Coinbase Partnering with NBA and WNBA

[Blawpaw]

Cointelegraph announced Coinbase was Partnering with NBA and WNBA in a major crypto deal. Although the partnership will be more significant particularly to the NFT industry, it is also huge news for crypto in general.
This move is bound to take crypto a few steps closer to mainstream adoption. Glad to hear your comments about the news.

[yazher]

If it is for the NFT purpose then this will be huge for those Basketball fans out there. I already see how this thing coming and hope they sell those NFT as they sell NBA Cards. I just don't have any idea of how much one NFT card will cost or if it's available for US citizens only for its first release.

[Jawhead999]

According to the NBA, Coinbase will create “unique content, innovations, activations and experiences” for basketball fans to learn about the crypto space, as well as be a partner of the WNBA Commissioner’s Cup, the USA Basketball men’s and women’s national team exhibition tours and the NBA G League Ignite.

It seems Coinbase want to overtake Opensea, Rarible etc and become the top 1 NFT marketplaces, as they mentioned before about to launch their own NFT marketplaces. Of course to get more traffic they will follow the hype/trend and now the hype is NFT.

or if it's available for US citizens only for its first release.

Possibly it can be available for US citizens only because to join the waitlist you must from US residence [1]

[1] https://help.coinbase.com/en/nft/launch

[Fundamentals Of]

This must be about the new generation of NBA and WNBA collectibles. Cryptocurrency has caused even huge sports leagues to evolve and adjust according to the changes of the times. Before, I was contented to collect cheap NBA cards, those that are not really considered collectibles by serious collectors. Now it is not even enough that you stick to the old way of collecting NBA cards. It means you are left behind. Collections are already transforming into digital forms and are tokenized. This is another big news for crypto.

[onecall123]

Any involvement in the project is welcome since it will take us a step closer to mainstream adoption. This year, cryptocurrency will definitely dominate mainstream sports. The NBA and WNBA officially endorse cryptocurrency through their official platform Coinbase. UFC, MLB and NBA are now primary sponsors. This trend cannot be stopped.

[kanayaTabitha]

Cointelegraph announced Coinbase was Partnering with NBA and WNBA in a major crypto deal. Although the partnership will be more significant particularly to the NFT industry, it is also huge news for crypto in general.
This move is bound to take crypto a few steps closer to mainstream adoption. Glad to hear your comments about the news.

This is a great movement for crypto adoption since basketball is the most favourite sports in US and it will hook a lot of new investors in crypto.
Maybe they will created NFT cards with basketball player on it ? it's seems a good idea if there are an official collectible NFT for NBA, i'm sure it will create a hype since many of NBA fans are circle of rich people and hollywood actors

[Poker Player]

Any involvement in the project is welcome since it will take us a step closer to mainstream adoption. This year, cryptocurrency will definitely dominate mainstream sports. The NBA and WNBA officially endorse cryptocurrency through their official platform Coinbase. UFC, MLB and NBA are now primary sponsors. This trend cannot be stopped.

That's what I was thinking. We are leaving behind the time when the world of cryptocurrencies was something rare associated with frauds and scams. If the NBA and the WNBA partner with Coinbase, cryptocurrencies are going to become as commonplace as Coke.

[Anonylz]

This is the reason why many thinks nft hype is just getting started, it is certainly the trend where big games in the gaming industry will flourish, imagine NBA, UFC, EPL and WWE NFTs rolling out with millions of fans ready to invest on them, it will definitely be huge for the crypto space and mostly the nft trend, and coinbase already see the huge potential in this trend to they are leaving any stone unturned.

[davis196]

Cointelegraph announced Coinbase was Partnering with NBA and WNBA in a major crypto deal. Although the partnership will be more significant particularly to the NFT industry, it is also huge news for crypto in general.
This move is bound to take crypto a few steps closer to mainstream adoption. Glad to hear your comments about the news.

Bitcoin is already in the mainstream,despite the fact that it's not adopted by millions of people in their daily activities.
This deal is mostly about NFTs,which I honestly don't care about.I'm not a basketball fan,so I couldn't care less.I wonder why Coinbase would want to expand into the NFT market.Probably because of greed.
We have already seen several cryptocurrency related companies to sign sponsorship deals with popular sports clubs.Coinbase isn't doing something revolutionary or groundbreaking.The crypto businesses are getting bigger,so they have bigger advertising budgets.

[noorman0]

I didn't find much of the nft market opportunity in sports even though it includes entertainment media.

If you highlight the last paragraph of the article,

Many crypto companies and platforms have formed partnerships with sports organizations across the globe as the space expands and seemingly becomes more profitable as a sponsor. Crypto derivatives exchange FTX announced it had become the official sponsor of Major League Baseball in June and previously struck a deal to name the Miami Heat’s home stadium the FTX Arena until 2040.

you will be made clear that this partnership has a sponsorship purpose behind its primary goal of mediating crypto education space for NBA fans.

