May 17, 2022

Basketball billionaires form NBA blockchain use case committee

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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 to Sportico, 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 strides and 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 Topshot tradable highlight project has raked in over a quarter billion in sales. Additionally, the company counts multiple NBA Title: Basketball billionaires form NBA blockchain use case committee
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Published Date: Sat, 06 Mar 2021 19:26:30 +0000