What are the NBA and the stars doing in crypto?

There has been some big news in the NBA recently. Crypto.com has entered into a 20-year contract with AEG, owner and co-owner of the Staples Center in Los Angeles, which has been renamed Staples Center for the Crypto.com Arena.

In August 2020, the NBA Top Shot took a hit after its public beta, once becoming one of the most popular NFTs out there. Many groups, such as the Charlotte Hornets, have also joined or worked in an attempt to develop crypto-related activities such as NFTs.

The Mavericks also formed before and became the first sports team to adopt Dogecoin as a form of payment, and the Warriors also digitized for a ring in their team's history in NFT mode after five years of glory.

Additionally, many athletes represented by Dinwiddie have invested in cryptocurrencies or joined new technologies such as DeFi and NFT. “Death” Durant also made a lot of money investing early in Coinbase. Investments are still killing it. liter.

From leagues to teams and multiplayer, the NBA, an athletic sport that seems to have nothing to do with blockchain, is actively involved in investing in the cryptocurrency ecology, offering sportswear a vision of the technology behind its lights.

In fact, since the beginning of this year, collaboration with NBA organizations, stars, digital assets, and blockchain technology companies has grown exponentially.

To date, the NBA has partnered with four cryptocurrency companies, including FTX, Coinbasa, Crypto.com, and NYDIG.

Star players like Curry, Durant, and McGrady have serially invested or announced in NFTs, and Wizards player Dinwiddie began accepting bitcoin as a fundraiser as early as 2017. He announced a cryptocurrency app. Calaxy application was developed this year. $7.5 million completed.

The NBA, the best sports league in the world, has won the place of cryptocurrency ahead of other sports leagues. He hopes that more and more crypto providers will appear at various sporting events around the world.

On the other hand, players can also spend money on their own NFTs. For example, in August of this year, he spent $180,000 to buy NBA Warriors head Curry a boring red image, which caused a stir at home at the time.

Curry has over 15 million Twitter followers, which is more than the strongest "people" in the crypto world.

Last I heard, former Houston Rockets NBA star McGrady has also joined the NFT ranks. The McGrady Moment NFT, published by Binance NFT and the Arche Network, was announced on the 19th of this month.

In this regard, McGrady told Weibo, "It was a sacred decision for me to make NFT important for the McGrady era and my baseball career."

The NBA is enjoying the "digital gold rush" this year. Meanwhile, a thriving NFT ecosystem has enabled additional revenue, and players can directly buy or quit NFTs.