Although many NFTs have crashed in 2022, a number of sports leagues are going ahead with their plans to expand the usage of the tokens. The NBA is no exception to that, with some of the finest players around investing substantially in them and other blockchain-based digital assets.
The Mavericks were Early Crypto Adopters
Before non-fungible tokens (NFTs) became the hot new thing, there was the cryptocurrency boom. The Mavericks were already ahead of the trend. While players like current Mavericks (then Nets) star Spencer Dinwiddie were just starting to move more seriously into the space in 2019 — Dinwiddie accepted Bitcoin payments and even moved his contract to the blockchain — the Mavericks added cryptocurrencies to the list of options for ticket purchases. Bitcoin may have already been a decade old at that point, but it hadn’t made a lot of headway in sports, so it took people like Mark Cuban to get the ball rolling.
Partnership with Voyager Digital
In October, Cuban announced a five-year partnership with brokerage Voyager Digital, citing his belief that more education on the underlying tech needs to spread. The brokerage was promoted to the Mavs fan base. While not strictly necessary in NFT trading, crypto is an important sister technology that popularized the concept of the modern digital asset.
Mavs move into Commemorative NFTs