Leading sports NFT company Sorare announced in September that it was named an official partner of the National Basketball Association. On Tuesday, Sorare announced plans and details for the upcoming 77th NBA season.
Fantasy Competitions: Sorare NBA features two competition styles: Contender and Champion. Both competitions will see competitors set a five-player lineup of Sorare cards. Each card comes with a points value based on the ten-game average of the player.
Competitors will have to stay under a certain points cap in the competition.
One player of the five can be designated as an MVP in the Champion competitions. The points value of the MVP does not count against the cap in Champion competitions.
Competitions will run in two windows each week. Each competition window called Game Week will see contests run Monday through Thursday and Friday through Sunday.
Different competitions have different requirements with casual competitions including only common level cards, limited competitions requiring limited level cards, rare competitions requiring 3 rare cards and 2 limited cards, super rare competitions requiring 3 super rare cards and 2 rare cards, and unique competitions requiring 2 unique cards and 3 super rare cards.
Rewards for competitions will include jerseys, tickets and real-life events. Players can also earn new player cards from competitions.
Points are scored for competitions as follows:
Point: 1 point
Rebound: 1.2 points
Assist: 1.5 points
Block: 2 points
Steal: 3 points
Turnover: -2 points
Made 3PT FG: 1 point
Double Double: 1 point
Triple Double: 1 point
The first competition window will be Friday, Oct. 21 through Sunday, Oct. 23.
Related Link: Sorare Review
About Sorare NBA Cards: The Sorare cards are broken down into different categories, with common being the lowest level. The other classes have caps on the number of cards available, with 5,000 limited of each specific card, 1,000 rares, 100 super rares and one unique.
Each Sorare NBA card has two different styles, a traditional headshot and an action shot. Both cards will score the same in terms of points for competitions and only be treated as different in the overall looks of the card.
The traditional headshots will be the cards to launch first, with action shots launching later in the NBA season.
Each Sorare NBA card for the 2022-2023 season will include a “Year One Edition” strip at the bottom, signaling the first year of the company’s partnership with the NBA and NBPA.
The Sorare NBA NFTs are part of the Ethereum ETH/USD blockchain.
How to Get Cards: The Sorare NBA season kicks off Tuesday with players able to start getting cards and setting their lineups for competitions. Sign up on the Sorare website to get access to unlock cards.
Players will be able to select one free card from a selection of five-star players. An additional 19 more common cards will be randomly unlocked for free.
Competitors can buy cards via auction with a floor price set and an expiration date and time determining the winner at a specific time.
As mentioned above, cards can also be won by entering and placing in various competitions.
Fans can buy, sell and trade their Sorare NBA cards on the official marketplace.
About Sorare: Founded in 2018, Sorare is an official partner on sports-based NFTs with several soccer leagues, Major League Baseball, and the National Basketball Association.
Sorare was valued at $4.3 billion in September 2021, when it raised a $680 million Series B round. Benchmark, Accel and Softbank are investors in the company.
Sorare also counts numerous athletes as investors in the company, including tennis star Serena Williams and NBA players Blake Griffin and Rudy Gobert. Soccer star Kylian Mbappe is a brand ambassador and investor in the company.
In September, Sorare said it had over two million registered users from 185 countries. The company reported over 350,000 monthly active users earlier this year.
Sorare has made frequent appearances in the weekly top ten NFTs by weekly sales volume list throughout the soccer and MLB seasons.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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