A non-fungible token, also known as an NFT, is a one-of-one unique digital asset that is kept on the blockchain. Over the past year, non-fungible tokens (NFTs) have skyrocketed in popularity, ushering in a new paradigm of digital ownership. NFT initiatives have emerged to provide customers with clear ownership of digital goods like artwork and in-game items, with users able to purchase, sell, or transfer NFTs via online markets. The NFT market OpenSea, as well as the well-known digital art collections CryptoPunks and Bored Ape Yacht Club (BAYC), are at the vanguard of this phenomena. NFT game platforms like Axie Infinity have also gotten better and better.
What is the type of Dynamic NFT ?
A digital collectible known as a dynamic NFT can change over time and gain new benefits based on actual occurrences. Dynamic NFTs (dNFTs), or NFTs that automatically produce innovative outcomes using off-chain input and computation, have recently gained attention from the general public. Because they may change in reaction to actual occurrences, dNFTs open up a vast array of possible application cases. The contribution of dNFTs to strengthening the bond between celebrities and their fan bases, driving novel forms of engagement and gamified fan rewards, is one area that has already experienced tremendous growth. LaMelo Ball’s dynamic NFTs are associated with his NBA stats and accomplishments.
About LaMelo Ball’s NFT
LaMelo Ball was 2021 rookie of the year a professional NBA player has developed a dynamic NFTs that are linked to his stats and achievements. Numbers such as points update in real time via Chainlink. Purchasers have the potential to receive benefits that are verifiably selected at random with each NFT auctioned off. Ball connected real-world benefits to his digital content as the first athlete with a dynamic NFT linked to his stats. Anyone who purchased one of LaMelo NFT is eligible to win. He is also giving away 500 NBA tickets, his high school championship ring, autographed memorabilia, and more.
LaMelo NFT Released
LaMelo Ball has established a huge fan base of nine million Instagram followers. And given that he won NBA Rookie of the Year in 2021, he has effectively raised awareness of his NFT endeavor. Information believes that compared to other professional sportsmen who have published NFTs, LaMelo NFT project is significantly more advanced and a little bit ahead of the game.
In 2021, LaMelo held an open edition NFT sale from June 4 to June 25. LaMelo NFT are divided into four tiers: Red Mars, Blue Neptune, Silver Moon, and Gold Sun. The NFTs are 10-second videos that show LaMelo dressed like a basketball player against a galactic backdrop. The four NFTs each have a different color scheme and the basketball is depicted as a planet. Through the use of Ether Cards and Chainlink, the NFTs can change how they look. Each of them is connected to a distinct NBA statistic or accomplishment. For Example :-
Silver Moon the NFT changes in real-time and increases in value each time Ball records an assist in an NBA game. Ball will be able to enjoy successes with his supporters thanks to this. When he records his 1,000th assist, for instance, he might run a contest or unlock certain benefits.
Gold Sun is connected to laMelo Ball’s winning the NBA Rookie of the Year title it is the most costly tier. It essentially allowed supporters to wager that Ball would take home the prize. The NFT evolved and unlocked further benefits once Ball was formally named the Rookie of the Year. Ball’s NFTs are meant to update, unlock benefits, and grow increasingly more coveted as he does well on the court, accruing more numbers and accomplishments.
Chainlink, a decentralized oracle network that verifies actual world data, also powers LaMelo NFT project. This guarantees that the statistics that follow the NFT are accurate and reliable.
LaMelo NFT Sales
NFTs are highly speculative investments. However, it’s likely that LaMelo NFT project will increase in value over time. Statistics connected to the NFT will continue to rise, likely causing prices to increase. The only place to get LaMelo NFT right now is on the secondary market. His NFTs are currently listed on NFT marketplaces like OpenSea. The purchase must be made using a digital wallet like MetaMask. To buy the NFT and pay the transaction fee, there must be enough ETH in the wallet. Users on MetaMask have the option of buying ETH directly with a debit card or exchanging a variety of cryptocurrencies for it. It is important to keep in mind that a “gas fee” must be paid in order for this transaction to be successful since a miner needs to validate the transaction and be rewarded for their efforts.
Gold Sun was sold at auction for 30 ETH, which at the time of the sale was equivalent to about $80,640. The winner also receives a set of shoes that were worn by Ball when he achieved his first triple-double in NBA history becoming the youngest player in NBA history to do this. Ball sold all 6,500 Red Mars about $26 each, over 1,100 Blue Neptunes about $260 each, over 100 Gold Suns about $6,000 each, hundreds of Silver Moons about $2,600 apiece, and over 100 Silver Moons.
Future of LaMelo NFT
It may be predicted that the value of these NFTs will rise. Basketball enthusiasts may need some time to download and set up digital wallets like MetaMask because NFTs can be a little difficult to understand. Numerous benefits and features of the project include the opportunity to gain VIP access to LaMelo group chats. It’s certainly feasible that the cost will go up once more people learn that they can speak with him and get signed merchandise.