nba China and Ant Group have partnered to introduce basketball-themed NFTs, offering millions of Chinese basketball fans access to digital collectibles through the Alipay 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 the most widely used mobile payment platforms in China. By launching an applet on Alipay, the NBA will be able to reach millions of Chinese basketball fans and provide them with access to a variety of NBA-themed NFTs.
NBA China and Ant Group today announced a comprehensive strategic collaboration to create original online content and personalized 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
— Group of ants (@AntGroup) February 21, 2023
According to official sources, the league has more than 170 million fans in China, making it one of the biggest 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 interact with their favorite players and teams. The widget will be available to more than 20 million Chinese basketball fans to access a wide range of NBA content and videos, including highlights, player interviews, and NBA-themed NFTs.
NBA continues its path on Web3
The NBA has long been leading the way in the NFT space with its Top Shot NFTs, which launched in 2020. The NBA Top Shot marketplace allows fans to buy, sell, and trade unique moments from NBA games as NFTs, such as like game winners, dunks and other memorable plays. The platform has achieved impressive numbers, with over $982.34 million in trading volume and over 20 million in sales volume since its inception. Recently, the platform also featured Lebron James’ NFT breaking the NBA scoring record, which went viral and raked in thousands of dollars within hours of its 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 exclusively for Chinese fans. In generalThe launch of NBA-themed NFTs on Alipay is an exciting development that will generate significant interest among Chinese basketball fans.
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