Golden State Warriors Drop 2022 Playoff NFTs

Fans of the Golden State Warriors and anyone interested will have the opportunity to mint some non-functioning sports tokens with IRL utility: a 2022 GSW NFT playoffset with real prizes attached. The drop will take place on April 15 on the US FTX marketplace.

The 3,000 NFTs are randomly divided into 12 designs. Some of the real rewards associated with the NFTs include a spot aboard the Warriors Championship car, a 2015 Warriors Championship ring, various autographed sports memorabilia, and playoff tickets.

Brandon Schneider, the Warriors president, said the NFTs allow the team to communicate with fans digitally. In his words, because “99 percent of the fans” will never go to a game at the Chase Arena (where the Warriors play), the team needed another way to communicate with them. Finding digital ways to engage fans “has been critical.”

Anyone who buys one of the 3,000 NFTs has a chance to win one of the physical prizes, with only one exception: the Gold Bar Access Pass, which can only be won at auction. The winner of that auction will receive a real gold bar and tickets to each of the Warriors’ home games during the playoffs.

A portion of the profits from the NFT coin will go to the Warriors Community Foundation, which is committed to supporting youth and education in the Bay Area.

Sports Prime material for non-functioning tokens

Sports has always been about passion and entertainment, and judging by the past few years in non-perishable tokens, that has carried over to sports NFTs.

Two companies have worked hard to bring sports NFTs to the public since 2020: Dapper Labs in North America and Sorare around the world. Both have multi-billion dollar valuations, have spawned massive rounds of funding – including Sorare’s $600M+ round in 2021 – and both are among the top NFT firms.

Observers believe that part of what makes sports good material for NFTs is an IRL natural extension: trading cards. Dapper Labs and Sorare’s products differ mainly in style (Dapper’s are short videos, while Sorare’s are static), but they’re both seen as extensions of the items sports fans have been collecting for decades.

This natural evolution has made both companies profitable as millions of sports fans have flocked to their platforms to play or simply collect the NFT trading card games. And as Dapper Labs and Sorare have been successful, more athletes and teams have launched their own NFT collections.

Time will tell if individual team NFTs like the Golden State Warriors collection continue to succeed. But as more athletes and teams implement their NFTs like GSW (with IRL utility), this could be an exciting time for digitally savvy sports fans.

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