Ahead Of The 2023 Basketball World Cup, FIBA Collaborates With Venly To Launch NFT

FIBA is preparing to launch an NFT for a basketball world cup memento. (Photo; Doc. The Sports Digest)

JAKARTA - The International Basketball Federation (FIBA) has announced its strategic partnership with the SaaS web3 platform, Venly, to introduce a series of NFT digital collections. Welcoming Japan, the Philippines and Indonesia host countries, this collection of digital mementos has been created to reflect the essence of the event and will officially launch it on August 21.

This collection includes non-fungible tokens (NFTs) consisting of four different offers. Each offer is designed to meet the interests of basketball fans and collectors.

One of them is "Fan's Frenzy," a novice-level digital memento dedicated to commemorating the 2023 FIBA World Cup. The prestigious tournament will take place from August 25 to September 10, and this collection is specially designed for fans and collectors excited about the event.

Furthermore, there is a collection of "National Prides" featuring 32 unique designs, each related to the participating national team. Meanwhile, the "Ultimate Courtside" collection will come in a limited number, namely 1,500 units, and will focus on the long history of basketball.

"Golden Glory" is a collection aimed at owners of digital memories of "National Pride" from countries that make brilliant achievements.

These collections will be available at the NFT Shopify FIBA World Cup store. All of these digital items are published on the Polygon (MATIC) network through the Shopify app, and can be accessed via the Venly Wallet. Along with the 2023 Basketball World Cup, the combination between sports, blockchain technology, and digital collections promises great experience for fans around the world.

However, it should be noted that the NFT market is facing recent challenges. In the first few weeks of August 2023, DappRadar, a platform that monitors decentralized applications (dapps), reported a decline in the NFT market, despite new investments and partnerships entering the industry.

However, interest in NFTs related to sports, especially basketball, remains significant. An example is NFT Top Shot, which recorded historic moments in NBA matches and has recorded more than 1 billion sales according to CryptoSlam.