The Confederation joins the technological and cultural imprint, seeking to value its assets and develop its own asset through fungible and non-fungible tokens. Details below.
In a context of constant evolution in technological and communicational matters, the CAB is riding the wave and betting on the future. For this, the Digital Assets Program was created, which aims to create fungible and non-fungible tokens that will enhance the historical value of the Argentine basketball team and that, at the same time, will benefit its followers and fans by allowing them to participate, for example, from different events.
In the case of non-fungible tokens (NFT), a special type of cryptographic asset that represents something unique and indivisible, the program proposes to create collections referring to the great history of Argentine basketball, such as the Generation of ’50, the first champions of the world, the Golden Generation or the Soul, the current campus. But there will be much more: collections of our greatest talents, iconic trainers and figures of the female. For this, contracts will be signed with different personalities of our basketball for the purpose of creating their own NFTs.
Regarding the fungible tokens, those that are not unique and can be exchanged, the idea is that they are used in favor of the fans, so that they can participate and stay close to the players who represent their country. For example, there will be the opportunity to access privileged seats for a game, or access a meet and greet with a figure from our basketball.
Crypto technology came to change the world, and from CAB, the bet on them is to value their assets and bring fans closer to a novel and unique product. In Argentina, the market for fungible tokens and NFTs is still developing, but globally, its explosion is a fact. In the sports world, the NBA was the first league to take the step, opening its test application in October 2020, after more than two years of development with the Dapper Labs company. In six months, NBA raised a total of 230 million dollars in direct sales of its NFTs.
In the attached document below, you can review the objectives and the action plan that the CAB put together for the Digital Assets Program.
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