FIBA debuts Inaugural NFT collection on Polygon network

The digital memorabilia, centered around the FIBA 2023 World Cup, will be constructed on the Polygon Network.

In a move reminiscent of FIFA's foray into blockchain, FIBA, the International Basketball Federation, has unveiled its maiden NFT project.

Working in partnership with Venly, a blockchain technology facilitator, the NFT initiative will deliver exclusive privileges and experiences to devoted fans. Venly, recognized for its commitment to enhancing user experience and accessibility in both Web3 and Web2 domains, is set to play a crucial role in this endeavor.

The FIBA NFT collection is partitioned into four distinctive tiers, each offering unique perks to their holders. The tiers—Fan's Frenzy, National Pride, Ultimate Courtside, and Golden Glory—promise a range of incentives spanning match tickets, merchandise discounts, signed jerseys, and even an opportunity to win a luxury watch.

Scheduled to launch in the Philippines, Japan, and Indonesia on August 25, the FIBA 2023 World Cup will mark a momentous leap for the international sporting event, as it ventures into the realm of blockchain and NFTs. Notably, FIBA has chosen to facilitate the purchase of NFTs using Euro currency.

Tim Dierckxsens, the CEO and co-founder of Venly, stated:

“This collaboration represents an exciting convergence of sports and cutting-edge technology, aligning seamlessly with our mission to empower brands and platforms through blockchain.

By creating a unique space for fans to celebrate their shared passion for basketball, we're not only making blockchain accessible but also changing how fans engage with the sport.”

Frank Leenders, FIBA's media and marketing services director general, expressed his satisfaction with the collaboration, saying:

“Having these collectible digital assets emphasizes how FIBA is embracing innovation and technology. Not only will they bring opportunities for fans globally to access new products, but will also help further grow the interest around the FIBA Basketball World Cup 2023, which tips off on August 25.”

The digital NFT collectibles offer fans an unparalleled avenue to celebrate their passion while fostering brand-new engagement dynamics.

The partnership underscores FIBA's stride towards technological progression, while also enriching the world of basketball enthusiasts with an innovative dimension. 

FIBA, established in 1932, governs global basketball with 212 member federations. It promotes basketball's growth through international competitions, rules, and equipment specifications, recognized as the sole authority by the International Olympic Committee (IOC).

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Written by Silvia Pavlof

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