National Basketball Association to Invest in Blockchain

National Basketball Association to Invest in Blockchain

The basketball league, which is the world largest is intending on making the Blockchain tech as its integral part.   As reported by Sportico , some men of affluence and power in the National Basketball Association team owners are intending to investigate the use of Blockchain in NBA by forming a committee to do so.

Flowing from above, members of the committee are men of repute in NBA such as Ryan Sweeney, Steve Pagliuca, ted Leonsis, Joe Tsai, Mark Cuban and the committee us referred to as the Blockchain Advisory Subcommittee. The committee is to identify mechanisms to engraft Blockchain in the NBA League’s business’

There are two areas that the NBA league intends to use Blockchain and these are collectibles and ticketing. The  use of Blockchain has shown to be quite distinctive and the userbase is quite high and active. However, one of the committee members in the of Mark Cuban has been indefatigable in his support for blockchain ticketing and he opined that such innovation  will aid his team profit from already used scalping and sales .

Notably, with the highlights of NBA  and fans that are obsessed with stat, Blockchain has found a productive market in NBA. Over d quarter billion sales has been sold in the flw  blockchain’s NBA Top Shot tradable and  myriads of NBA players have invested in Blockchain.

It has been said by Cuban to Sportico, that the NBA committee was formed to see how blockchain can be effectively utilized in the activities of NBA league and not as regards to the erroneous belief that it was based on the snowballing popularity if NBA top shots.

Among the committee members , Cuban is the person that is known the most in the crypto community and even with the disparaging history of cyrptocurrencies, he has invested oin it and which his area of investment are non-fungible token and Ethereum native protocol.

It has been discovered that the billionaire, Cuban has a Defi protocol token after the release of NFT, on-chain sleuths found his address.

 

 

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