The International Basketball Federation (FIBA) has partnered with Venly, a web3 SaaS platform, to release a unique series of digital collectibles.
These digital souvenirs, showcasing Japan, the Philippines, and Indonesia, will debut on August 21 to capture the event’s spirit. According to a spokesperson in an interview, the non-fungible token (NFT) collection will offer four options tailored to basketball enthusiasts and collectors.
“Fan’s Frenzy” is an affordable digital souvenir celebrating the FIBA World Cup 2023, aimed at die-hard fans and collectors from August 25 to September 10.
“National Pride” consists of 32 designs, each tied to a different national team. “Ultimate Courtside,” limited to 1,500 pieces, delves into basketball’s history, while “Golden Glory” is for owners of the “National Pride” digital memento from the winning nation.
These collectibles will be available on the FIBA World Cup NFT Shopify website and accessed via the Shopify app and Venly Wallet on the Polygon (MATIC) network.
This fusion of sports, technology, and memorabilia offers a unique experience for fans worldwide as the 2023 Basketball World Cup approaches.
DappRadar, a news portal for decentralized applications (dapps), noted in early August 2023 that the NFT market was experiencing a downturn despite new investments and partnerships.
While market data doesn’t guarantee a positive shift, sports collectibles like basketball NFTs have traditionally garnered significant attention. For instance, CryptoSlam data shows that Top Shot NFTs, digital video clips featuring NBA game highlights, generated over $1 billion in sales.
However, legal disputes have arisen over the sale of these items as unregistered securities, emphasizing the uncertainty surrounding NFT regulations.
Given the challenges of the crypto market and NFT sector, whether a promising project with strong partnerships can thrive is still being determined, especially amid a crypto winter and regulatory ambiguity.
