet to auction the collectibles.

The Knick’s NFT collection saw five game tickets issued and so far three of the lots have sold out. Then there’s the Knick’s 2020-2021 commemorative plaque auction item. “Commemorate the Knicks’ 2020-2021 season with this one-of-a-kind 3D NFT that displays all 5 tickets,” the nyknft.com website explains. “The highest bidder receives the 1-of-1 ticket plaque and mint #1 of all 5 individual ticket NFTs delivered to a preferred wallet.”

According to the commemorative plaque auction item’s description, the five games being highlighted via digital tickets in the commemorative plaque include:

April 9: OT victory over the Memphis Grizzlies to tip off 9-game win streak
April 24: 9th victory in a row after defeating the Toronto Raptors
May 16: Beating the Boston Celtics to close out the regular season and clinching the #4 seed for the Eastern Conference Playoffs
May 23: First playoff game at MSG in 8 years & largest indoor event in NYC since March 2020
May 26: Knicks erased a 13-point halftime deficit to even the series at 1-1

The commemorative plaque auction ends at 12:00 p.m. (EDT) on Saturday, July 31, and the current highest bid by the Sweet marketplace user ‘Esteban M.’ stands at $5,565.55. The NFT tickets for the Knicks’ April 9 OT victory and the April 24 ninth consecutive victory are the only two single 3D game tickets that remain. The batch of New York Knicks’ NFTs are Ethereum-based ERC721 token-type collectibles, according to the auction website.

Non-fungible tokens have seen a lot of attention in recent times, and the hype has gotten so pricey that some projects are fractionalizing NFTs. The popular television stars and entrepreneurs Mila Kunis and Ashton Kutcher launched an animated series called “Stoner Cats” and only NFT holders can watch. However, as far as sports fans are concerned, a recent survey shows nearly three out of four people are “moderately skeptical” about the longevity of NFT investments.

What do you think about the New York Knicks NFTs? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Sweet, New York Knickerbockers, NBA,