May 7, 2022, 10:00AM EDT · 1 min read
Fashion label Under Armour’s Curry Brand is launching non-fungible tokens (NFTs) to celebrate every time NBA basketball player Stephen Curry makes a three-point shot during the ongoing playoff games.
Curry, who plays for the Golden State Warriors, is known for his high-arching three pointers, scored from anywhere outside the 22-foot arc around the basketball net.
The NFTs, which will be given to fans on a first-come, first-serve basis, will come with something called “serums,” which are kept in digital wallets and allow owners to change the looks of their avatars.
Starting in June, the brand plans on dropping an additional 20,000 basketball NFTs.
Luxury and fashion brands have been increasingly experimenting with NFTs and blockchain-backed games in an effort to tap into what’s estimated to be an $800 billion metaverse market by 2024. Luxury fashions more specifically are estimated to be a $50 billion revenue opportunity by 2030, according to Morgan Stanley.
For Under Armour and Stephen Curry, this is not the first move into the NFT space. In December, Curry Brand launched wearable sneakers that can be used on multiple gaming platforms including Decentraland, The Sandbox, Gala Games and Rumble Kong League.
In September 2021, Curry secured a partnership with crypto exchange FTX to demystify the crypto space, just a day after he turned to Twitter to solicit crypto advice.