A group of NBA heavyweights form blockchain use case committee
By Bob Garcia
Several NBA team owners are looking to bring the blockchain to the league
As it should come as no surprise by now, many entities are waiting for the perfect moment to implement blockchain technology. It seems that now it will also be part of one of the biggest sports in the United States, the NBA. According to a report from Sportico shared on Friday, a group of NBA team owners is planning to form a committee that would be interested in researching and implementing this technology for the world’s largest basketball league.
Called the Blockchain Advisory Subcommittee, the group includes important members like Mark Cuban, Ryan Sweeney, Ted Leonsis, Joe Tsai, Vivek Ranadive and Steve Pagliuca. The main goal of the subcommittee is to “explore ways to integrate blockchain across the league’s business.”
Collectibles and ticketing seemed to be the two most obvious possible use cases so far. Cuban, an investor and owner of the Dallas Mavericks, has particularly expressed his support for integrating blockchain to enable his team to reap profits from scalping and secondhand sales.
Cuban stated that the creation of the committee has nothing to do with the popularity increase that the NBA Top Shot project (which has raked in over a quarter billion dollars in sales) has been lately getting. He made clear that the committee is intended to explore more applications of blockchain technology. However, many players from the NBA are current company investors.
Despite a past where Cuban looked down on the use of cryptocurrencies, he is now a loyal member of the community. This is especially true for almost anything related to Ethereum and he has also stated via Tweeter that’s he’s willing to accept Dogecoin for Mavericks’ tickets and merchandise.