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NBA Blockchain Billionaires Looking To Integrate Crypto Into The Sport

According to sources connected to the NBA, the organization has created a blockchain advisory committee that includes a number of its billionaire owners. The most notable names on the list so far include Mark Cuban and Joe Tsai.

The NBA has dreamt up the term Blockchain Advisory Subcommittee to label the assemblance of prominent figures within the game, further members of this group are reportedly set to be Ted Leonsis, Steve Pagliuca, Vivek Ranadive, and Ryan Sweeney. This committee was created with the aim of these members attempting to explore and consider the best ways to integrate blockchain across the league’s business. The NBA as of now has not spoken about the matter.

This news follows the exploding popularity of NBA Top Shot, digital collectibles that are being sold by league licensing partner Dapper Labs on its Flow blockchain. On the recent Top Shot release, more than 200,000 people entered. This has helped contribute to the resale marketplace seeing more than $300 million in sales.

“It has very little to do with Top Shot,” Cuban said in an email. “It’s about blockchain applications, of which Flow is just one option.”

It’s already the case that some NBA teams are already accepting cryptocurrencies in their arenas. Blockchain businesses in the gaming industry are gaining mainstream acceptance.

Members Of Group Have History Of Supporting Blockchain

The owner of the Dallas Mavericks, Cuban as well as the owner of the Sacramento Kings, have been in support of cryptocurrencies for some time now. In 2014, the Kings became the first major U.S pro team to accept Bitcoin. They would also four years later be the first to establish a cryptocurrency mining program.

The Mavericks have been accepting Bitcoin now for two years and have even recently said that they will start accepting Dogecoin.
The owner of the Brooklyn Nets is the co-founder and executive vice-chairman of Alibaba, A huge tech company based in China. While the owner of the Washingon Wizards invested early in the Dapper Labs through aXiomatic. Pagliuca, co-owner of the Boston Celtics, is co-chairman of investing giant Bain Capital, and Sweeney who is a minority shareholder with Utah Jazz is a venture capitalist focused on tech and computing.

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