Basketball billionaires form NBA blockchain use case committee。

Time:2022-01-19 Source: 907 views NFT Copy share

Mark Cuban and Vivek Ranadive headline the list of owners exploring blockchain use cases for the NBA.

Blockchain tech may soon become an integral part of the world’s largest basketball league.

According to a report from Sportico yesterday, a group of some of the wealthiest and most powerful National Basketball Association team owners are forming a committee to investigate blockchain use cases for the NBA.

Called the Blockchain Advisory Subcommittee, members include Mark Cuban, Joe Tsai, Ted Leonsis, Steve Pagliuca, Vivek Ranadive and Ryan Sweeney. According toSportico, the goal of the subcommittee is to “explore ways to integrate blockchain across the league’s business.”

Two obvious possible use cases include ticketing and collectibles.Blockchain-based ticketing has made significant stridesand now has an active userbase, and Mark cuban in particular has been vocal about his support for using blockchain to enable his team to reap profits from secondhand sales and scalping.

Likewise, blockchain-based collectibles have found an unusually snug product-market fit with the NBA’s highlights and stat-obsessed fans. Flow blockchain’s NBA Top Shot tradable highlight project hasraked in over a quarter billion dollars in sales. Additionally, the companycounts multiple NBA players as investors.

However, Cuban said in a statement to Sportico that the committee was not founded as a response to the exploding popularity of NBA Top Shot and is instead focused on broader applications of blockchain technology.

Cuban is by now a familiar name to members of the crypto community. Despitea past history of disparaging digital currencies, he’s now embraced them — especially Ethereum-native protocols and tools like nonfungible tokens. After a halfhearted NFT release, on-chain sleuths found his address and discovered the billionaireowns a number of DeFi protocol tokens.

Additionally, according to a recent tweet, his decision toaccept Dogecoin for Mavericks tickets and merchappears to have been a success:

The@dallasmavshave done more than 20,000#Dogecoinin transactions, making us the LARGEST#DOGECOINMERCHANT IN THE WORLD ! We thank all of you and can only say that if we sell another 6,556,000,000#DOGECOINworth of Mavs merch,#dogecoinwill DEFINITELY HIT $1 !!!

— Mark Cuban (@mcuban)March 6, 2021

Fans might also recognize Vivek Ranadive, the owner of the Sacramento Kings. After buying the team in 2013, he advanced a number of tech-centric and radical ideas, including playing 4-on-5 defense and setting up an app to let fans vote on the next play. When it comes to blockchain, he was also one of the first to accept crypto for tickets andset up a mining facility in the Kings’ arena.

Disclaimer : The above empty space does not represent the position of this platform. If the content of the article is not logical or has irregularities, please submit feedback and we will delete or correct it, thank you!

Top News