New York Knicks NFT collection will soon be available for purchase. This innovation was made possible through the NBA basketball team's partnership with Sweet, a broad-scale enterprise NFT solution.
The NFT collection will be a limited edition since it is considered the first-ever 3D non-fungible tokens released by a professional sports team.
On the other hand, Sweet also confirmed that the new NFTs would feature artwork in digital game tickets. If you haven't heard about this big news, here are the games that will be highlighted in the limited NFT collection.
- 9th victory in a row after defeating the Toronto Raptors (APRIL 24)
- Win over the Celtics to close out the regular season and clinching the #4 seed for the Eastern Conference Playoffs (MAY 26)
- OT victory over the Memphis Grizzlies to kick off their 9-game win streak (APRIL 9)
- First playoff game at MSG in 8 years & largest indoor event in NYC since March 2020 (MAY 23)
- Knicks erased a 13-point halftime deficit to even the series at 1-1 (MAY 26)
Knicks NFT Collection's Major Details
On the other hand, the NFT solution agency added that a limited edition 3D NFT bundle, which features all five tickets, will be auctioned off.
"Additionally, a one-of-a-kind 3D NFT that displays all 5 tickets will be auctioned off, with the highest bidder receiving the 1-of-1 ticket plaque and mint #1 of all 5 individual ticket NFTs delivered to a preferred wallet," said the company.
Why NFT Is a Big Deal?
According to Forbes' recent report, NFTs are built using the same kind of programming used to generate cryptocurrencies, such as Bitcoin, Ethereum, and other similar brands.
However, these non-fungible tokens are quite different since their values could increase drastically depending on the artworks' demands. On the other hand, crypto has the same value as physical money. This means that one BTC will always be equivalent to one BTC.
When it comes to NFT, one digital artwork could have a higher price compared to other NFTs.
For more news updates about Knicks NFTs and other upcoming non-fungible tokens, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
Editors note: NFT has began on sale at 5:00 p.m. ET. Below, are the first 3D NFTs from a professional sports team.