The Golden State Warriors announced Tuesday they've become the first sports team to launch an officially licensed non-fungible token (NFT) collection with an auction that runs through this weekend.
A portion of the proceeds from the Golden State Warriors Legacy NFT Collection will benefit the Warriors Community Foundation. The standard auctions last through Saturday at 11 p.m. ET, while the 1-of-1 auctions go until Sunday at 11 p.m. ET.
Darren Rovell @darrenrovell
JUST IN: @warriors become the first team to unveil an NFT collection, now live at https://t.co/7CxKHtO8RA. The winning bidder on the 1-of-1, that combines the team’s champ rings, will also receive a 1/1 ring made by Jason of Beverly Hills in an on court ceremony. https://t.co/H3GJ138uSc
The NBA franchise becomes the latest member of the sports community to explore the newfound popularity of NFTs. The digital assets have become an offshoot of the sports memorabilia boom that's occurred throughout the coronavirus pandemic.
Many individual athletes have released NFTs, but the Warriors are the first team to join the growing trend. Brandon Schneider, the team's chief revenue officer, said:
"The digital collectibles excitement is palpable. We see NFTs and digitization of our business as a mainstay to engage our fans around the world. As an organization, we are constantly evaluating ways to be creative and innovate and launching this special NFT Collection is the latest evolution for us in that space. Additionally, it is important to us that proceeds from this initiative will support the Warriors Community Foundation at a critical time in our community's journey to rebuild educational practices during the pandemic."
Golden State's offering includes two subsets: Warriors Championship Ring NFTs and the Commemorative Ticket Stub NFTs, both designed by artist Black Madre.
Here are the championship ring NFTs available:
- 1947 NBA Championship celebrating the first championship in league history (25 editions)
- 1956 NBA Championship (25 editions)
- 1975 NBA Championship (25 editions)
- 2015 NBA Championship (50 editions)
- 2017 NBA Championship (50 editions)
- 2018 NBA Championship (50 editions)
- 1-of-1 Warriors Six-Time NBA Champion Ring
And here are the ticket stub NFTs:
- The First Ever NBA Championship (Game 5)—Warriors vs. Stags; April 22, 1947
- 1956 NBA Championship (NBA Finals Game 5)—Warriors vs. Pistons; April 7, 1956
- 1975 NBA Championship (Game 4)—Warriors vs. Bullets; May 25, 1975
- We Believe First Round Upset (NBA Playoffs First Round Game 6)—Warriors vs. Mavericks; May 3, 2007
- 2015 NBA Championship (NBA Finals Game 6)—Warriors vs. Cavaliers; June 16, 2015
- Single-Season NBA Wins Record (73)—Warriors vs. Grizzlies, April 13; 2016
- 2017 NBA Championship (NBA Finals Game 5)—Warriors vs. Cavaliers; June 12, 2017
- 2018 NBA Championship (NBA Finals Game 4)—Warriors vs. Cavaliers; June 8, 2018
- Last Regular-Season Game at Oracle Arena—Warriors vs. Clippers; April 7, 2019
- First Game at Chase Center—Warriors vs. Clippers; October 24, 2019
- 1-of-1 Warriors Golden Ticket NFT—Commemorating franchise history over the last 75 years
The winners of the special 1-of-1 releases will also receive a special perk, either a personalized championship ring or a Warrior-for-a-Day experience.
All items will be auctioned via Ethereum, an open-source blockchain that includes the digital cryptocurrency Ether, with no option for purchase through credit card.
The Warriors Community Foundation was established in 2012 to support "education and youth development to promote thriving students, schools and communities."