NBAxNFT – an official NBA & NBPA NFT – is launched to celebrate the NBA playoffs. What’s interest me is the dynamic nature of the NFTs.  Your NFT rarity – other than by the players’ name – is determined by whether the player achieve the set goals (e.g. win the NBA Playoffs 2022 MVP award) or not.

Problems on Minting

All looks good – until tech issues hit the NBAxNFT.  Problems in the allow list minting forced the NBAxNFT team to airdrops NFTs, ballooning the supply from 18,000 to 30,000. This angers holders who argue that it would dilute the market value of the NFTs.

The floor price reflects the problems – dropping to sub 0.2 ETH from 0.4 ETH at the time of the writing.  Some say it’s doomed, some say it’s a buying opportunity.

See the Twitter thread for the convo going on about this – some explanations/clarifications/rants:

Yes or No?

Nevertheless, I think it’s a novelty idea that can be a boom or bust.  I took my chance and buy one.  Maybe another one upon reveal, and see whether I can get my guy Joel Embiid for cheap off paper hands.

Let’s see how it goes! As always, NFA/DYOR.

NBAxNFT unrevealed placeholder

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