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Saturday, September 25, 2021

Sacramento Kings Launch NFT Collection with Physical and Digital Items

This post was originally published on beincrypto

The Sacramento Kings of the National Basketball Association (NBA) has announced its first non-fungible token (NFT) collection for the franchise.

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The NBA has been one of the hottest places for NFTs over the past year, from NBA Top Shot to the various players releasing NFT collections. The Sacramento Kings has been a major part of the NBA’s adoption of digital currencies over the last few years.

Back in 2014, the Kings became the first team in the NBA to accept bitcoin as a form of payment for ticket sales. The franchise also accepts bitcoin as payment for merchandise in its fan store. In 2019, Sacramento teamed with BlockParty to release a blockchain-driven predictive gaming app that gave the Kings its own token — the Kings Tokens.

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In 2021, the Kings became the first, and still only, NBA team to offer salary payments in bitcoin to both players and team employees. The individuals can choose any desired portion of their salary to be converted immediately into BTC.

Now, the franchise is making the next logical step and releasing an NFT collection.

Kings NFT collection commemorates their inaugural season

The Sacramento Kings are a relatively young franchise, debuting back in 1985. Its debut NFT collection will honor that first season. Dubbed the “1985 Inaugural Pin Collection,” it features 85 unique NFTs that portray events of the team’s initial season in the NBA. The collection will be listed on OpenSea and contains 84 NFTs available for purchase and a 1-of-1 limited edition piece that will go up for auction starting on July 22.

According to the King’s owner and chairman, Vivek Ranadivé, “This NFT blends the digital and real-world, signifying an iconic and memorable moment in our franchise’s history.”

The prize of the collection is the “1985 Inaugural Season Opening Night Pin – Rare Edition” and is the only piece up for auction. The listing states the pin is the rarest NFT in the collection and will allow the owner to “make their mark on Golden 1 Center, the home of the Sacramento Kings.” The winning bidder can have it customized with a name and number on the banner which will be displayed not only on the NFT but also on the team’s website and inside the actual arena. The winner will also be sent a physical replica of the pin, a replica of the actual 1985 season pin, along with two courtside tickets to the opening night of the 2021-22 season. The auction will run until July 26.

The remainder of the NFTs are numbered 1-84 and will be on sale for $500 each starting on July 22. Much like the rare version, the 84 “Special Edition” pins will also come with a physical copy and a pair of tickets to opening night, albeit not courtside, with the chance to win VIP club access during the game.

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Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

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