This isn't big news either. There are other companies like Chiliz that focus more on the sports industry and build partnerships with sports clubs around the world.

[Blawpaw]

I didn't find much of the nft market opportunity in sports even though it includes entertainment media.

If you highlight the last paragraph of the article,

Many crypto companies and platforms have formed partnerships with sports organizations across the globe as the space expands and seemingly becomes more profitable as a sponsor. Crypto derivatives exchange FTX announced it had become the official sponsor of Major League Baseball in June and previously struck a deal to name the Miami Heat’s home stadium the FTX Arena until 2040.

you will be made clear that this partnership has a sponsorship purpose behind its primary goal of mediating crypto education space for NBA fans.

This isn't big news either. There are other companies like Chiliz that focus more on the sports industry and build partnerships with sports clubs around the world.

I can't say that I agree with you. Yes, there are a few projects including Chiliz focusing on the Sports Industry but nothing compared to this. This move will bring a lot of awareness to the crypto ecosystem. I really believe this will bring a new wave of users coming fresh to the crypto industry and base to propel Bitcoin to 100k

[Ngewex Yuk]

I'm a coinbase user since 2016, and this is great news that will make coinbase go international, the right move as crypto.com which is the official sponsor of UFC, for this sponsor fee I think is very easy because of the daily transaction volume which is more than $3 billion per day.

[Oasisman]

The primary purpose of Coinbase for this partnership is to get more exposure of their company and also the good side is to educate the fans all about crypto.
This will both benefit the NBA, Coinbase, and the people in crypto space who are hoping to have greater adoption in the future.
Coinbase also took advantage to become the mainstream NFT marketplace for all the NBA fans.

[Pmalek]

I wonder why Coinbase would want to expand into the NFT market.Probably because of greed.

Because no matter whether we like it or not, NFTs are trending and being hyped right now. Coinbase wants a piece of the pie like all the other platforms and NFT marketplaces.

The last few days I kept seeing Facebook ads for a Shaquille O’Neal NFT collection. Has anyone else seen them? I first thought it was a scam, but after seeing this thread, I took a second look. He actually did release his own NFT collection, but it has got nothing to do with Coinbase. He partnered with Ethernity. 

[tippytoes]

I wonder why Coinbase would want to expand into the NFT market.Probably because of greed.

Because no matter whether we like it or not, NFTs are trending and being hyped right now. Coinbase wants a piece of the pie like all the other platforms and NFT marketplaces.

The last few days I kept seeing Facebook ads for a Shaquille O’Neal NFT collection. Has anyone else seen them? I first thought it was a scam, but after seeing this thread, I took a second look. He actually did release his own NFT collection, but it has got nothing to do with Coinbase. He partnered with Ethernity.  

Yes, it was in coindesk's article below -

https://www.coindesk.com/business/2021/10/04/shaq-to-release-nft-collection/

The partnership of Coinbase with NBA and WNBA is not maybe a surprise as several exchanges have their own NFT marketplace already like binance and pancakeswap. But coinbase got a very good deal by getting the NBA and WNBA, if those players will put their NFT collectibles under their NFT marketplace, they will attract more users and traders. Their NFT is still under waitlist stage though. So these basketball fans, they may soon use coinbase for this reason, if they are not yet registered to this trading platform.

[terciduk123]

I haven't read the announcement "Coinbase Partnership with NBA and WNBA"", maybe you can share the link here.
This partnership is very good, especially if Coinbase can become the main Sponsor, this will be a good marketing strategy and can increase Coinbase users.

[cheezcarls]

With this partnership, I had no doubts that other major leagues would follow suit. NBA Top Shot was the NFT marketplace for NBA moments as well as the WNBA. So this will likely more of a simple collectible than just video moments. Coinbase is huge and popular. However, the question is if they are doing whatever it takes not to get their platform hacked again like the last time.

[Similificator]

Very big news indeed! This was something that was already fixed to happen. The inevitable can never be stopped, even more so as NFTs and defis came in the scene. Although steam made a somewhat dumb decision of ridding itself of anything crypto related, there will always be huge names that would take advantage of the big potential behind NFTs. Hence, NBA/WNBA siezed the opportunity. Just because NFTs don't affect the game experience for players, the collectibles are trophies that gamers like me can treasure as much as how basketball fanatics enjoy memorabilias.

[hugeblack]

I don't know, but using a central service to get NFT tokens means more complexity, as the platform will manage, run, and maybe even freeze those assets since they are only available to US residents.

In general, a huge NFT lovers do not care about decentralization and they will choose to trust the platform, but I see that the central platforms are far from being banks and therefore it is wrong to trust them.

I also don't think that buyers will buy ETH to have NFT but pay directly using USD.

[pealr12]

Coinbase already have millions of users using despite being a centralized exchange, I don't think they will have any problem with this new partnership with NAB and WNBA, it gives more opportunity for users to be able to access nft and crypto under same platform, maybe this can extend to other countries someday.