Australian Basketball Media Company’s Plan for Basketball Fans
In an effort to increase NBA fan connection and provide token holders with considerable real-world use, an Australian media company, Basketball Forever, has announced the introduction of Hoop Hounds, a nonfungible token (NFT) venture.
When discussing NFTs, people often make the “right-click save” joke because of the tokens’ apparent ineffectiveness. Newer NFT companies like the Bored Ape Yacht Club and Top Shot, which provide members with exclusive access to real-world events and things, have emerged.
NBA-focused sports media company Forever Network’s Basketball Forever subsidiary has acquired a strong social media following in Australia over the last four years and is now looking to increase its reach through NFTs.
All 8,888 “hounds” (basketball and NBA personalities depicted as animated canines) in Basketball Forever have their own unique qualities and variable rarity levels. Within six weeks, the company expects the NFTs to be ready.
Alex Sumsky, the creator of Basketball Forever, said in an interview that his company is “all in” on NFTs, stating that the technology is more than a token attached to a JPG, allowing businesses to give creative methods to promote user engagement and deliver actual usefulness for fans to be delivered. It doesn’t matter where you are in the world if you mint NFTs for the Hoop Hound franchise.
Basketball Forever’s Fan will get Tangible Collectibles, and Memories
Minting a dog with specific items on it grants the user ownership rights to those items in the real world. NBA season triggers will be linked to particular traits and objectives, and holders who meet certain criteria will be flown and accommodated to NBA games.
After then, Sumsky emphasized that the physical products and NBA experiences offered to clients are simply the beginning of the project.
This is the second step of our plan, he continued, and it will provide users access to daily pools of merchandise, collectibles, and cash rewards, all of which will be managed via a fan engagement app. V.O.A.T, Basketball Forever’s non-blockchain incarnation of the game, has seen high levels of player participation, according to Sumsky. In return for answering five questions on NBA issues, app users are given a chance to win prizes. A wide range of new possibilities is made available by switching to NFTs, according to him.
A deeper knowledge of what our fans desire in terms of engaging in their favorite sport may be gained via the use of NFTs and digital provision, but more importantly, these technologies allow us to simplify the delivery of physical items and experiences.”
According to NonFungible, worldwide NFT transaction value will reach $17 billion in 2021, up from $82.5 million in 2020. NFTs are already gaining broad attention. Additionally, Collins Dictionary named “NFT” the word of the year for 2021.