A number of National Basketball Association (NBA) team owners have formed an NBA advisory committee on blockchain in the professional American basketball league. The advisory board includes prominent billionaires and advocates for the retail chains that own the Nets, Mavs, Wizards, Celtics, Kings and Jazz teams.

Billionaire NBA Team Owners Call National Basketball Association Advisory Committee Blockchain

The NBA, the American professional basketball league, may be introducing block chain and encryption solutions to the industry in the near future. Sportico.com contributors Scott Soshnick and Eben Novy-Williams spoke with one of the members of the new NBA Blockbusters Committee, Dallas Mavericks owner Mark Cuban.

Soshnik and Novy-Williams also mentioned the popular Flow blockchain application, supported by Dapper Labs, which produces non-disturbable NBA Top Shot (NFT) chips. Sportico’s authors say NBA Top Shot sales have been very productive so far, totaling $300 million in resale markets.

This has very little to do with Top Shot, a Cuban told the publication by email. These are chain applications, of which Flow is just one. The team members were controlled by several people who knew the plans, Sportico journalists reported.

The NBA committee consists of Mark Cuban, Joe Tsai, Ted Leonsis, Steve Pagliuca, Vivek Ranadive and Ryan Sweeney. The NBA has refused to take a position on the issue, Soshnick and Novy-Williams said.

Many members of the NBA’s Blockchain Advisory Committee have long been proponents ofcryptography.

Recently, a Cuban gave the Dallas Mavericks basketball team permission to accept DOGEs through Bitpay. The owner of the Sacramento Kings, Vivek Ranadive, has long been a journalist specializing in cryptocurrency and an advocate of chain locks. The Sacramento Kings Basketball Club has been accepting Bitcoins (BTC) since 2014.

Steve Pagliuca, co-owner of the Boston Celtics, is co-chairman of Bain Capital, a venture capital firm that has invested millions in retail chain projects over the years.

The solutions and innovations that cryptocurrencies and block strings can bring to the NBA table are unfathomable. Blockchain can be used to sell tickets, raffles and gifts, sports collections with non-displayable (NFT) tokens, souvenirs digitally signed by a fan’s favorite basketball player, as well as immutable numbers and t-shirts for retirees.

Not to mention that cryptocurrencies can be used to pay for all of these types of goods, as well as any goods, food, drinks, and anything else the NBA sells can be sold for cryptographic assets.

What do you think about the creation of an NBA Production Line Advisory Committee? Let us know what you think in the comments below.

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