Why NBL is buying into NFTs

NBL Commissioner Jeremy Loeliger has explained why the league is entering the NFT market.

NFT’s (Non-fungible tokens) are a new form of digital collectables which has taken the sporting world by storm.

The NBL is currently in tender about NFT rights and Loeliger believes the digital assets will only grow in value once further benefits are added to them – benefits that don’t exist with a physical trading card or collectable.

“The collectability of something is only the first feature of an NFT. I guarantee you within a year from now, there will be much more interesting NFT's than collectibles,” Loeliger told SEN.

“And those are the NFT's that also add some kind of utility that allows you to do something with that digital basketball card, you can redeem it for something, or it will give you access to something that nobody else can get.”

Listen to Loeliger’s full interview below as he discusses what NFT’s are, why they’re so valuable and more.

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