The NBA blockchain advisory committee comprises a number of National Basketball Association teams based in America. The idea was to leverage ticketing solutions, raffles etc.
The association consisted of billionaires who owned teams. The move was to incorporate blockchain and crypto solutions into the industry.
As at the time of writing this news, the following information was gathered;
A blockchain advisory committee has been formed by the National Basketball Association (NBA).
The committee consisted of billionaires who owned teams like the Nets, Mavs, Wizards, Celtics, Kings and Jazz.
The aim was to incorporate blockchain and crypto solutions into the industry in the near future.
An interaction between sportico.com and one of the committee members Mark Cuban owner of Dallas Maverick, raised issues on the progress made on the introduction of blockchain into the NBA dialoguing that it is not only a shot rather a flow which is just one option.
The following were plausible members of the NBA blockchain Committee; Mark Cuban, Jeo Tsui, Ted Leonsis, Steve Pagliuca, Vivek Ranadive and Ryan Sweeney.
Currently Dallas Mavericks basketball club has accepted dogecoin (DOGE) through bitpay.
Others who are active crypto investors include; Steve Pagliuca the co- owner of Boston Celtic and also co-chairman of Bain Capital, a venture capital unit that has invested millions into blockchain projects over the years. Vivek Ranadive, the owner of Sacramento Kings has been a Cryptocurrency and blockchain supporter for a long time. It has been on record that since 2014, the Sacramento Kings has been using bitcoin (BTC).
Furthermore, the solutions and innovations cryptocurrencies and blockchain could bring to the NBA table are immeasurable. Aslo blockchain could leverage for ticketing solutions, raffles and giveaways, non-fungible tokens (NFT) sports collectibles, digitally signed memorabilia from a Fan's favorite basketball player and retiring members and jersey on immutable fashion as well.
Other important updates from the news are;the process of leveraging could encourage payments for all types of items alongside all merchandise, food and beverages, and anything else the NBA sells could be sold for crypto assets.
What are your thoughts on the formation of an NBA blockchain advisory committee?
