French NBA rookie sensation Victor Wembanyama has not just been dominating on the basketball court. The athlete has also made a splash in the world of NFTs, as an Ethereum-based NFT trading card of the San Antonio Spurs star has sold for an astounding $110,000, surpassing the sale record of his physical trading cards.
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A record-breaking NFT Sale
The single-edition NFT trading card, offered by the officially licensed fantasy basketball game by Sorare, was snapped up for 61.182 ETH, which translated to about $110,120 at the time of the auction’s conclusion.
The sale eclipses the previous record for a physical Victor Wembanyama trading card, which was sold for $67,333 in August on the auction platform Goldin.
Wembanyama: A rising star on the digital court
Wembanyama, who was this year’s first pick in the NBA draft, has seen his value skyrocket following an outstanding start with the Spurs, solidifying his status as one of the league’s most exciting newcomers since LeBron James.
The Sorare NFT high sale price reflects the buzz surrounding Wembanyama, emphasized by his recent stellar on-court performance, which included a 38-point, 10-rebound, and 2-assist game leading to a win against Kevin Durant and Devin Booker’s Phoenix Suns.
Sorare: A flourishing ecosystem for Web3 Sports
A Sorare spokesperson highlighted the unique value proposition of digital collectibles, citing “proven ownership and real utility” as key advantages over traditional sports memorabilia. Sorare’s platform enables users to actively engage with their NFTs, using them to build lineups in fantasy sports games and potentially earn rewards, thus adding an interactive dimension to the collectible experience.
Since its launch in 2019, Sorare has seen significant growth, with its original fantasy soccer game leading the charge. The addition of league-specific games, including partnerships with the NBA and MLB, has expanded its reach. Collectively, Sorare has facilitated over $713 million in NFT sales across its platforms.
The record-breaking sale of Wembanyama’s NFT is not an isolated phenomenon within Sorare NBA. Previously, an NFT of Milwaukee Bucks superstar Giannis Antetokounmpo sold for 113.9 ETH, amounting to roughly $187,000 at that time, showcasing the significant market interest in sports NFTs.
As Victor Wembanyama continues to excel in the NBA, his digital and physical memorabilia alike are soaring to new heights, setting a precedent for the future of sports collectibles and fan engagement in the digital age. With Sorare at the helm of this revolution and Wembanyama leading the new wave of sports stars, the realm of NFTs and sports memorabilia is poised for an exciting trajectory.