NBA China and Ant Group have partnered to introduce basketball-themed NFTs, offering millions of Chinese basketball fans access to digital collectibles via Alipay’s mini-program. The partnership between the NBA and Ant Group is a strategic move by both companies to capitalize on the growing interest in NFTs in China. Ant Group is the parent company of Alipay, one of China’s most widely used mobile payment platforms. By launching a mini-app on Alipay, the NBA will be able to reach millions of Chinese basketball fans and provide them with access to a range of NBA-themed NFTs.
NBA China and Ant Group today announced a comprehensive strategic collaboration to create original online content and customized consumer experiences for fans on Alipay. The collaboration makes Alipay the strategic partner of NBA China for digital life. https://t.co/BIbM3aE1BA pic.twitter.com/b6Vr1NufpY
— Ant Group (@AntGroup) February 21, 2023
According to official sources, the league has over 170 million fans in China, making it one of the largest markets for the NBA outside of the United States. By partnering with Ant Group, the NBA hopes to tap into this vast market and provide Chinese fans with a unique way to engage with their favorite players and teams. The mini-app will be available to over 20 million Chinese basketball enthusiasts to access a wide range of NBA content and videos, including highlights, player interviews, and NBA-themed NFTs.
NBA Continues its Journey in Web3
The NBA has been long since led the way in the NFT space with the its Top Shot NFTs, which launched way back in 2020. The NBA Top Shot marketplace enables fans to purchase, sell, and trade unique moments from NBA games as NFTs, such as game-winning shots, slam dunks, and other memorable plays. The platform has achieved impressive figures, with over $982.34 million in trading volume and more than 20 million in sales volume since its inception. Recently, the platform also introduced NFTs of Lebron James breaking the scoring record in the NBA, which went viral and garnered thousands of dollars within hours of release.
The launch of NBA-themed NFTs on Alipay will also provide a new revenue stream for the league. NFTs have been selling for millions of dollars in recent months, and the NBA will capitalize on this trend by creating unique and rare NFTs exclusive to Chinese fans. Overall, launching NBA-themed NFTs on Alipay is an exciting development that will generate significant interest among Chinese basketball fans.
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NFT and Web3 Ambassador. Bullish on all things Blockchain.