FIBA Unveils NFT Collectibles for 2023 Basketball World Cup with Venly
The International Basketball Federation (FIBA) is collaborating with web3 service provider Venly to release a unique set of digital collectibles.
Highlighting the event's host countries – Japan, Philippines, and Indonesia – these digital treasures aim to encapsulate the spirit of the World Cup, with the launch scheduled for August 21.
Collection Details The upcoming NFT suite will feature four special categories, designed to appeal to both basketball enthusiasts and avid collectors. An inside source told crypto.news about "Fan’s Frenzy", a beginner-friendly digital token crafted to celebrate the 2023 FIBA World Cup, which takes place from August 25 to September 10, targeting passionate followers and event aficionados.
"National Pride" boasts 32 designs, each symbolizing a specific national team. The "Ultimate Courtside" collection, limited to 1,500 pieces, dives deep into basketball's rich history, while "Golden Glory" is reserved for "National Pride" holders from the winning country. All these collectibles will be up for grabs on the FIBA World Cup NFT Shopify store and minted on Polygon (MATIC) via Shopify. They can be accessed using the Venly Wallet. As the 2023 World Cup edges closer, the blend of sports, tech, and collectibles hints at a global fan engagement.
NFT Market Trends Earlier in August 2023, DappRadar reported a downturn in the NFT market despite the influx of new investments and alliances. The stats don't necessarily point to an imminent rebound, but it's noteworthy that basketball and other sports-related collectibles have garnered considerable attention before.
For instance, Top Shot NFTs, showcasing pivotal NBA game moments, raked in sales surpassing $1 billion, based on CryptoSlam data. However, the collection's originator later faced legal challenges for purportedly breaching US securities laws by offering these items as non-registered securities.
Given the ongoing crypto downturn and evolving NFT regulations, it remains to be seen if high-potential launches backed by strong collaborations can thrive in the current landscape.
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