Hoping to ride NFT wave, Taiwanese basketball team launches NFTs

[Micky]

A professional basketball team in Taiwan has issued what could be Asia’s first non-fungible token (NFT)-based basketball trading cards, with the value of a limited edition for a player’s card more than doubling in just a few days. However, some experts are raising concerns over these NFT cards’ investment value considering the size of the team’s fan base and the cards’ liquidity.

The Hsinchu JKO Lioneers, a professional basketball team based in Northern Taiwan, has partnered with ACE Exchange, a Taiwan-based fiat to cryptocurrency exchange, to issue two versions of trading cards — essentially short video clips — featuring its five star players, on NFT marketplace OpenSea. The Lioneers rolled out 30 limited-edition cards for each player, with a starting price of 0.09 ETH, or about US$166 per card at today’s Ether prices, and 200 regular cards for each player at 0.008 ETH, or about US$15.42 per card.

The limited-edition cards of star player Oscar Kao, who plays point guard on the team, were sold out within half an hour after the sales commenced this past Saturday, Jason Hsu, team lead of the Lioneers and a former legislator in Taiwan told Forkast.News.  However, the limited-edition cards for the other four players were not as popular and were sold for about 15 to 22 cards as far as Wednesday.

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