NBA Star Victor Wembanyama NFT Just Broke His Trading Card Record—Here's How
The sale of an Ethereum NFT trading card featuring NBA rookie star Victor Wembanyama for over $110,000 is notable and even surpassed the previous record sale price of one of his physical trading cards. Here are the key details:
The NFT trading card of Victor Wembanyama was released by Sorare NBA, an officially licensed fantasy basketball game.
It is a "Unique" digital trading card, meaning there is only one of its kind in existence.
The NFT was sold for 61.182 ETH, which was approximately equivalent to $110,120 at the time of the auction's conclusion.
This sale exceeded the previous record for a physical Victor Wembanyama trading card, which was sold for $67,333 in August via the Goldin auction platform. The physical card was described as a "pre-rookie" card, indicating it was sold before his official NBA debut.
Sorare's NFT platform allows users to collect and trade digital cards of professional basketball players, which can be used in the Sorare NBA fantasy basketball game.
The NFT's high sale price is attributed to Victor Wembanyama's talent and popularity as a rising star in the NBA, as well as the advantages of owning a digital Sorare card, including proven ownership and real utility within the game.
Sorare initially launched with a fantasy soccer game in 2019 and later expanded to include league-specific games for the NBA and MLB. These games feature NFT trading cards that can be used by players to build their fantasy teams, potentially earning them rewards like cryptocurrency and additional NFTs.
Sorare has seen significant success in the NFT market, with more than $713 million in NFT sales across its platforms, according to data from CryptoSlam. The company also secured a $680 million Series B funding round in 2021, valuing Sorare at $4.3 billion.
The record NFT sale for Sorare NBA was previously held by an NFT based on Milwaukee Bucks star Giannis Antetokounmpo, which sold for 113.9 ETH, or approximately $187,000 at the time.
This sale highlights the growing popularity of NFTs in the sports and entertainment industries and the significant value that collectors are willing to pay for unique and officially licensed digital collectibles.
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